TLDR PENN posted Q3 adjusted EPS of 32 cents, beating the 12 cent consensus. Revenue hit $1.84 billion, and net income was $32.6 million. Retail guidance for 2026 was raised to $5.89 billion in revenue. Interactive segment losses narrowed to $18.3 million from $76.6 million. CEO Jay Snowden said Tuesday’s elections were good for PENN and the sector.
PENN Entertainment beat Wall Street’s profit forecast for the third quarter, posting adjusted earnings of 32 cents per share. Analysts had expected 12 cents, according to TheFly.
Revenue for the three months ended Sept. 30 came in at $1.84 billion, matching the consensus estimate. That was up from $1.72 billion in the same quarter last year.
The casino and online gaming operator reported net income of $32.6 million. A year earlier, it posted a net loss of $865.1 million, which included $825.0 million in impairment charges tied to its Interactive segment.
Consolidated Adjusted EBITDA rose to $284.0 million from $194.9 million. The company reported total liquidity of $2.0 billion, including $1.0 billion in cash, and traditional net debt of $1.8 billion as of Sept. 30.
PENN Entertainment raised its full-year earnings outlook for its retail casinos and reaffirmed its Interactive earnings target. The group improved at the operating level even though online betting and iCasino still lost money in the quarter. pic.twitter.com/dI1wKHK53P
— iGaming Express (@iGamingExpress) November 5, 2026
Retail Hits a Record as Online Losses Narrow
PENN’s Retail segment, which covers its physical casinos, generated $1.5 billion in revenue. CEO Jay Snowden said it was a record third quarter for the unit, helped by completed development projects.
Retail Segment Adjusted EBITDAR reached $501.8 million, with a margin of 33.7%. CFO Felicia Hendrix said PENN raised its full-year 2026 retail guidance to $5.89 billion in revenue