Earnings Call Insights: Boyd Gaming (BYD) Q1 2026 Management view CEO Keith Smith said Q1 results reflected “the benefits of our diversified business, our continued focus on operating efficiencies and our ongoing capital investment program,” highlighting company-wide revenues “nearly $1 billion” and EBITDAR of “$317 million,” with property margins “again exceeding 39%.” CEO Smith described regiona...
Earnings Call Insights: Boyd Gaming (BYD) Q1 2026 Management view CEO Keith Smith said Q1 results reflected “the benefits of our diversified business, our continued focus on operating efficiencies and our ongoing capital investment program,” highlighting company-wide revenues “nearly $1 billion” and EBITDAR of “$317 million,” with property margins “again exceeding 39%.” CEO Smith described regional strength and Las Vegas headwinds, saying Midwest & South delivered “broad-based revenue and EBITDAR growth” (revenues up 4%, EBITDAR up 5%, margins “nearly 37%”), while Las Vegas Locals faced “continued softness in destination business” (largest impact at the Orleans) and “more significant construction disruption at the Suncoast,” with disruption expected to last “until we complete our renovation project late in the third quarter.” CEO Smith pointed to new openings and pipeline projects, including “Cadence Crossing Casino on March 25,” a Suncoast modernization “on track for completion towards the end of the third quarter,” and a planned Orleans modernization project beginning in 2027. He also said the $750 million Virginia resort “remains on track for a late 2027 opening,” and that Boyd received “final approval from the Illinois Gaming Board” for Par-A-Dice, with the project expected to be completed “late 2028.” CEO Smith emphasized shareholder returns, stating: “We returned nearly $170 million to our shareholders during the first quarter, $155 million in share repurchases and $14 million in dividends,” and added, “we intend to continue repurchases at a $150 million per quarter pace supplemented by our quarterly dividend.” CFO Josh Hirsberg said: “During the quarter, we invested $155 million and expect to spend $650 million to $700 million in capital expenditures for the full year,” including “$300 million related to our Virginia project.” Outlook Management reiterated online and managed segment full-year expectations, with CEO Smith saying, “we reiterate our previous gui...
Outgoing Dow CEO Jim Fitterling said clearing the disruption in the Strait of Hormuz could take far longer than investors expect. "Some scenario planning that we did said that even if the straits were to reopen today, just to clear the logistics logjam… is going to take 275 days, maybe more now," he told Jim Cramer on CNBC's "Mad Money" on Thursday. The Strait of Hormuz effectively shut down in ea...
Outgoing Dow CEO Jim Fitterling said clearing the disruption in the Strait of Hormuz could take far longer than investors expect. "Some scenario planning that we did said that even if the straits were to reopen today, just to clear the logistics logjam… is going to take 275 days, maybe more now," he told Jim Cramer on CNBC's "Mad Money" on Thursday. The Strait of Hormuz effectively shut down in early March at the onset of the Iran war, triggering a major bottleneck in global energy and petrochemical flows. Fitterling said the path back to normal will be slow and operationally complex. "You've got to get empty ships back. We've got to clean out the strait and the Arabian Gulf. We've got to get empty ships back in," said Fitterling, who is retiring on July 1 as Dow's chief executive after an eight-year run. "This is not going to be in a month or two. This is going to be several quarters before you're going to see things return to normal." The initial shock was significant for the petrochemical market, in which Dow is one of the leading players. "When the Strait of Hormuz shut down, 20% of global oil capacity was shut in, but about 50% of global ethylene and polyethylene production was impacted," Fitterling said, referencing two key inputs used to create plastic products used in everyday life. He added that the chokepoint is critical to petrochemical supply chains, noting that about 40% of the naphtha used in Asian and European production flows through the strait, tightening supply almost immediately. Derived from crude oil, naphtha is a key ingredient to produce plastics and other chemicals. That imbalance has driven a sharp pricing surge. "We saw a 10 cent-per-pound increase in March, and we've got another 30 cents in April, and another 20 cents out there in May," he said. "We haven't seen this kind of an uplift in prices for well more than a decade." The pricing tailwind helped support Dow's latest results, with the company reporting solid revenue and a smaller-than...
Nicolas Maduro is seen in handcuffs after landing at a Manhattan helipad on January 5, 2026 in New York City. We knew someone made over $400,000 on suspicious Polymarket bets around the US operation to capture Venezuelan president Nicolas Maduro, but now we have a name: Gannon Ken Van Dyke. The US Attorney for the Southern District of New York announced Thursday that Van Dyke is in custody, on sev...
Nicolas Maduro is seen in handcuffs after landing at a Manhattan helipad on January 5, 2026 in New York City. We knew someone made over $400,000 on suspicious Polymarket bets around the US operation to capture Venezuelan president Nicolas Maduro, but now we have a name: Gannon Ken Van Dyke. The US Attorney for the Southern District of New York announced Thursday that Van Dyke is in custody, on several charges, including using confidential government information for personal gain. As described in the indictment , prosecutors allege Van Dyke was directly involved in the planning and execution of "Operation Absolute Resolve" to capture Maduro, and in the days before the capture, made several transactions purchasing "$33,934 worth of 'YES' shares on Mad … Read the full story at The Verge.
There’s a new wave of job cuts at the Commonwealth Bank, just as some of the world’s largest tech companies move to slash positions as part of a broader shift toward artificial intelligence. While Australia’s biggest lender is eliminating about 120 roles, Meta is looking to cut 10% of its entire workforce, according to an internal memo. Meanwhile at Microsoft, about 7% of the US workforce will be ...
There’s a new wave of job cuts at the Commonwealth Bank, just as some of the world’s largest tech companies move to slash positions as part of a broader shift toward artificial intelligence. While Australia’s biggest lender is eliminating about 120 roles, Meta is looking to cut 10% of its entire workforce, according to an internal memo. Meanwhile at Microsoft, about 7% of the US workforce will be offered voluntary buyouts. None of the moves are likely to soothe growing fears among white collar workers worldwide that their jobs are less safe than they’ve been in a long time. As you get your morning coffee, don’t forget to check out our exclusive reporting on IFM Investors from my colleague Amy Bainbridge , or the latest on Anglo American from Paul-Alain Hunt . - Ben Westcott, Asia Agriculture Reporter What’s happening now The Commonwealth Bank of Australia will eliminate around 120 roles amid a broader push to harness artificial intelligence at the nation’s largest lender, the Finance Sector Union said in a statement Thursday. The reductions come two months after a separate round of cuts that will claim around 300 roles, as part of efforts to further embrace AI. Infrastructure investor IFM Investors, mainly owned by the country’s biggest pension funds, is eyeing defense investments in Europe as it seeks to tap the region’s historic shift to military expansion, according to chair Cath Bowtell. Meanwhile nearly 90% of Australian funds plan to increase hedging ratios across asset classes over the next three months, with a particular focus on hedge funds, private credit and private equity, according to a new survey. Anglo American has at least three potential buyers for its Australian steelmaking coal business after a sale to Peabody Energy was derailed last year following a fire at one of the mines. A suitor and deal could be announced in coming months, according to people familiar with the matter. Australia’s Future Fund has named Richard Brandweiner as chief investmen...
Officials have begun a detailed review of the government’s HK$20,000 (US$2,600) baby bonus scheme six months before the end of its three-year term, and for good reason. With its low take-up rate, the scheme has failed to make the hoped-for impact on a falling birth rate. At the end of February, more than 40 per cent of the HK$2.8 billion set aside to encourage couples to have babies remained unspe...
Officials have begun a detailed review of the government’s HK$20,000 (US$2,600) baby bonus scheme six months before the end of its three-year term, and for good reason. With its low take-up rate, the scheme has failed to make the hoped-for impact on a falling birth rate. At the end of February, more than 40 per cent of the HK$2.8 billion set aside to encourage couples to have babies remained unspent, according to the Labour and Welfare Bureau. This suggests financial incentives alone cannot...