LAS VEGAS (AP) – Pinnacle Entertainment Inc. (PNK) on Thursday reported a fourth-quarter loss of $13.9 million, after reporting a profit in the same period a year earlier.
The Las Vegas-based company said it had a loss of 23 cents per share. Earnings, adjusted for one-time gains and costs, were 40 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The casino operator posted revenue of $558.4 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $562.2 million.
For the year, the company reported profit of $48.9 million, or 77 cents per share. Revenue was reported as $2.29 billion.
Pinnacle Entertainment shares have dropped 12 percent since the beginning of the year. The stock has increased 17 percent in the last 12 months.
