Pinnacle Entertainment Reports 2018 First Quarter Financial Results
PINNACLE ENTERTAINMENT (PNK)
Last pinnacle entertainment earnings: 8/2 08:00 am
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US:NYSE Investor Relations:
investors.pnkinc.com/investor-relations
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Source: GlobeNewswire
LAS VEGAS, May 09, 2018 (GLOBE NEWSWIRE) -- Pinnacle Entertainment, Inc. (NASDAQ:PNK) ("Pinnacle" or the "Company") today reported financial results for the first quarter ended March 31, 2018. The results reflect the Company’s adoption of the new revenue recognition standard ("ASC 606"), effective January 1, 2018. The Company adopted ASC 606 using the modified retrospective method, therefore, prior period amounts have not been adjusted. 2018 First Quarter Highlights: Net revenues decreased by $11.6 million or 1.8% year over year to $628.4 million.Net income increased by $4.6 million to $21.8 million from $17.2 million in the prior year period, while the related margin increased to 3.5% from 2.7% in the prior year period. GAAP diluted net income per share was $0.35 versus $0.28 in the prior year period.Consolidated Adjusted EBITDAR increased by $2.8 million or 1.6% year over year to $177.7 million from $174.9 million in the p
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