Pinnacle Entertainment Turns To Profit In Q1 - Quick Facts

(RTTNews) - Casino operator Pinnacle Entertainment Inc. (PNK) posted first-quarter 2014 net income attributable to the company of $19.05 million, or $0.31 per share, as against a loss of $85.39 million, or $1.46 per share, in the prior-year period. Quarterly adjusted income per share amounted to $0.44. On average, 16 analysts polled by Thomson Reuters expected earnings per share of $0.41 for the quarter. Analysts' estimates typically exclude one-time items.

Net revenues for the quarter grew 100% year-over-year to $532.8 million from $266.62 million, while 17 analysts estimated revenues of $548.13 million. Consolidated Adjusted EBITDA increased by $88.4 million or 136.4% year-on-year to $153.2 million.