secwatch.observer — SEC 8-K summary
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Issuer:     PENN Entertainment, Inc. (PENN)
CIK:        0000921738
Form:       8-K
Filed at:   2022-08-04T23:59:59+00:00
Accession:  0000921738-22-000034
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PENN Entertainment Q2 net income $26.1M, down 87%; reiterates FY guidance; name change
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- Q2 revenues $1.63B (+5.2% YoY); net income $26.1M ($0.15 diluted EPS) vs $198.7M ($1.17) in prior year, down 87%.
- Adjusted EBITDAR $504.5M, down 14% YoY; margins declined 694bps to 31.0%.
- Repurchased $167M of common stock at avg $30.16 per share under $750M authorization; remaining $313.1M.
- Reiterates FY2022 revenue guidance $6.15B-$6.55B and Adj EBITDAR guidance $1.875B-$2.0B.
- Changed name from Penn National Gaming to PENN Entertainment, Inc. effective August 4, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/921738/000092173822000034/0000921738-22-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/921738/000092173822000034/penn-20220804.htm
  HTML page:      https://secwatch.observer/filing/0000921738-22-000034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer