secwatch.observer — SEC 8-K summary
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Issuer:     PENN Entertainment, Inc. (PENN)
CIK:        0000921738
Form:       8-K
Filed at:   2026-02-26T23:59:59+00:00
Accession:  0000921738-26-000006
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PENN Entertainment Q4 net loss narrows to $73.4M; guides 20% adjusted EBITDAR growth in 2026
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- Revenue $1.81B in Q4 2025 vs $1.67B a year ago; net loss improved to $(73.4M) from $(133.8M).
- Consolidated Adjusted EBITDA $225.8M vs $165.2M; retail segment adjusted EBITDAR $456.4M.
- Interactive segment revenue $398.7M (incl. $182.7M tax gross-up), adjusted EBITDA loss $39.9M; achieved positive adjusted EBITDA in December.
- Guidance: expect 20% YoY segment adjusted EBITDAR growth in 2026; Interactive break-even; >$10M annualized cost savings.
- Liquidity $1.1B (cash $686.6M); traditional net debt $2.2B; expect de-leveraging >1 turn lease-adjusted, >2 turns traditional.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/921738/000092173826000006/0000921738-26-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/921738/000092173826000006/penn-20260226.htm
  HTML page:      https://secwatch.observer/filing/0000921738-26-000006

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