PENN Entertainment (PENN) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and PENN Entertainment published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. PENN Entertainment reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Q3 2025 GAAP results included an $825.0 million impairment charge in the Interactive segment, which is why the year-ago diluted loss per share was $6.03.
• Interactive revenues include a tax gross-up of $191.4 million ($139.5 million a year earlier): gaming tax amounts related to third-party online sports betting and iCasino partners that use PENN's market access.
• PENN's sportsbook agreement with ESPN was terminated on November 5, 2025.

Source: PENN Entertainment Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How PENN Entertainment splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• PENN Entertainment's Northeast revenue was $708 million in Q3 2026, up 3% from $691 million in Q3 2025, 38% of total revenue.
• PENN Entertainment's South revenue was $292 million in Q3 2026, flat on $291 million in Q3 2025, 16% of total revenue.
• PENN Entertainment's West revenue was $148 million in Q3 2026, up 7% from $138 million in Q3 2025, 8% of total revenue.
• PENN Entertainment's Midwest revenue was $342 million in Q3 2026, up 15% from $298 million in Q3 2025, 19% of total revenue.
• PENN Entertainment's Interactive revenue was $348 million in Q3 2026, up 17% from $298 million in Q3 2025, 19% of total revenue.
• PENN Entertainment's Other revenue was $4.0 million in Q3 2026, down 2% from $4.1 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenues and GAAP diluted earnings (loss) per share, each as first reported in that quarter's release.

We do not hold a confirmed date for PENN Entertainment's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

PENN Entertainment's revenue comes mostly from its regional casinos. In Q3 2026 its four retail segments (Northeast $708.3 million, Midwest $341.9 million, South $291.8 million and West $147.5 million) produced about $1.5 billion of the $1,840.0 million total. The Interactive segment, which runs online sports betting, iCasino and social gaming, had $348.4 million. By type, gaming revenue was $1,371.2 million and food, beverage, hotel and other $468.8 million. (PENN Entertainment Q3 2026 release, Nov 5, 2026)

New buildings drove the Midwest. PENN said its revenues rose $43.6 million mainly on gaming revenues from moving Aurora and Joliet from riverboat casinos to new land-based facilities, which opened on June 24, 2026 and August 11, 2025. Northeast revenues rose $17.8 million on slots and hotel revenue, helped by the new hotel tower at Columbus that opened on June 12, 2026. (PENN Entertainment Form 10-Q, Q3 2026, Nov 5, 2026)

Interactive revenue rose 17.0%, but mostly because of a larger tax gross-up. Other revenues there include $191.4 million of gaming tax amounts related to third-party online sports betting and iCasino partners, against $139.5 million a year earlier. PENN said its own online gaming revenues fell, as iCasino growth was offset by lower online sports betting handle. Interactive gaming revenue was $126.6 million, against $129.3 million. (PENN Entertainment Form 10-Q, Q3 2026, Nov 5, 2026)

PENN's sportsbook agreement with ESPN was terminated on November 5, 2025. The release puts the Interactive focus on standalone Hollywood iCasino in the U.S. and on Canada, where PENN operates in Ontario and reported early performance from new iCasino and online sports betting operations in Alberta. (PENN Entertainment Form 10-Q, Q3 2026, Nov 5, 2026; PENN Entertainment Q3 2026 release, Nov 5, 2026)

PENN Entertainment reported diluted EPS of $0.24 in Q3 2026 and Adjusted EPS of $0.32, against a diluted loss of $6.03 and an adjusted loss of $0.22 a year earlier. Adjusted EPS adds back impairment losses ($0.06 this quarter), pre-opening expenses, legal matters and transaction costs, net of their tax effect. The Q3 2025 loss was driven by an $825.0 million impairment charge in the Interactive segment; this quarter's $8.0 million impairment was in the South segment. (PENN Entertainment Q3 2026 release, Nov 5, 2026)

Interactive Adjusted EBITDA improved to a loss of $18.3 million from a loss of $76.6 million, which PENN attributed to lower marketing, general and administrative and labor costs. Interest expense was $105.8 million and rent expense on PENN's triple net operating leases with GLPI and VICI was $167.9 million. The effective tax rate was 3.5%. (PENN Entertainment Q3 2026 release, Nov 5, 2026; PENN Entertainment Form 10-Q, Q3 2026, Nov 5, 2026)

Diluted weighted-average shares fell to 135.4 million from 143.5 million. PENN repurchased no shares in the first nine months of 2026; in Q3 2025 it bought back 7,965,282 shares for $154.1 million. A $750.0 million repurchase program runs from January 1, 2026 to December 31, 2028. (PENN Entertainment Q3 2026 release, Nov 5, 2026; PENN Entertainment Form 10-Q, Q3 2026, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

PENN Entertainment's Q3 2026 release gives no numeric revenue, EBITDA or EPS outlook. CEO Jay Snowden said trends in the Interactive segment reinforce PENN's confidence in hitting its full-year Adjusted EBITDA target for that segment, without restating the number, and that healthy trends in both Retail and Interactive continued through October. (PENN Entertainment Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover PENN Entertainment, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones PENN Entertainment's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PENN is on is PENN a buy or a sell?, what analysts expect next is on the PENN forecast, and what the company does is on the PENN Entertainment (PENN) stock page.

Every number on this page can be traced to a document PENN Entertainment published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.