PENN Entertainment Q4 net loss narrows to $73.4 million; revenue rises to $1.8 billion
PENN Entertainment reported fourth-quarter 2025 revenue of $1.8 billion, up from $1.7 billion a year earlier, and a net loss of $73.4 million, down from $133.8 million. Full-year 2025 net loss was $845.3 million, including $945.3 million in impairment losses, and management expects 2026 segment Adjusted EBITDAR to grow 20%.
Key points
- Q4 revenues were $1,806.2 million versus $1,669.0 million a year earlier.
- Diluted loss per share was $0.55 versus $0.88; Adjusted EPS was $0.07 versus a loss of $0.44.
- Q4 impairment losses were $105.3 million; full-year 2025 impairment losses were $945.3 million.
- Management expects 2026 segment Adjusted EBITDAR growth of 20% and traditional net leverage to fall by more than 2 turns.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 26, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.