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Wynn Resorts Ltd. Message Board

  • drmicrocaps drmicrocaps Jan 31, 2013 5:10 PM Flag

    4th Quarter and year-end results

    Wynn Resorts, Limited (WYNN) today reported financial results for the fourth quarter and year ended December 31, 2012.

    Net revenues for the year ended December 31, 2012 declined 2.2% to $5,154.3 million, compared to $5,269.8 million in 2011. The revenue decrease was driven by a 3.2% decline in revenues from our Macau Operations, which was partially offset by a 0.4% increase in revenues from our Las Vegas Operations. Adjusted property EBITDA (1) in 2012 decreased 3.6% to $1,575.8 million, compared to $1,635.3 million for the year ended December 31, 2011. The EBITDA decline was driven by 2.4% lower EBITDA from our Macau Operations coupled with a 7.0% decline in EBITDA from our Las Vegas Operations.

    Net revenues for the fourth quarter of 2012 were $1,289.1 million, compared to $1,343.9 million in the fourth quarter of 2011. The revenue decline was driven by 9.7% lower revenues from our Macau Operations, which were partially offset by a 12.1% increase in revenues from our Las Vegas Operations. Adjusted property EBITDA was $398.5 million for the fourth quarter of 2012, down 0.9% compared to $402.2 million in the fourth quarter of 2011.

    On a US GAAP (Generally Accepted Accounting Principles) basis, net income attributable to Wynn Resorts for the year ended December 31, 2012 was $502.0 million, or $4.82 per diluted share, compared to net income attributable to Wynn Resorts of $613.4 million, or $4.88 per diluted share in 2011. Adjusted net income attributable to Wynn Resorts in 2012 was $558.4 million, or $5.36 per diluted share (adjusted EPS)(2) compared to an adjusted net income attributable to Wynn Resorts of $701.1 million, or $5.58 per diluted share in 2011.

    On a US GAAP basis, net income attributable to Wynn Resorts for the fourth quarter of 2012 was $111.4 million, or $1.10 per diluted share, compared to a net income attributable to Wynn Resorts of $190.5 million, or $1.52 per diluted share in the fourth quarter of 2011. Net income was negatively impacted by a $47.9 million increase in tax expenses due to the timing of the payment of dividends from Macau, stock option exercises and capital expenditures. Adjusted net income attributable to Wynn Resorts in the fourth quarter of 2012 was $118.2 million, or $1.17 per diluted share (adjusted EPS) compared to an adjusted net income attributable to Wynn Resorts of $194.4 million, or $1.55 per diluted share in the fourth quarter of 2011.

    Wynn Resorts also announced today that it has approved a cash dividend for the quarter of $1.00 per common share. This dividend will be payable on February 28, 2013, to stockholders of record on February 14, 2013.

    Sentiment: Hold

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    • Wynn Resorts, Limited Reports Fourth Quarter and Year End 2013 Results
      Business Wire Wynn Resorts, Limited
      2 hours ago
      LAS VEGAS--(BUSINESS WIRE)--

      Wynn Resorts, Limited (WYNN) today reported financial results for the fourth quarter and year ended December 31, 2013.

      Net revenues for the fourth quarter of 2013 were $1,519.9 million, compared to $1,289.1 million in the fourth quarter of 2012. The growth was driven by a 24.6% revenue increase from our Macau operations and 2.4% higher net revenues from our Las Vegas operations. Adjusted property EBITDA (1) was $498.4 million for the fourth quarter of 2013, a 25.1% increase from $398.5 million in the fourth quarter of 2012.

      For the full year, net revenues were $5,620.9 million in 2013, up 9.1% from $5,154.3 million in 2012. Adjusted property EBITDA grew 14.9% to reach an annual record of $1,810.8 million in 2013, a result of record annual performances at both Wynn Macau and Wynn Las Vegas. For 2013, adjusted property EBITDA at Wynn Macau rose 13.4% to $1,324.1 million and increased 19.1% to $486.7 million at Wynn Las Vegas.

      On a US GAAP basis, net income attributable to Wynn Resorts for the fourth quarter of 2013 was $213.9 million, or $2.10 per diluted share, compared to a net income attributable to Wynn Resorts of $111.4 million, or $1.10 per diluted share, in the fourth quarter of 2012. Such figures for the full year were $728.7 million, or $7.17 per diluted share, in 2013 and $502.0 million, or $4.82 per diluted share, in 2012.

      Adjusted net income attributable to Wynn Resorts (2) in the fourth quarter of 2013 was $231.2 million, or $2.27 per diluted share (adjusted EPS), compared to an adjusted net income attributable to Wynn Resorts of $118.2 million, or $1.17 per diluted share, in the fourth quarter of 2012. For the full year, adjusted net income attributable to Wynn Resorts rose significantly in 2013 to $776.8 million, or $7.64 per diluted share.

      Sentiment: Hold

 
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