Caesars Entertainment (CZR) Misses Q4 Earnings Estimates
Caesars Entertainment Corp CZR just released their fourth quarter fiscal 2015 earnings results, posting earnings of $-0.32 per share and revenue of $1.1 billion.
Currently, CZR has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Caesars:
1. Missed earnings estimates. The company posted $-0.32 per share, missing our Zacks Consensus Estimate of $-0.14. This number excludes $0.22 from non-recurring items.
2. Beat revenue estimates. The company saw revenue figures of $1.1 billion, surpassing our estimate of $1.080 billion and reflecting an increase of 8.7% on a year-over-year basis.
3. Reported that Quarterly adjusted EBITDA for Continuing CEC grew 51.7% year-over-year to $305 million.
4. "Caesars achieved solid operating momentum throughout 2015. Including CEOC's results, the enterprise experienced its best full-year of operating results since 2007," said Mark Frissora, President and CEO of Caesars Entertainment. "These results largely reflect higher hotel revenues, with cash ADR up double-digits, and increased marketing and operational efficiencies, which delivered approximately $350 million in incremental EBITDA enterprise-wide year-over-year."
5. CZR was down $0.00, or 0.02%, to $7.52 as of 4:34 PM ET in after hours trading shortly after its earnings report was released.
Here’s a graph that looks at Caesars’ quarterly revenue and growth rate:
Caesars Entertainment Corporation is a gaming company engaged in providing casino entertainment services. The Company operates casino resorts on multiple continents, and its casino entertainment facilities include land-based casinos, riverboat or dockside casinos, managed casinos, combination greyhound racetrack and casino, combination thoroughbred racetrack and casino, harness racetrack and casino, hotel and convention space, restaurants, and non-gaming entertainment facilities. Its resorts operate primarily under the Harrah's(TM), Caesars(TM) and Horseshoe(TM) brand names. Caesars Entertainment Corporation was founded in 1937 and is based in Las Vegas, Nevada.
Check back later for our full analysis onCaesars’ fourthquarter earnings report!
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