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Factors Setting the Tone for Wynn Resorts' (WYNN) Q2 Earnings

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Wynn Resorts, Limited WYNN is scheduled to report second-quarter 2021 results on Aug 4, after the closing bell. In the last reported quarter, the company delivered a negative earnings surprise of 20.5%. It missed earnings estimates in each of the trailing four quarters, the average negative surprise being 42.1%.

Q2 Estimates

The Zacks Consensus Estimate for second-quarter bottom line is pegged at a loss of $1.41 per share. The company had reported a loss of $6.14 in the prior-year quarter. The Zacks Consensus Estimate for revenues stands at $938.5 million, indicating a whopping growth of 995.1% from the year-ago reported figure.

Factors to Note

Wynn Resorts second-quarter performance is likely to have benefited from gradual improvement in visitation and sports betting expansion. Although visitations are likely to have improved sequentially, it is still well below the pre-pandemic level. During the Golden Week (the first week of May), the company generated $3 million of normalized EBITDA per day. During the same time frame, it generated 76% of its mass volumes. Wynn Resorts’ hotel occupancy during the Golden Week was 93%. The uptrend is likely to have sustained in the rest of the second quarter.

The company might have gained from 100% capacity at its Las Vegas gaming floor. Previously, management had informed that demand is likely to increase through the summer. Higher margin mass and premium mass segments may have favored the company’s performance during second-quarter 2021. However, cash burn on account of the coronavirus might have weighed on the to-be-reported quarter’s performance.

Wynn Resorts, Limited Price and EPS Surprise

Wynn Resorts, Limited Price and EPS Surprise
Wynn Resorts, Limited Price and EPS Surprise

Wynn Resorts, Limited price-eps-surprise | Wynn Resorts, Limited Quote

What the Zacks Model Unveils

Our proven model doesn’t conclusively predict an earnings beat for Wynn Resorts this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Wynn Resorts has an Earnings ESP of -0.48% and a Zacks Rank #3.

Stocks With Favorable Combinations

Here are some stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these have the right combination of elements to deliver an earnings beat this time around.

Penn National Gaming, Inc. PENN has an Earnings ESP of + 26.32% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Hyatt Hotels Corporation H has an Earnings ESP of +12.24% and a Zacks Rank #3.

Accel Entertainment, Inc. ACEL has an Earnings ESP of +4.55% and a Zacks Rank #2.


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Hyatt Hotels Corporation (H) : Free Stock Analysis Report

Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report

Penn National Gaming, Inc. (PENN) : Free Stock Analysis Report

Accel Entertainment, Inc. (ACEL) : Free Stock Analysis Report

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