Stock Monitor: Fly Leasing Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 30, 2018 / If you want access to our free earnings report on Red Rock Resorts, Inc. (NASDAQ: RRR), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=RRR. The Company posted its financial results on May 01, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Company's diluted earnings per share (EPS) grew on a y-o-y basis, outperforming market consensus estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Fly Leasing Limited (NYSE: FLY), which also belongs to the Services sector as the Company Red Rock Resorts. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Red Rock Resorts most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
During the quarter ended March 31, 2018, Red Rock Resorts' net revenues were $421.04 million compared to the $425.74 million recorded at the end of Q1 FY17. The Company attributed the decline in net revenues to ongoing construction disruption at Palace Station Hotel & Casino, and a decrease in Native American management fees. However, the Company's net revenue numbers for Q1 FY18 topped market consensus estimates of $412.92 million.
Red Rock Resorts' Casino revenues rose to $236.25 million during Q1 FY18 from $223.54 million in the last year's same quarter. The Company's Food and Beverage revenues fell to $90.93 million in Q1 FY18 from $98.55 million in Q1 FY17. The Company's Room revenues also declined to $46.63 million in the reported quarter from $50.76 million in Q1 FY17. Red Rock Resorts' management fees were $24.68 million in Q1 FY18 compared to $30.28 million in Q1 FY17. Furthermore, the Company's other revenues stood at $22.56 million in Q1 FY18 versus $22.67 million in Q1 FY17.
The hotel and casino operator reported a net income attributable to common shareholders of $51.18 million, or $0.65 per diluted Class A share, in Q1 FY18 compared to $19.90 million, or $0.30 per diluted Class A share, in Q1 FY17. Meanwhile, Wall Street had expected the Company to report a net income of $0.35 per diluted Class A share.
For the reported quarter, the Las Vegas-based Company's total operating costs and expenses were $313.20 million versus $333.05 million in the prior year's comparable quarter. The Company's operating income came in at $107.84 million in Q1 FY18 compared to $92.69 million in Q1 FY17. The Company reported adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of $140.08 million in Q1 FY18, up 2.9% from $136.19 million in Q1 FY17.
Red Rock Resorts' Las Vegas Operations segment's net revenues increased 0.2% to $395.17 million in Q1 FY18 from $394.24 million in Q1 FY17. Moreover, the segment's adjusted EBITDA increased 4.2% to $125.88 million in Q1 FY18 from $120.86 million in the prior year's corresponding period.
The Company's Native American segment contributed $24.51 million of net revenues in Q1 FY18 compared to $30.11 million in Q1 FY17. The segment's adjusted EBITDA were $22.09 million in Q1 FY18, which came in lower than the $23.32 million posted in the prior year's same period.
Red Rock Resorts' Corporate and Other segment's net revenues declined to $1.36 million in Q1 FY18 versus $1.39 million in the previous year's comparable period. Meanwhile, the segment reported negative adjusted EBITDA of $7.89 million in Q1 FY18 compared to negative adjusted EBITDA of $7.99 million in Q1 FY17.
Cash Flow and Balance Sheet
For the quarter ended March 31, 2018, the Company's net cash provided by operating activities was $106.05 million compared to $94.92 million in Q1 FY17. As on March 31, 2018, the Company had cash, cash equivalents, and restricted cash balance of $182.58 million compared to $234.74 million as on December 31, 2017. The Company reported a long-term debt of $2.58 billion in its books of accounts as on March 31, 2018, versus $2.59 billion as on December 31, 2017. Furthermore, the Company's debt to adjusted EBITDA ratio was 5.0 times, while its interest coverage was 4.6 times as on March 31, 2018.
In its earnings press release, Red Rock Resorts' Board of Directors declared a cash dividend of $0.10 per Class A common share for Q2 FY18. The dividend will be payable on June 29, 2018, to all stockholders of record as of the close of business on June 15, 2018.
Stock Performance Snapshot
May 29, 2018 - At Tuesday's closing bell, Red Rock Resorts' stock slightly fell 0.50%, ending the trading session at $33.83.
Volume traded for the day: 385.15 thousand shares.
Stock performance in the last month - up 12.62%; previous three-month period - up 0.95%; past twelve-month period - up 42.44%; and year-to-date - up 0.27%
After yesterday's close, Red Rock Resorts' market cap was at $3.95 billion.
Price to Earnings (P/E) ratio was at 23.96.
The stock has a dividend yield of 1.18%.
The stock is part of the Services sector, categorized under the Rental & Leasing Services industry.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst. For further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.