Here's What Key Metrics Tell Us About Red Rock Resorts (RRR) Q3 Earnings
Red Rock Resorts (RRR) reported $411.61 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 0.7%. EPS of $0.60 for the same period compares to $0.84 a year ago.
The reported revenue represents a surprise of +0.50% over the Zacks Consensus Estimate of $409.57 million. With the consensus EPS estimate being $0.38, the EPS surprise was +57.89%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Red Rock Resorts performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Operating Revenues- Casino: $272.75 million versus $277.50 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.4% change.
Net Revenue- Las Vegas operations: $407.96 million versus the four-analyst average estimate of $410.14 million. The reported number represents a year-over-year change of -0.9%.
Operating Revenues- Food and Beverage: $72.78 million versus $71.49 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.
Operating Revenues- Other: $24.05 million versus $22.29 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.6% change.
Operating Revenues- Room: $42.04 million compared to the $39.63 million average estimate based on four analysts. The reported number represents a change of +7.6% year over year.
Net Revenue- Corporate and other: $3.65 million versus the two-analyst average estimate of $3.45 million. The reported number represents a year-over-year change of +26.7%.
Adjusted EBITDA- Las Vegas Operations: $191.41 million versus the six-analyst average estimate of $191.94 million.
Adjusted EBITDA- Corporate/Other: -$16.23 million versus the six-analyst average estimate of -$18.26 million.
View all Key Company Metrics for Red Rock Resorts here>>>
Shares of Red Rock Resorts have returned +3.1% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Red Rock Resorts, Inc. (RRR) : Free Stock Analysis Report
