Red Rock Resorts (RRR) Q3 Earnings & Revenues Beat Estimates
Red Rock Resorts, Inc. RRR reported third-quarter 2023 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Earnings beat the consensus mark for the 14th straight quarter. Yet, the metrics declined on a year-over-year basis.
Earnings & Revenues
In the quarter under review, adjusted earnings per share (EPS) came in at 60 cents, outpacing the Zacks Consensus Estimate of 38 cents. In the prior-year quarter, it recorded adjusted EPS of 83 cents.
Quarterly revenues of $411.6 million surpassed the Zacks Consensus Estimate of $410 million but inched down 0.7% on a year-over-year basis. Adjusted EBITDA was $175.2 million, down 3.7% year over year. Our model estimated the metric to fall 3% year over year to $176.4 million.
Red Rock Resorts, Inc. Price, Consensus and EPS Surprise
Red Rock Resorts, Inc. price-consensus-eps-surprise-chart | Red Rock Resorts, Inc. Quote
Segmental Details
Las Vegas Operations: During third-quarter 2023, segmental revenues totaled $408 million, down 0.9% from $411.6 million in the prior-year quarter. Our projection was $405.3 million. Adjusted EBITDA was $191.4 million, down 4.3% year over year.
Native American Management: During the quarter under discussion, the company reported no segmental revenues.
Other Financial Details
As of Sep 30, 2023, Red Rock Resorts had cash and cash equivalents of $122.8 million compared with $117.3 million at 2022 end.
Outstanding debt at third-quarter end was $3.3 billion compared with $3.2 billion in the preceding quarter.
The company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
Las Vegas Sands Corp. LVS reported third-quarter 2023 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis. During third-quarter 2023, LVS reported adjusted EPS of 55 cents, surpassing the Zacks Consensus Estimate of 53 cents by 3.8%. In the year-ago quarter, it incurred adjusted loss of 27 cents per share.
Boyd Gaming Corporation BYD reported mixed third-quarter 2023 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. While the top line improved year over year, the bottom line decreased from the prior-year figure. In the quarter under review, adjusted EPS of $1.36 lagged the Zacks Consensus Estimate of $1.44 by 5.6%. In the prior-year quarter, BYD reported adjusted EPS of $1.48.
Caesars Entertainment, Inc. CZR reported impressive third-quarter 2023 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Also, the top and bottom lines jumped on a year-over-year basis. During the quarter, CZR recorded adjusted EPS of 34 cents, beating the Zacks Consensus Estimate of 27 cents by 25.9%. In the prior-year quarter, it reported adjusted EPS of 24 cents.
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Las Vegas Sands Corp. (LVS) : Free Stock Analysis Report
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Caesars Entertainment, Inc. (CZR) : Free Stock Analysis Report
Red Rock Resorts, Inc. (RRR) : Free Stock Analysis Report
