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Red Rock Resorts (RRR) Reports Q1 Earnings: What Key Metrics Have to Say
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Red Rock Resorts (RRR - Free Report) reported $433.64 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 8%. EPS of $0.75 for the same period compares to $0.77 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $415.93 million, representing a surprise of +4.26%. The company delivered an EPS surprise of +59.57%, with the consensus EPS estimate being $0.47.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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:
Net Revenue- Las Vegas operations: $430.05 million compared to the $412.73 million average estimate based on four analysts. The reported number represents a change of +7.6% year over year.
Operating Revenues- Food and Beverage: $78.15 million versus the three-analyst average estimate of $70.93 million. The reported number represents a year-over-year change of +19%.
Operating Revenues- Room: $43.94 million compared to the $41.32 million average estimate based on three analysts. The reported number represents a change of +19.5% year over year.
Operating Revenues- Casino: $288.24 million versus $278.17 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +3% change.
Operating Revenues- Other: $23.07 million compared to the $20.78 million average estimate based on three analysts. The reported number represents a change of +20.3% year over year.
Adjusted EBITDA- Las Vegas Operations: $214.09 million versus the eight-analyst average estimate of $197.50 million.
Adjusted EBITDA- Corporate/Other: -$19.91 million versus the eight-analyst average estimate of -$16.81 million.
Shares of Red Rock Resorts have returned +8.5% over the past month versus the Zacks S&P 500 composite's -0.7% 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 (RRR) Reports Q1 Earnings: What Key Metrics Have to Say
Red Rock Resorts (RRR - Free Report) reported $433.64 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 8%. EPS of $0.75 for the same period compares to $0.77 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $415.93 million, representing a surprise of +4.26%. The company delivered an EPS surprise of +59.57%, with the consensus EPS estimate being $0.47.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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:
- Net Revenue- Las Vegas operations: $430.05 million compared to the $412.73 million average estimate based on four analysts. The reported number represents a change of +7.6% year over year.
- Operating Revenues- Food and Beverage: $78.15 million versus the three-analyst average estimate of $70.93 million. The reported number represents a year-over-year change of +19%.
- Operating Revenues- Room: $43.94 million compared to the $41.32 million average estimate based on three analysts. The reported number represents a change of +19.5% year over year.
- Operating Revenues- Casino: $288.24 million versus $278.17 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +3% change.
- Operating Revenues- Other: $23.07 million compared to the $20.78 million average estimate based on three analysts. The reported number represents a change of +20.3% year over year.
- Adjusted EBITDA- Las Vegas Operations: $214.09 million versus the eight-analyst average estimate of $197.50 million.
- Adjusted EBITDA- Corporate/Other: -$19.91 million versus the eight-analyst average estimate of -$16.81 million.
View all Key Company Metrics for Red Rock Resorts here>>>Shares of Red Rock Resorts have returned +8.5% over the past month versus the Zacks S&P 500 composite's -0.7% 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.