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Here's What Key Metrics Tell Us About Red Rock Resorts (RRR) Q2 Earnings

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Red Rock Resorts (RRR - Free Report) reported $486.4 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 16.9%. EPS of $0.59 for the same period compares to $0.65 a year ago.

The reported revenue represents a surprise of +2.55% over the Zacks Consensus Estimate of $474.33 million. With the consensus EPS estimate being $0.43, the EPS surprise was +37.21%.

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.

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: $319.63 million versus $304.38 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +18.6% change.
  • Operating Revenues- Room: $50.14 million versus $48.80 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.7% change.
  • Operating Revenues- Food and Beverage: $91.72 million versus $84.26 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +18.2% change.
  • Operating Revenues- Other: $24.91 million versus $23.50 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.3% change.
  • Net Revenue- Las Vegas operations: $483.21 million versus the three-analyst average estimate of $460.73 million. The reported number represents a year-over-year change of +17.1%.
  • Net Revenue- Corporate and other: $3.19 million versus the two-analyst average estimate of $3.51 million. The reported number represents a year-over-year change of -10.1%.
  • Adjusted EBITDA- Las Vegas Operations: $223.15 million versus the six-analyst average estimate of $209.26 million.
  • Adjusted EBITDA- Corporate and other: -$21.49 million versus the six-analyst average estimate of -$19.42 million.
View all Key Company Metrics for Red Rock Resorts here>>>

Shares of Red Rock Resorts have returned +12.5% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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