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Caesars Entertainment (CZR) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2024, Caesars Entertainment (CZR - Free Report) reported revenue of $2.83 billion, down 1.7% over the same period last year. EPS came in at $0.00, compared to $0.82 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.86 billion, representing a surprise of -0.95%. The company delivered an EPS surprise of -100.00%, with the consensus EPS estimate being $0.14.
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.
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 Caesars Entertainment performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Revenues- Las Vegas: $1.10 billion versus the six-analyst average estimate of $1.10 billion. The reported number represents a year-over-year change of -2.4%.
Net Revenues- Regional: $1.39 billion versus $1.43 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -5.2% change.
Net Revenues- Caesars Digital: $276 million versus $255.39 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +27.8% change.
Net Revenues- Managed and Branded: $70 million versus $71.64 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -2.8% change.
Net Revenues- Corporate and Other: -$2 million versus the five-analyst average estimate of $0.80 million. The reported number represents a year-over-year change of -200%.
Adjusted EBITDA- Las Vegas: $514 million versus the seven-analyst average estimate of $488.76 million.
Adjusted EBITDA- Regional: $469 million compared to the $471.77 million average estimate based on seven analysts.
Adjusted EBITDA- Corporate and Other: -$40 million versus -$41.87 million estimated by seven analysts on average.
Adjusted EBITDA- Caesars Digital: $40 million versus $25.45 million estimated by seven analysts on average.
Adjusted EBITDA- Managed and Branded: $17 million versus $18.88 million estimated by seven analysts on average.
Shares of Caesars Entertainment have returned -3.3% over the past month versus the Zacks S&P 500 composite's +0.1% 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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Caesars Entertainment (CZR) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Caesars Entertainment (CZR - Free Report) reported revenue of $2.83 billion, down 1.7% over the same period last year. EPS came in at $0.00, compared to $0.82 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.86 billion, representing a surprise of -0.95%. The company delivered an EPS surprise of -100.00%, with the consensus EPS estimate being $0.14.
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.
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 Caesars Entertainment performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Revenues- Las Vegas: $1.10 billion versus the six-analyst average estimate of $1.10 billion. The reported number represents a year-over-year change of -2.4%.
- Net Revenues- Regional: $1.39 billion versus $1.43 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -5.2% change.
- Net Revenues- Caesars Digital: $276 million versus $255.39 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +27.8% change.
- Net Revenues- Managed and Branded: $70 million versus $71.64 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -2.8% change.
- Net Revenues- Corporate and Other: -$2 million versus the five-analyst average estimate of $0.80 million. The reported number represents a year-over-year change of -200%.
- Adjusted EBITDA- Las Vegas: $514 million versus the seven-analyst average estimate of $488.76 million.
- Adjusted EBITDA- Regional: $469 million compared to the $471.77 million average estimate based on seven analysts.
- Adjusted EBITDA- Corporate and Other: -$40 million versus -$41.87 million estimated by seven analysts on average.
- Adjusted EBITDA- Caesars Digital: $40 million versus $25.45 million estimated by seven analysts on average.
- Adjusted EBITDA- Managed and Branded: $17 million versus $18.88 million estimated by seven analysts on average.
View all Key Company Metrics for Caesars Entertainment here>>>Shares of Caesars Entertainment have returned -3.3% over the past month versus the Zacks S&P 500 composite's +0.1% 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.