We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Wynn Resorts Q3 Earnings on the Horizon: What's in the Offing?
Read MoreHide Full Article
Wynn Resorts, Limited (WYNN - Free Report) is scheduled to release third-quarter 2024 results on Nov. 4, 2024, after the closing bell. In the previous quarter, the company’s earnings missed the Zacks Consensus Estimate by 8.9%.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
WYNN’s Q3 Earnings Estimates
The Zacks Consensus Estimate for the third-quarter bottom line is pegged at $1.17, indicating a surge of 18.2% from 99 cents in the year-ago quarter. In the past 30 days, earnings estimates have remained stable.
For revenues, the consensus mark is pegged at $1.73 billion. The metric implies an increase of 3.8% from the year-ago quarter’s figure.
Let us look at how things might have shaped up in the quarter to be reported.
Factors to Note for WYNN’s Q3 Earnings Release
Wynn Resorts’ third-quarter results are likely to have been aided by increasing visitor numbers and demand, particularly in Las Vegas and Macau, along with higher gaming volumes and increased hotel occupancy. Strong activity in the mass casino segment, high direct VIP turnover, robust luxury retail sales and higher hotel revenues are expected to have aided the company’s results in third-quarter 2024. We expect revenues from Macau operations to have risen 4.5% year over year to $856.9 million.
Increased visitation in the Las Vegas market and strong contributions from food and beverage and rooms are likely to have supported the company’s performance in the to-be-reported quarter. Per our model, revenues from Las Vegas operations are expected to rise 6.3% year over year to $658.1 million.
However, the company’s results are likely to have been hurt by the dismal performance of Encore Boston Harbor. Per our models, Encore Boston Harbor revenues in the quarter-to-be-reported are likely to decline 3.3% year over year to $203.4 million.
Our proven model doesn’t conclusively predict an earnings beat for Wynn Resorts this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Wynn Resorts has an Earnings ESP of -11.85% and a Zacks Rank #5 (Strong Sell) at present.
Stocks With Favorable Combinations
Here are some stocks from the Zacks Consumer Discretionary space, which according to our model, have the right combination of elements to deliver an earnings beat this season.
MAR’s earnings for the to-be-reported quarter are expected to have increased 9.5%. It reported better-than-expected earnings in three of the trailing four quarters and missed on one occasion, the average surprise being 16.9%.
Choice Hotels International, Inc. (CHH - Free Report) currently has an Earnings ESP of +5.84% and a Zacks Rank of 3.
CHH’s earnings for the to-be-reported quarter are expected to have increased 5%. It reported better-than-expected earnings in two of the trailing four quarters and missed twice, the average surprise being 3.4%.
DraftKings Inc. (DKNG - Free Report) currently has an Earnings ESP of +16.67% and a Zacks Rank of 3.
DKNG’s earnings for the to-be-reported quarter are expected to have increased 31.2%. It reported better-than-expected earnings in two of the trailing four quarters and missed twice, the average surprise being 59.5%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Wynn Resorts Q3 Earnings on the Horizon: What's in the Offing?
Wynn Resorts, Limited (WYNN - Free Report) is scheduled to release third-quarter 2024 results on Nov. 4, 2024, after the closing bell. In the previous quarter, the company’s earnings missed the Zacks Consensus Estimate by 8.9%.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
WYNN’s Q3 Earnings Estimates
The Zacks Consensus Estimate for the third-quarter bottom line is pegged at $1.17, indicating a surge of 18.2% from 99 cents in the year-ago quarter. In the past 30 days, earnings estimates have remained stable.
For revenues, the consensus mark is pegged at $1.73 billion. The metric implies an increase of 3.8% from the year-ago quarter’s figure.
Let us look at how things might have shaped up in the quarter to be reported.
Factors to Note for WYNN’s Q3 Earnings Release
Wynn Resorts’ third-quarter results are likely to have been aided by increasing visitor numbers and demand, particularly in Las Vegas and Macau, along with higher gaming volumes and increased hotel occupancy. Strong activity in the mass casino segment, high direct VIP turnover, robust luxury retail sales and higher hotel revenues are expected to have aided the company’s results in third-quarter 2024. We expect revenues from Macau operations to have risen 4.5% year over year to $856.9 million.
Increased visitation in the Las Vegas market and strong contributions from food and beverage and rooms are likely to have supported the company’s performance in the to-be-reported quarter. Per our model, revenues from Las Vegas operations are expected to rise 6.3% year over year to $658.1 million.
However, the company’s results are likely to have been hurt by the dismal performance of Encore Boston Harbor. Per our models, Encore Boston Harbor revenues in the quarter-to-be-reported are likely to decline 3.3% year over year to $203.4 million.
Wynn Resorts, Limited Price and EPS Surprise
Wynn Resorts, Limited price-eps-surprise | Wynn Resorts, Limited Quote
What the Zacks Model Unveils for WYNN
Our proven model doesn’t conclusively predict an earnings beat for Wynn Resorts this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Wynn Resorts has an Earnings ESP of -11.85% and a Zacks Rank #5 (Strong Sell) at present.
Stocks With Favorable Combinations
Here are some stocks from the Zacks Consumer Discretionary space, which according to our model, have the right combination of elements to deliver an earnings beat this season.
Marriott International, Inc. (MAR - Free Report) currently has an Earnings ESP of +5.03% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
MAR’s earnings for the to-be-reported quarter are expected to have increased 9.5%. It reported better-than-expected earnings in three of the trailing four quarters and missed on one occasion, the average surprise being 16.9%.
Choice Hotels International, Inc. (CHH - Free Report) currently has an Earnings ESP of +5.84% and a Zacks Rank of 3.
CHH’s earnings for the to-be-reported quarter are expected to have increased 5%. It reported better-than-expected earnings in two of the trailing four quarters and missed twice, the average surprise being 3.4%.
DraftKings Inc. (DKNG - Free Report) currently has an Earnings ESP of +16.67% and a Zacks Rank of 3.
DKNG’s earnings for the to-be-reported quarter are expected to have increased 31.2%. It reported better-than-expected earnings in two of the trailing four quarters and missed twice, the average surprise being 59.5%.