Yahoo Finance Red Rock Resorts (RRR) Q1 Earnings & Revenues Top Estimates
Red Rock Resorts, Inc. RRR reported first-quarter 2023 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Earnings beat the consensus mark for the 12th straight quarter. The top declined year-over-year, while the bottom line increased from the prior-year quarter’s figure. Following the announcement, shares of the company gained 4.5% during the after-hours trading session on May 4.
Earnings & Revenues
In the quarter under review, adjusted earnings per share (EPS) came in at 75 cents, beating the Zacks Consensus Estimate of 47 cents. In the prior-year quarter, the company recorded adjusted EPS of 77 cents.
Quarterly revenues of $433.6 million beat the Zacks Consensus Estimate of $416 million and increased 8% on a year-over-year basis. Adjusted EBITDA in the quarter was $194.2 million, up 8.6% year over year.
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 first-quarter 2023, revenues in the segment totaled $430 million compared with $399.7 million reported in the prior-year quarter. The segment’s adjusted EBITDA was $214.1 million, up 8% year over year.
Native American Management: During the quarter under discussion, the company did not report any revenues in the Native American Management segment.
Other Financial Details
As of Mar 31, 2023, Red Rock Resorts had cash and cash equivalent of $107.7 million compared with $117.3 million reported in the previous quarter.
Outstanding debt at the end of the first quarter amounted to $3.1 billion compared with $3 billion reported in the previous quarter.
Zacks Rank & Key Picks
Red Rock Resorts has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Consumer Discretionary sector are Boyd Gaming Corporation BYD, Crocs, Inc. CROX and PlayAGS, Inc. AGS.
Boyd Gaming carries a Zacks Rank #2 (Buy). BYD has a trailing four-quarter earnings surprise of 13.7%, on average. Shares of BYD have gained 16.5% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for BYD’s 2023 sales and EPS indicates a rise of 1.9% and 2.6%, respectively, from the year-ago period’s levels.
Crocs carries a Zacks Rank #2. The company has a trailing four-quarter earnings surprise of 19.6%, on average. Shares of Crocs have increased 67.3% in the past year.
The Zacks Consensus Estimate for CROX’s 2023 sales and EPS indicates a rise of 13% and 5.6%, respectively, from the year-ago period’s levels.
PlayAGS carries a Zacks Rank #2. The company has a trailing four-quarter earnings surprise of 133.3%, on average. The stock has declined 21% in the past year.
The Zacks Consensus Estimate for AGS 2024 sales and EPS indicates a rise of 3% and 1,856.7%, respectively, from the year-ago period’s estimated levels.
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Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
Crocs, Inc. (CROX) : Free Stock Analysis Report
Red Rock Resorts, Inc. (RRR) : Free Stock Analysis Report
PlayAGS, Inc. (AGS) : Free Stock Analysis Report
