A month has gone by since the last earnings report for Red Rock Resorts (RRR Quick QuoteRRR - Free Report) . Shares have lost about 2.8% in that time frame, outperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Red Rock Resorts due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

Red Rock Resorts Q4 Earnings & Revenues Top Estimates

Red Rock Resorts reported fourth-quarter 2022 results, wherein both earnings and revenues surpassed the respective Zacks Consensus Estimate and increased year over year.

Earnings & Revenues

In the quarter under review, adjusted earnings per share (EPS) came in at $1.00, which beat the Zacks Consensus Estimate of 56 cents. In the prior-year quarter, the company had adjusted EPS of 55 cents.

Quarterly revenues of $425.5 million beat the Zacks Consensus Estimate of $422 million and improved 0.7% on a year-over-year basis. The upside was primarily driven by streamlining of operations and optimization of marketing initiatives.

Meanwhile, adjusted EBITDA in the quarter was $194.1 million, up 2.5% year over year.

Segmental Details

Las Vegas Operations: During fourth-quarter 2022, revenues in the segment totaled $419.6 million compared with $420.5 million reported in the prior-year quarter. The upside can primarily be attributed to the increased time spent on devices and strong spending per visit across its portfolio. The segment’s adjusted EBITDA was $206.9 million, down 0.9% year over year.

Native American Management: The segment’s revenues came in at $2.2 million.

Other Financial Details

As of Dec 31, 2022, RRR had cash and cash equivalents of $117.3 million compared with $101.1 million reported in the previous quarter. Outstanding debt at the end of the fourth quarter amounted to $3 billion.

How Have Estimates Been Moving Since Then?

It turns out, estimates review have trended upward during the past month.

VGM Scores

Currently, Red Rock Resorts has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Red Rock Resorts has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

Red Rock Resorts belongs to the Zacks Gaming industry. Another stock from the same industry, Las Vegas Sands (LVS Quick QuoteLVS - Free Report) , has gained 2.6% over the past month. More than a month has passed since the company reported results for the quarter ended December 2022.

Las Vegas Sands reported revenues of $1.12 billion in the last reported quarter, representing a year-over-year change of +10.8%. EPS of -$0.19 for the same period compares with -$0.22 a year ago.

For the current quarter, Las Vegas Sands is expected to post earnings of $0.18 per share, indicating a change of +145% from the year-ago quarter. The Zacks Consensus Estimate has changed +9.1% over the last 30 days.

Las Vegas Sands has a Zacks Rank #1 (Strong Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.