Caesars Entertainment (CZR - Free Report) reported $2.88 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 2.1%. EPS of $0.82 for the same period compares to $0.16 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.86 billion, representing a surprise of +0.56%. The company delivered an EPS surprise of +148.48%, with the consensus EPS estimate being $0.33.
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.
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:
- Las Vegas - Hotel occupancy: 97.6% versus 94.2% estimated by two analysts on average.
- Las Vegas - Table game drop: $817 million versus the two-analyst average estimate of $958.79 million.
- Caesars Digital - iGaming handle: $2.66 billion compared to the $2.50 billion average estimate based on two analysts.
- Las Vegas - Slot handle: $2.74 billion versus $2.71 billion estimated by two analysts on average.
- Net Revenues- Regional: $1.46 billion versus $1.44 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +0.4% change.
- Net Revenues- Las Vegas: $1.13 billion versus $1.11 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -1.2% change.
- Net Revenues- Managed and Branded: $72 million versus the six-analyst average estimate of $73.37 million.
- Net Revenues- Corporate and Other: $2 million compared to the $0.37 million average estimate based on five analysts. The reported number represents a change of -200% year over year.
- Net Revenues- Caesars Digital: $216 million versus the five-analyst average estimate of $233.78 million. The reported number represents a year-over-year change of +42.1%.
- Net Revenues- Other: $335 million versus $309.54 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +1.2% change.
- Net Revenues- Hotel: $525 million versus the two-analyst average estimate of $486.10 million. The reported number represents a year-over-year change of +1.2%.
- Net Revenues- Casino: $1.58 billion compared to the $1.70 billion average estimate based on two analysts. The reported number represents a change of +2.3% year over year.
View all Key Company Metrics for Caesars Entertainment here>>>Shares of Caesars Entertainment have returned +16.6% over the past month versus the Zacks S&P 500 composite's +3.3% 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 - Free Report) reported $2.88 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 2.1%. EPS of $0.82 for the same period compares to $0.16 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.86 billion, representing a surprise of +0.56%. The company delivered an EPS surprise of +148.48%, with the consensus EPS estimate being $0.33.
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.
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:
- Las Vegas - Hotel occupancy: 97.6% versus 94.2% estimated by two analysts on average.
- Las Vegas - Table game drop: $817 million versus the two-analyst average estimate of $958.79 million.
- Caesars Digital - iGaming handle: $2.66 billion compared to the $2.50 billion average estimate based on two analysts.
- Las Vegas - Slot handle: $2.74 billion versus $2.71 billion estimated by two analysts on average.
- Net Revenues- Regional: $1.46 billion versus $1.44 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +0.4% change.
- Net Revenues- Las Vegas: $1.13 billion versus $1.11 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -1.2% change.
- Net Revenues- Managed and Branded: $72 million versus the six-analyst average estimate of $73.37 million.
- Net Revenues- Corporate and Other: $2 million compared to the $0.37 million average estimate based on five analysts. The reported number represents a change of -200% year over year.
- Net Revenues- Caesars Digital: $216 million versus the five-analyst average estimate of $233.78 million. The reported number represents a year-over-year change of +42.1%.
- Net Revenues- Other: $335 million versus $309.54 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +1.2% change.
- Net Revenues- Hotel: $525 million versus the two-analyst average estimate of $486.10 million. The reported number represents a year-over-year change of +1.2%.
- Net Revenues- Casino: $1.58 billion compared to the $1.70 billion average estimate based on two analysts. The reported number represents a change of +2.3% year over year.
View all Key Company Metrics for Caesars Entertainment here>>>Shares of Caesars Entertainment have returned +16.6% over the past month versus the Zacks S&P 500 composite's +3.3% 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.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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