Red Rock Resorts (RRR - Free Report) reported $488.9 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 12.7%. EPS of $0.68 for the same period compares to $0.75 a year ago.
The reported revenue represents a surprise of -0.05% over the Zacks Consensus Estimate of $489.12 million. With the consensus EPS estimate being $0.50, the EPS surprise was +36.00%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Red Rock Resorts performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Operating Revenues- Casino: $316.85 million versus the four-analyst average estimate of $319.75 million. The reported number represents a year-over-year change of +9.9%.
- Net Revenue- Las Vegas operations: $485.57 million versus $470.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.9% change.
- Operating Revenues- Food and Beverage: $93.28 million versus the four-analyst average estimate of $84.36 million. The reported number represents a year-over-year change of +19.4%.
- Operating Revenues- Other: $25.88 million versus the four-analyst average estimate of $21.79 million. The reported number represents a year-over-year change of +12.2%.
- Operating Revenues- Room: $52.89 million versus the four-analyst average estimate of $48.64 million. The reported number represents a year-over-year change of +20.4%.
- Net Revenue- Corporate and other: $3.33 million compared to the $3.65 million average estimate based on two analysts. The reported number represents a change of -7.2% year over year.
- Adjusted EBITDA- Las Vegas Operations: $229.76 million compared to the $229.51 million average estimate based on six analysts.
- Adjusted EBITDA- Corporate and other: -$20.62 million compared to the -$19.67 million average estimate based on six analysts.
View all Key Company Metrics for Red Rock Resorts here>>>Shares of Red Rock Resorts have returned -11.8% over the past month versus the Zacks S&P 500 composite's -0.4% 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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Red Rock Resorts (RRR - Free Report) reported $488.9 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 12.7%. EPS of $0.68 for the same period compares to $0.75 a year ago.
The reported revenue represents a surprise of -0.05% over the Zacks Consensus Estimate of $489.12 million. With the consensus EPS estimate being $0.50, the EPS surprise was +36.00%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Red Rock Resorts performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Operating Revenues- Casino: $316.85 million versus the four-analyst average estimate of $319.75 million. The reported number represents a year-over-year change of +9.9%.
- Net Revenue- Las Vegas operations: $485.57 million versus $470.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.9% change.
- Operating Revenues- Food and Beverage: $93.28 million versus the four-analyst average estimate of $84.36 million. The reported number represents a year-over-year change of +19.4%.
- Operating Revenues- Other: $25.88 million versus the four-analyst average estimate of $21.79 million. The reported number represents a year-over-year change of +12.2%.
- Operating Revenues- Room: $52.89 million versus the four-analyst average estimate of $48.64 million. The reported number represents a year-over-year change of +20.4%.
- Net Revenue- Corporate and other: $3.33 million compared to the $3.65 million average estimate based on two analysts. The reported number represents a change of -7.2% year over year.
- Adjusted EBITDA- Las Vegas Operations: $229.76 million compared to the $229.51 million average estimate based on six analysts.
- Adjusted EBITDA- Corporate and other: -$20.62 million compared to the -$19.67 million average estimate based on six analysts.
View all Key Company Metrics for Red Rock Resorts here>>>Shares of Red Rock Resorts have returned -11.8% over the past month versus the Zacks S&P 500 composite's -0.4% 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.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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