Wynn Resorts, Limited ( WYNN Quick Quote WYNN - Free Report) is scheduled to report first-quarter 2022 results on May 10, 2022. In the last reported quarter, the company delivered a negative earnings surprise of 10.5%. Q1 Estimates
The Zacks Consensus Estimate for the company’s first-quarter bottom line is pegged at a loss of $1.15 per share. The company had reported a loss of $2.41 in the prior-year quarter. The Zacks Consensus Estimate for revenues stands at $1 billion, indicating growth of 37.9% from the year-ago reported figure.
Factors to Note
Wynn Resorts’ first-quarter performance in Las Vegas is likely to have benefited from the gradual improvement in visitation, removal of authorized operational and capacity restrictions, and increased travel. However, the company’s performance in Macau is likely to have been negatively impacted by the Omicron variant. Cash burn on account of the coronavirus may have weighed on the first-quarter performance.
The Zacks Consensus Estimate for the company’s first-quarter revenues from Las Vegas operations is pegged at $431 million, suggesting an improvement from the year-ago reported figure of $178.7 million. The company’s Las Vegas operations are likely to have benefited from increased visitation, improving job scenarios and consumer spending environment. The consensus mark for net revenues from Wynn Macau is pegged at $354 million, suggesting growth of 97% from the year-ago period. The Zacks Consensus Estimate for Casino revenues is pegged at $537 million, indicating 4% growth year over year. The consensus estimate for food and beverage, rooms as well as entertainment, retail and other revenues is pegged at $170 million, $192 million and $122 million, suggesting improvement of 148.2%, 152% and 88%, respectively. The company’s to-be-reported quarter’s results are likely to reflect gains from robust sports betting expansion. The company anticipates solid revenue generation on the back of new product features and a unique marketing campaign. What the Zacks Model Unveils
Our proven model doesn’t 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. 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 -20.42% and a Zacks Rank #3. You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Stocks Poised to Beat Earnings
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