We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What's in Store for Caesars Entertainment's (CZR) Q3 Earnings?
Read MoreHide Full Article
Caesars Entertainment, Inc. (CZR - Free Report) is scheduled to report third-quarter 2022 results on Nov 1, 2022, after the closing bell. In the previous quarter, the company reported a negative earnings surprise of 36%.
The Trend in Estimate Revision
The Zacks Consensus Estimate for third-quarter earnings is pegged at 15 cents per share, indicating an improvement of 113.9% from a loss of $1.08 reported in the year-ago quarter.
For revenues, the consensus mark is pegged at approximately $2,832 million, suggesting an increase of 5.5% from the year-ago quarter’s reported figure.
Caesars Entertainment, Inc. Price and EPS Surprise
Let's look at how things have shaped up in the quarter.
Factors to Note
Caesars Entertainment’s third-quarter performance is likely to have benefited from solid Las Vegas performance, backed by improvements in occupancy levels and higher gaming and food and beverage volumes. During the previous quarter’s earnings call, the company revealed that occupancy in Las Vegas reached 97%. Also, it reported a solid group revenue pace backed by pent-up demand (for group travel) and strong booking trends. With international consumers returning and conventional demand accelerating, the momentum is likely to have continued in the third quarter. The Zacks Consensus Estimate for third-quarter Las Vegas revenues is pegged at $1,051 million, indicating growth of 3.3% from the prior-year quarter’s levels.
Emphasis on digital business, sports betting expansion and property developments is likely to have driven the third-quarter top line. This and the focus on product enhancements such as cash-out speed, customer service, parlay and alternative line offerings are likely to have aided the company’s performance in the to-be-reported quarter. The Zacks Consensus Estimate for revenues from Caesars Digital is pegged at $191 million, indicating growth of 99% from $96 million reported in the prior-year quarter.
However, Increased investments in digital business (concerning product enhancements), competitive pricing strategies and lower hold in certain markets are likely to have impacted the company’s performance in the third quarter.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Caesars Entertainment this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Caesars Entertainment has an Earnings ESP of +28.09%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some other stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
RCI Hospitality Holdings, Inc. (RICK - Free Report) has an Earnings ESP of +4.15% and a Zacks Rank #1.
Shares of RCI Hospitality have increased 21.1% in the past year. RICK’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 39.4%.
JAKKS Pacific, Inc. (JAKK - Free Report) has an Earnings ESP of +3.25% and a Zacks Rank #3.
Shares of JAKKS Pacific have increased 57.7% in the past year. JAKK’s earnings surpassed the consensus mark in all of the trailing four quarters, the average surprise being 155%.
Cedar Fair, L.P. (FUN - Free Report) has an Earnings ESP of +2.38% and a Zacks Rank #3.
Shares of Cedar Fair have declined 14.1% in the past year. FUN’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 5.3%.
Image: Bigstock
What's in Store for Caesars Entertainment's (CZR) Q3 Earnings?
Caesars Entertainment, Inc. (CZR - Free Report) is scheduled to report third-quarter 2022 results on Nov 1, 2022, after the closing bell. In the previous quarter, the company reported a negative earnings surprise of 36%.
The Trend in Estimate Revision
The Zacks Consensus Estimate for third-quarter earnings is pegged at 15 cents per share, indicating an improvement of 113.9% from a loss of $1.08 reported in the year-ago quarter.
For revenues, the consensus mark is pegged at approximately $2,832 million, suggesting an increase of 5.5% from the year-ago quarter’s reported figure.
Caesars Entertainment, Inc. Price and EPS Surprise
Caesars Entertainment, Inc. price-eps-surprise | Caesars Entertainment, Inc. Quote
Let's look at how things have shaped up in the quarter.
Factors to Note
Caesars Entertainment’s third-quarter performance is likely to have benefited from solid Las Vegas performance, backed by improvements in occupancy levels and higher gaming and food and beverage volumes. During the previous quarter’s earnings call, the company revealed that occupancy in Las Vegas reached 97%. Also, it reported a solid group revenue pace backed by pent-up demand (for group travel) and strong booking trends. With international consumers returning and conventional demand accelerating, the momentum is likely to have continued in the third quarter. The Zacks Consensus Estimate for third-quarter Las Vegas revenues is pegged at $1,051 million, indicating growth of 3.3% from the prior-year quarter’s levels.
Emphasis on digital business, sports betting expansion and property developments is likely to have driven the third-quarter top line. This and the focus on product enhancements such as cash-out speed, customer service, parlay and alternative line offerings are likely to have aided the company’s performance in the to-be-reported quarter. The Zacks Consensus Estimate for revenues from Caesars Digital is pegged at $191 million, indicating growth of 99% from $96 million reported in the prior-year quarter.
However, Increased investments in digital business (concerning product enhancements), competitive pricing strategies and lower hold in certain markets are likely to have impacted the company’s performance in the third quarter.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Caesars Entertainment this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Caesars Entertainment has an Earnings ESP of +28.09%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks Poised to Beat on Earnings
Here are some other stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
RCI Hospitality Holdings, Inc. (RICK - Free Report) has an Earnings ESP of +4.15% and a Zacks Rank #1.
Shares of RCI Hospitality have increased 21.1% in the past year. RICK’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 39.4%.
JAKKS Pacific, Inc. (JAKK - Free Report) has an Earnings ESP of +3.25% and a Zacks Rank #3.
Shares of JAKKS Pacific have increased 57.7% in the past year. JAKK’s earnings surpassed the consensus mark in all of the trailing four quarters, the average surprise being 155%.
Cedar Fair, L.P. (FUN - Free Report) has an Earnings ESP of +2.38% and a Zacks Rank #3.
Shares of Cedar Fair have declined 14.1% in the past year. FUN’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 5.3%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.