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Wynn Resorts (WYNN) to Post Q4 Earnings: What's in The Cards?
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Wynn Resorts, Limited (WYNN - Free Report) is scheduled to report fourth-quarter 2022 results on Feb 8, 2023, after the closing bell. In the previous quarter, the company’s earnings matched the Zacks Consensus Estimate of a loss of $1.20.
How Are Estimates Placed?
The Zacks Consensus Estimate for the fourth-quarter bottom line is pegged at a loss of $1.17 per share, indicating an improvement of 14.6% from a loss of $1.37 reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $941.1 million. The metric suggests a deterioration of 10.6% from the year-ago quarter’s figure.
Let's look at how things have shaped up in the quarter.
Factors to Note
Wynn Resorts’ fourth-quarter performance is likely to have benefited from its Las Vegas operations, improved bookings trends and sports betting expansion. During the previous quarter, the company stated that room bookings are pacing at (or above) pre-COVID levels on substantially higher ADRs. Also, it reported strength across rooms, entertainment and retail on a year-over-year basis. With group businesses returning back, the momentum is likely to have persisted in the to-be-reported quarter.
Emphasis on its non-gaming business and development projects is likely to have aided the company’s performance in the to-be-reported quarter. Recently, the company entered into a definitive agreement with Realty Income Corporation for the sale-leaseback of its real estate at Encore Boston Harbor. Valued at $1.7 billion, the financing and capital structure decision is likely to have enhanced the company’s financial flexibility in terms of retiring its near-term debt and for deploying capital for the construction of additional parking and complimentary non-gaming amenities.
However, tighter travel restrictions, quarantine policies and reduced accessibility of transportation is likely to have affected the company’s Macao operations in the fourth quarter. Although sequential improvements in visitation are likely, it is still expected to remain below pre-pandemic levels.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Wynn Resorts this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. But that's not the case here.
Earnings ESP: Wynn Resorts has an Earnings ESP of -12.24%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some 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.
Red Rock Resorts, Inc. (RRR - Free Report) has an Earnings ESP of +6.43% and a Zacks Rank #3.
Shares of Red Rock Resorts have declined 1.5% in the past year. RRR’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 66.7%.
Roku, Inc. (ROKU - Free Report) has an Earnings ESP of +1.97% and a Zacks Rank #3.
Shares of Roku have declined 59.7% in the past year. ROKU’s earnings surpassed the estimates twice in the trailing four quarters and missed twice, the average surprise being 50.6%.
Planet Fitness, Inc. (PLNT - Free Report) has an Earnings ESP of +2.53% and a Zacks Rank #3.
Shares of Planet Fitness have declined 7.3% in the past year. PLNT’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 6.6%.
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Wynn Resorts (WYNN) to Post Q4 Earnings: What's in The Cards?
Wynn Resorts, Limited (WYNN - Free Report) is scheduled to report fourth-quarter 2022 results on Feb 8, 2023, after the closing bell. In the previous quarter, the company’s earnings matched the Zacks Consensus Estimate of a loss of $1.20.
How Are Estimates Placed?
The Zacks Consensus Estimate for the fourth-quarter bottom line is pegged at a loss of $1.17 per share, indicating an improvement of 14.6% from a loss of $1.37 reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $941.1 million. The metric suggests a deterioration of 10.6% from the year-ago quarter’s figure.
Wynn Resorts, Limited Price and EPS Surprise
Wynn Resorts, Limited price-eps-surprise | Wynn Resorts, Limited Quote
Let's look at how things have shaped up in the quarter.
Factors to Note
Wynn Resorts’ fourth-quarter performance is likely to have benefited from its Las Vegas operations, improved bookings trends and sports betting expansion. During the previous quarter, the company stated that room bookings are pacing at (or above) pre-COVID levels on substantially higher ADRs. Also, it reported strength across rooms, entertainment and retail on a year-over-year basis. With group businesses returning back, the momentum is likely to have persisted in the to-be-reported quarter.
Emphasis on its non-gaming business and development projects is likely to have aided the company’s performance in the to-be-reported quarter. Recently, the company entered into a definitive agreement with Realty Income Corporation for the sale-leaseback of its real estate at Encore Boston Harbor. Valued at $1.7 billion, the financing and capital structure decision is likely to have enhanced the company’s financial flexibility in terms of retiring its near-term debt and for deploying capital for the construction of additional parking and complimentary non-gaming amenities.
However, tighter travel restrictions, quarantine policies and reduced accessibility of transportation is likely to have affected the company’s Macao operations in the fourth quarter. Although sequential improvements in visitation are likely, it is still expected to remain below pre-pandemic levels.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Wynn Resorts this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. But that's not the case here.
Earnings ESP: Wynn Resorts has an Earnings ESP of -12.24%. 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.
Stocks Poised to Beat Earnings Estimates
Here are some 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.
Red Rock Resorts, Inc. (RRR - Free Report) has an Earnings ESP of +6.43% and a Zacks Rank #3.
Shares of Red Rock Resorts have declined 1.5% in the past year. RRR’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 66.7%.
Roku, Inc. (ROKU - Free Report) has an Earnings ESP of +1.97% and a Zacks Rank #3.
Shares of Roku have declined 59.7% in the past year. ROKU’s earnings surpassed the estimates twice in the trailing four quarters and missed twice, the average surprise being 50.6%.
Planet Fitness, Inc. (PLNT - Free Report) has an Earnings ESP of +2.53% and a Zacks Rank #3.
Shares of Planet Fitness have declined 7.3% in the past year. PLNT’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 6.6%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.