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.
Caesars Entertainment (CZR) to Report Q2 Earnings: What to Expect?
Read MoreHide Full Article
Caesars Entertainment, Inc. (CZR - Free Report) is scheduled to report second-quarter 2023 results on Aug 1, 2023, after market close.
In the last reported quarter, the company’s earnings and revenues surpassed the Zacks Consensus Estimate by 50% and 3.3%, respectively. Earnings and revenues increased 104.3% and 23.5% from the year-ago quarter’s figures, respectively.
Notably, CZR surpassed earnings estimates thrice but missed the same once in all of the trailing four quarters, the average surprise being 28.2%.
The Trend in Estimate Revision
The Zacks Consensus Estimate for second-quarter earnings per share (EPS) is pegged at 33 cents, indicating an improvement of 106.3% from 16 cents reported in the year-ago quarter.
The consensus mark for revenues is pegged at $2.9 billion, suggesting an increase of 1.7% from the prior-year quarter’s reported figure.
Caesars Entertainment, Inc. Price and EPS Surprise
Caesars Entertainment’s second-quarter top line is expected to have increased year over year on the back of pent-up demand, strong Group and Convention business and improved marketing capabilities. Also, the emphasis on strategic initiative and expansion into new markets are likely to have aided the company’s performance in the to-be-reported quarter.
Per our model, second-quarter total Las Vegas revenues and Regional revenues are estimated to be $1,142.2 million and $1,456.9 million compared with year ago reported figures of $1,142 million and $1,455 million, respectively. We expect Manage and Branded revenues to be at $74.3 million in the to-be-reported quarter compared with the year-ago reported figures of $74 million.
Increased focus on sports betting expansion and product enhancements are likely to have paved a path for improved sales in Caesars Digital segment (comprising sports betting, iGaming and poker). Our model estimates second-quarter Caesars Digital revenues to be at $158.6 million compared with the prior-year quarter’s reported figures of $152 million.
Increased investments in digital business and increased operating expenses are likely to have hurt the company’s bottom line in the to-be-reported quarter. Our model predicts total operating expenses in second-quarter to be at $2,171.6 million compared with $2,219 million reported in the previous year.
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. This is exactly the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Caesars Entertainment has an Earnings ESP of +26.94% and carries a Zacks Rank #3.
Other Stocks With Favorable Combinations
Here are some other companies in the Zacks Consumer Discretionary sector that too have the right combination of elements to post an earnings beat on their respective quarters to be reported.
CRI’s earnings missed the consensus mark once but beat the same on three other occasions, the average surprise being 25.3%. Earnings for the to-be-reported quarter are expected to decline 60.8% year over year.
Electronic Arts Inc. (EA - Free Report) has an Earnings ESP of +2.54% and carries a Zacks Rank #2.
EA’s earnings topped the consensus mark in two of the last four quarters and missed on other two occasions, the average being 7.3%. Earnings for the to-be-reported quarter are expected to grow 215.6% year over year.
MGM Resorts International (MGM - Free Report) has an Earnings ESP of +19.43% and a Zacks Rank #2.
MGM’s earnings topped the consensus mark in two of the last four quarters and missed on other two occasions, the average being 81%. Earnings for the to-be-reported quarter are expected to grow 1666.7% year over year.
Image: Bigstock
Caesars Entertainment (CZR) to Report Q2 Earnings: What to Expect?
Caesars Entertainment, Inc. (CZR - Free Report) is scheduled to report second-quarter 2023 results on Aug 1, 2023, after market close.
In the last reported quarter, the company’s earnings and revenues surpassed the Zacks Consensus Estimate by 50% and 3.3%, respectively. Earnings and revenues increased 104.3% and 23.5% from the year-ago quarter’s figures, respectively.
Notably, CZR surpassed earnings estimates thrice but missed the same once in all of the trailing four quarters, the average surprise being 28.2%.
The Trend in Estimate Revision
The Zacks Consensus Estimate for second-quarter earnings per share (EPS) is pegged at 33 cents, indicating an improvement of 106.3% from 16 cents reported in the year-ago quarter.
The consensus mark for revenues is pegged at $2.9 billion, suggesting an increase of 1.7% from the prior-year quarter’s reported figure.
Caesars Entertainment, Inc. Price and EPS Surprise
Caesars Entertainment, Inc. price-eps-surprise | Caesars Entertainment, Inc. Quote
Factors to Note
Caesars Entertainment’s second-quarter top line is expected to have increased year over year on the back of pent-up demand, strong Group and Convention business and improved marketing capabilities. Also, the emphasis on strategic initiative and expansion into new markets are likely to have aided the company’s performance in the to-be-reported quarter.
Per our model, second-quarter total Las Vegas revenues and Regional revenues are estimated to be $1,142.2 million and $1,456.9 million compared with year ago reported figures of $1,142 million and $1,455 million, respectively. We expect Manage and Branded revenues to be at $74.3 million in the to-be-reported quarter compared with the year-ago reported figures of $74 million.
Increased focus on sports betting expansion and product enhancements are likely to have paved a path for improved sales in Caesars Digital segment (comprising sports betting, iGaming and poker). Our model estimates second-quarter Caesars Digital revenues to be at $158.6 million compared with the prior-year quarter’s reported figures of $152 million.
Increased investments in digital business and increased operating expenses are likely to have hurt the company’s bottom line in the to-be-reported quarter. Our model predicts total operating expenses in second-quarter to be at $2,171.6 million compared with $2,219 million reported in the previous year.
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. This is exactly the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Caesars Entertainment has an Earnings ESP of +26.94% and carries a Zacks Rank #3.
Other Stocks With Favorable Combinations
Here are some other companies in the Zacks Consumer Discretionary sector that too have the right combination of elements to post an earnings beat on their respective quarters to be reported.
Carter's, Inc. (CRI - Free Report) has an Earnings ESP of +7.84% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
CRI’s earnings missed the consensus mark once but beat the same on three other occasions, the average surprise being 25.3%. Earnings for the to-be-reported quarter are expected to decline 60.8% year over year.
Electronic Arts Inc. (EA - Free Report) has an Earnings ESP of +2.54% and carries a Zacks Rank #2.
EA’s earnings topped the consensus mark in two of the last four quarters and missed on other two occasions, the average being 7.3%. Earnings for the to-be-reported quarter are expected to grow 215.6% year over year.
MGM Resorts International (MGM - Free Report) has an Earnings ESP of +19.43% and a Zacks Rank #2.
MGM’s earnings topped the consensus mark in two of the last four quarters and missed on other two occasions, the average being 81%. Earnings for the to-be-reported quarter are expected to grow 1666.7% year over year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.