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Compared to Estimates, Caesars Entertainment (CZR) Q2 Earnings: A Look at Key Metrics
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Caesars Entertainment (CZR - Free Report) reported $2.88 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 2.1%. EPS of $0.82 for the same period compares to $0.16 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.86 billion, representing a surprise of +0.56%. The company delivered an EPS surprise of +148.48%, with the consensus EPS estimate being $0.33.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Caesars Entertainment performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Las Vegas - Hotel occupancy: 97.6% versus 94.2% estimated by two analysts on average.
Las Vegas - Table game drop: $817 million versus the two-analyst average estimate of $958.79 million.
Caesars Digital - iGaming handle: $2.66 billion compared to the $2.50 billion average estimate based on two analysts.
Las Vegas - Slot handle: $2.74 billion versus $2.71 billion estimated by two analysts on average.
Net Revenues- Regional: $1.46 billion versus $1.44 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +0.4% change.
Net Revenues- Las Vegas: $1.13 billion versus $1.11 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -1.2% change.
Net Revenues- Managed and Branded: $72 million versus the six-analyst average estimate of $73.37 million.
Net Revenues- Corporate and Other: $2 million compared to the $0.37 million average estimate based on five analysts. The reported number represents a change of -200% year over year.
Net Revenues- Caesars Digital: $216 million versus the five-analyst average estimate of $233.78 million. The reported number represents a year-over-year change of +42.1%.
Net Revenues- Other: $335 million versus $309.54 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +1.2% change.
Net Revenues- Hotel: $525 million versus the two-analyst average estimate of $486.10 million. The reported number represents a year-over-year change of +1.2%.
Net Revenues- Casino: $1.58 billion compared to the $1.70 billion average estimate based on two analysts. The reported number represents a change of +2.3% year over year.
Shares of Caesars Entertainment have returned +16.6% over the past month versus the Zacks S&P 500 composite's +3.3% 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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Compared to Estimates, Caesars Entertainment (CZR) Q2 Earnings: A Look at Key Metrics
Caesars Entertainment (CZR - Free Report) reported $2.88 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 2.1%. EPS of $0.82 for the same period compares to $0.16 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.86 billion, representing a surprise of +0.56%. The company delivered an EPS surprise of +148.48%, with the consensus EPS estimate being $0.33.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Caesars Entertainment performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Las Vegas - Hotel occupancy: 97.6% versus 94.2% estimated by two analysts on average.
- Las Vegas - Table game drop: $817 million versus the two-analyst average estimate of $958.79 million.
- Caesars Digital - iGaming handle: $2.66 billion compared to the $2.50 billion average estimate based on two analysts.
- Las Vegas - Slot handle: $2.74 billion versus $2.71 billion estimated by two analysts on average.
- Net Revenues- Regional: $1.46 billion versus $1.44 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +0.4% change.
- Net Revenues- Las Vegas: $1.13 billion versus $1.11 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -1.2% change.
- Net Revenues- Managed and Branded: $72 million versus the six-analyst average estimate of $73.37 million.
- Net Revenues- Corporate and Other: $2 million compared to the $0.37 million average estimate based on five analysts. The reported number represents a change of -200% year over year.
- Net Revenues- Caesars Digital: $216 million versus the five-analyst average estimate of $233.78 million. The reported number represents a year-over-year change of +42.1%.
- Net Revenues- Other: $335 million versus $309.54 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +1.2% change.
- Net Revenues- Hotel: $525 million versus the two-analyst average estimate of $486.10 million. The reported number represents a year-over-year change of +1.2%.
- Net Revenues- Casino: $1.58 billion compared to the $1.70 billion average estimate based on two analysts. The reported number represents a change of +2.3% year over year.
View all Key Company Metrics for Caesars Entertainment here>>>Shares of Caesars Entertainment have returned +16.6% over the past month versus the Zacks S&P 500 composite's +3.3% 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.