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Wynn Resorts (WYNN) to Report Q2 Earnings: What's in Store?

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Wynn Resorts, Limited (WYNN - Free Report) is scheduled to release second-quarter 2023 results on Aug 9, 2023, after the closing bell. In the previous quarter, the company delivered an earnings surprise of 261.1%.

How are Estimates Placed?

The Zacks Consensus Estimate for Wynn Resorts' second-quarter earnings per share is pegged at 51 cents. WYNN reported a loss per share of 82 cents in the prior-year quarter.

Wynn Resorts, Limited Price and EPS Surprise

 

Wynn Resorts, Limited Price and EPS Surprise

Wynn Resorts, Limited price-eps-surprise | Wynn Resorts, Limited Quote

 

For revenues, the consensus mark is pegged at nearly $1,491 million. The metric suggests an improvement of 64.1% from the year-ago quarter’s figure.

Let's look at how things have shaped up in the quarter.

Factors to Note

Wynn Resorts’ top-line growth in the second quarter is expected to have been backed by strong demand for sports betting, non-gaming revenue-boosting strategies and expansion efforts. This and continued rooms pricing power and a robust programming calendar are likely to have aided the company’s performance in the to-be-reported quarter.

Increased visitation (in the Las Vegas market) and robust recovery in the Macau region (owing to the easing of restrictions) are likely to have supported the company’s performance in the to-be-reported quarter. Per our model, revenues from Las Vegas operations are expected to rise 27% year over year (to $712.6 million) in the second quarter. We expect revenues from Macau operations to rise 239.9% year over year to $398.5 million.

Strong contributions from Encore Boston Harbor might have aided the company’s first-quarter top line. We expect revenues from Encore Boston Harbor to rise 6.4% year over year (to $223.5 million) in the second quarter.

The emphasis on development projects (including incremental parking, food and beverage and entertainment amenities) and increased sign-ups (to Wynn Rewards loyalty program) have been a catalyst for Wynn Resorts. The momentum is expected to have driven top-line growth.

What the Zacks Model Unveils

Our proven model predicts 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 odds of an earnings beat.

Earnings ESP: Wynn Resorts has an Earnings ESP of +47.78%. 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 Earnings Estimates

Here are some other stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.

MGM Resorts International (MGM - Free Report) has an Earnings ESP of +2.19% and a Zacks Rank #1.

Shares of MGM Resorts have increased 30.4% in the past year. MGM’s earnings beat estimates in three of the trailing four quarters and missed once, the average surprise being 105.7%.

Boyd Gaming Corporation (BYD - Free Report) has an Earnings ESP of +1.11% and a Zacks Rank of 3.

Shares of Boyd Gaming have gained 20.8% in the past year. BYD’s earnings beat estimates in all the trailing four quarters, the average surprise being 12.2%.

Hilton Worldwide Holdings Inc. (HLT - Free Report) has an Earnings ESP of +0.90% and a Zacks Rank of 3.

Shares of Hilton have gained 15.8% in the past year. HLT’s earnings beat estimates in all the trailing four quarters, the average surprise being 12.5%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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