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Wynn (WYNN) Reports Q2 Earnings: What Key Metrics Have to Say
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Wynn Resorts (WYNN - Free Report) reported $1.6 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 75.6%. EPS of $0.91 for the same period compares to -$0.82 a year ago.
The reported revenue represents a surprise of +7.02% over the Zacks Consensus Estimate of $1.49 billion. With the consensus EPS estimate being $0.51, the EPS surprise was +78.43%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Wynn performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
REVPAR - Wynn Las Vegas: $418 versus the three-analyst average estimate of $439.42.
Slot Machine Handle - Las Vegas Operations: $1.52 billion versus $1.36 billion estimated by three analysts on average.
Room occupancy rate - Wynn Las Vegas: 90.6% compared to the 91.39% average estimate based on three analysts.
Average daily room rate - Wynn Las Vegas: $462 compared to the $479.36 average estimate based on three analysts.
Operating revenues- Las Vegas Operations: $578.07 million versus $601.85 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3% change.
Operating revenues- Macau Operations: $769.94 million compared to the $626.06 million average estimate based on four analysts. The reported number represents a change of +556.8% year over year.
Operating revenues- Encore Boston Harbor: $221.93 million versus the four-analyst average estimate of $216.82 million. The reported number represents a year-over-year change of +5.6%.
Operating revenues- Wynn Macau: $301.59 million versus $233.13 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +414.8% change.
Operating revenues- Wynn Palace: $468.35 million versus $371.83 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +698.5% change.
Encore Boston Harbor- Operating revenues- Rooms: $22.52 million compared to the $23.27 million average estimate based on three analysts.
Encore Boston Harbor- Operating revenues- Casino: $166.83 million versus $160.46 million estimated by three analysts on average.
Las Vegas Operations- Operating revenues- Rooms: $177.77 million compared to the $188.52 million average estimate based on three analysts.
Shares of Wynn have returned -4.8% over the past month versus the Zacks S&P 500 composite's +2.4% 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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Wynn (WYNN) Reports Q2 Earnings: What Key Metrics Have to Say
Wynn Resorts (WYNN - Free Report) reported $1.6 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 75.6%. EPS of $0.91 for the same period compares to -$0.82 a year ago.
The reported revenue represents a surprise of +7.02% over the Zacks Consensus Estimate of $1.49 billion. With the consensus EPS estimate being $0.51, the EPS surprise was +78.43%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Wynn performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- REVPAR - Wynn Las Vegas: $418 versus the three-analyst average estimate of $439.42.
- Slot Machine Handle - Las Vegas Operations: $1.52 billion versus $1.36 billion estimated by three analysts on average.
- Room occupancy rate - Wynn Las Vegas: 90.6% compared to the 91.39% average estimate based on three analysts.
- Average daily room rate - Wynn Las Vegas: $462 compared to the $479.36 average estimate based on three analysts.
- Operating revenues- Las Vegas Operations: $578.07 million versus $601.85 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3% change.
- Operating revenues- Macau Operations: $769.94 million compared to the $626.06 million average estimate based on four analysts. The reported number represents a change of +556.8% year over year.
- Operating revenues- Encore Boston Harbor: $221.93 million versus the four-analyst average estimate of $216.82 million. The reported number represents a year-over-year change of +5.6%.
- Operating revenues- Wynn Macau: $301.59 million versus $233.13 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +414.8% change.
- Operating revenues- Wynn Palace: $468.35 million versus $371.83 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +698.5% change.
- Encore Boston Harbor- Operating revenues- Rooms: $22.52 million compared to the $23.27 million average estimate based on three analysts.
- Encore Boston Harbor- Operating revenues- Casino: $166.83 million versus $160.46 million estimated by three analysts on average.
- Las Vegas Operations- Operating revenues- Rooms: $177.77 million compared to the $188.52 million average estimate based on three analysts.
View all Key Company Metrics for Wynn here>>>Shares of Wynn have returned -4.8% over the past month versus the Zacks S&P 500 composite's +2.4% 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.