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Compared to Estimates, Caesars Entertainment (CZR) Q3 Earnings: A Look at Key Metrics
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Caesars Entertainment (CZR - Free Report) reported $2.99 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 3.7%. EPS of $0.34 for the same period compares to $0.24 a year ago.
The reported revenue represents a surprise of +2.79% over the Zacks Consensus Estimate of $2.91 billion. With the consensus EPS estimate being $0.27, the EPS surprise was +25.93%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 96.6% versus the two-analyst average estimate of 95.8%.
Las Vegas - Table game drop: $840 million versus the two-analyst average estimate of $896.07 million.
Caesars Digital - iGaming handle: $2.47 billion versus the two-analyst average estimate of $2.38 billion.
Las Vegas - Slot handle: $2.72 billion versus $2.68 billion estimated by two analysts on average.
Net Revenues- Caesars Digital: $215 million versus the six-analyst average estimate of $224.84 million. The reported number represents a year-over-year change of +1.4%.
Net Revenues- Regional: $1.57 billion versus $1.52 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +2.3% change.
Net Revenues- Las Vegas: $1.12 billion versus the six-analyst average estimate of $1.10 billion. The reported number represents a year-over-year change of +4%.
Net Revenues- Managed and Branded: $45 million versus $73.23 million estimated by six analysts on average.
Net Revenues- Corporate and Other: -$4 million versus the five-analyst average estimate of $2.21 million. The reported number represents a year-over-year change of +100%.
Net Revenues- Other: $378 million versus $330.12 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +15.6% change.
Net Revenues- Hotel: $553 million compared to the $525.58 million average estimate based on two analysts. The reported number represents a change of +1.7% year over year.
Net Revenues- Casino: $1.62 billion versus the two-analyst average estimate of $1.63 billion. The reported number represents a year-over-year change of +0.9%.
Shares of Caesars Entertainment have returned -14.5% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, Caesars Entertainment (CZR) Q3 Earnings: A Look at Key Metrics
Caesars Entertainment (CZR - Free Report) reported $2.99 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 3.7%. EPS of $0.34 for the same period compares to $0.24 a year ago.
The reported revenue represents a surprise of +2.79% over the Zacks Consensus Estimate of $2.91 billion. With the consensus EPS estimate being $0.27, the EPS surprise was +25.93%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 96.6% versus the two-analyst average estimate of 95.8%.
- Las Vegas - Table game drop: $840 million versus the two-analyst average estimate of $896.07 million.
- Caesars Digital - iGaming handle: $2.47 billion versus the two-analyst average estimate of $2.38 billion.
- Las Vegas - Slot handle: $2.72 billion versus $2.68 billion estimated by two analysts on average.
- Net Revenues- Caesars Digital: $215 million versus the six-analyst average estimate of $224.84 million. The reported number represents a year-over-year change of +1.4%.
- Net Revenues- Regional: $1.57 billion versus $1.52 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +2.3% change.
- Net Revenues- Las Vegas: $1.12 billion versus the six-analyst average estimate of $1.10 billion. The reported number represents a year-over-year change of +4%.
- Net Revenues- Managed and Branded: $45 million versus $73.23 million estimated by six analysts on average.
- Net Revenues- Corporate and Other: -$4 million versus the five-analyst average estimate of $2.21 million. The reported number represents a year-over-year change of +100%.
- Net Revenues- Other: $378 million versus $330.12 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +15.6% change.
- Net Revenues- Hotel: $553 million compared to the $525.58 million average estimate based on two analysts. The reported number represents a change of +1.7% year over year.
- Net Revenues- Casino: $1.62 billion versus the two-analyst average estimate of $1.63 billion. The reported number represents a year-over-year change of +0.9%.
View all Key Company Metrics for Caesars Entertainment here>>>Shares of Caesars Entertainment have returned -14.5% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.