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Wynn Resorts (WYNN) to Post Q4 Earnings: What's in The Cards?
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Wynn Resorts, Limited (WYNN - Free Report) is scheduled to report fourth-quarter 2023 results on Feb 7, 2024, after the closing bell. In the previous quarter, the company delivered an earnings surprise of 25.3%.
How are Estimates Placed?
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share has increased to $1.12 from $1.07 in the past seven days. WYNN reported a loss per share of $1.23 in the prior-year quarter.
For revenues, the consensus mark is pegged at nearly $1,707 million. The metric suggests an improvement of 69.8% from the year-ago quarter’s figure.
Let’s discuss the factors that are likely to be reflected in the quarter to be reported.
Factors to Note
Wynn Resorts’ fourth-quarter performance is likely to have benefited from sports-betting expansion, non-gaming revenue-boosting strategies and solid Macau performance. Strength in mass casino drop, direct VIP turnover, luxury retail sales and hotel revenues are likely to have aided the company’s performance in the to-be-reported quarter.
Increased visitation and demand 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 Macau operations are likely to rise 348.3% year over year to $852.9 million. We expect revenues from Las Vegas operations to rise 0.2% year over year to $586.4 million.
Substantial contributions from Encore Boston Harbor might have aided the company’s fourth-quarter top line. The emphasis on development projects (including incremental parking, food and beverage and entertainment amenities) and strategic marketing campaigns are likely to have paved a path for new customer acquisition in the to-be-reported quarter. We expect revenues from Encore Boston Harbor to rise 5.3% year over year to $229.8 million in the fourth quarter.
However, an increase in operating expenses is likely to have hurt the bottom line in the to-be-reported quarter. Our model predicts total operating expenses in the fourth quarter to increase 74.2% year over year to $1,577.9 million.
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 +10.50%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
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 +15.51% and a Zacks Rank #3.
Shares of MGM Resorts have increased 8.8% in the past year. MGM’s earnings beat estimates in each of the trailing four quarters, the average surprise being 292.7%.
Boyd Gaming Corporation (BYD - Free Report) has an Earnings ESP of +0.69% and a Zacks Rank #3.
Shares of Boyd Gaming have declined 1.3% in the past year. BYD’s earnings beat estimates in three of the trailing four quarters and missed once, the average surprise being 6.9%.
Academy Sports and Outdoors, Inc. (ASO - Free Report) has an Earnings ESP of +1.41% and a Zacks Rank #3.
Shares of Academy Sports have increased 5.3% in the past year. ASO’s earnings beat estimates in two of the trailing four quarters and missed twice, the negative surprise being 4.7%, on average.
Image: Bigstock
Wynn Resorts (WYNN) to Post Q4 Earnings: What's in The Cards?
Wynn Resorts, Limited (WYNN - Free Report) is scheduled to report fourth-quarter 2023 results on Feb 7, 2024, after the closing bell. In the previous quarter, the company delivered an earnings surprise of 25.3%.
How are Estimates Placed?
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share has increased to $1.12 from $1.07 in the past seven days. WYNN reported a loss per share of $1.23 in the prior-year quarter.
For revenues, the consensus mark is pegged at nearly $1,707 million. The metric suggests an improvement of 69.8% from the year-ago quarter’s figure.
Wynn Resorts, Limited Price and EPS Surprise
Wynn Resorts, Limited price-eps-surprise | Wynn Resorts, Limited Quote
Let’s discuss the factors that are likely to be reflected in the quarter to be reported.
Factors to Note
Wynn Resorts’ fourth-quarter performance is likely to have benefited from sports-betting expansion, non-gaming revenue-boosting strategies and solid Macau performance. Strength in mass casino drop, direct VIP turnover, luxury retail sales and hotel revenues are likely to have aided the company’s performance in the to-be-reported quarter.
Increased visitation and demand 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 Macau operations are likely to rise 348.3% year over year to $852.9 million. We expect revenues from Las Vegas operations to rise 0.2% year over year to $586.4 million.
Substantial contributions from Encore Boston Harbor might have aided the company’s fourth-quarter top line. The emphasis on development projects (including incremental parking, food and beverage and entertainment amenities) and strategic marketing campaigns are likely to have paved a path for new customer acquisition in the to-be-reported quarter. We expect revenues from Encore Boston Harbor to rise 5.3% year over year to $229.8 million in the fourth quarter.
However, an increase in operating expenses is likely to have hurt the bottom line in the to-be-reported quarter. Our model predicts total operating expenses in the fourth quarter to increase 74.2% year over year to $1,577.9 million.
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 +10.50%. 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 +15.51% and a Zacks Rank #3.
Shares of MGM Resorts have increased 8.8% in the past year. MGM’s earnings beat estimates in each of the trailing four quarters, the average surprise being 292.7%.
Boyd Gaming Corporation (BYD - Free Report) has an Earnings ESP of +0.69% and a Zacks Rank #3.
Shares of Boyd Gaming have declined 1.3% in the past year. BYD’s earnings beat estimates in three of the trailing four quarters and missed once, the average surprise being 6.9%.
Academy Sports and Outdoors, Inc. (ASO - Free Report) has an Earnings ESP of +1.41% and a Zacks Rank #3.
Shares of Academy Sports have increased 5.3% in the past year. ASO’s earnings beat estimates in two of the trailing four quarters and missed twice, the negative surprise being 4.7%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.