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Red Rock Resorts (RRR) Reports Q1 Earnings: What Key Metrics Have to Say
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Red Rock Resorts (RRR - Free Report) reported $488.9 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 12.7%. EPS of $0.68 for the same period compares to $0.75 a year ago.
The reported revenue represents a surprise of -0.05% over the Zacks Consensus Estimate of $489.12 million. With the consensus EPS estimate being $0.50, the EPS surprise was +36.00%.
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 Red Rock Resorts performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Operating Revenues- Casino: $316.85 million versus the four-analyst average estimate of $319.75 million. The reported number represents a year-over-year change of +9.9%.
Net Revenue- Las Vegas operations: $485.57 million versus $470.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.9% change.
Operating Revenues- Food and Beverage: $93.28 million versus the four-analyst average estimate of $84.36 million. The reported number represents a year-over-year change of +19.4%.
Operating Revenues- Other: $25.88 million versus the four-analyst average estimate of $21.79 million. The reported number represents a year-over-year change of +12.2%.
Operating Revenues- Room: $52.89 million versus the four-analyst average estimate of $48.64 million. The reported number represents a year-over-year change of +20.4%.
Net Revenue- Corporate and other: $3.33 million compared to the $3.65 million average estimate based on two analysts. The reported number represents a change of -7.2% year over year.
Adjusted EBITDA- Las Vegas Operations: $229.76 million compared to the $229.51 million average estimate based on six analysts.
Adjusted EBITDA- Corporate and other: -$20.62 million compared to the -$19.67 million average estimate based on six analysts.
Shares of Red Rock Resorts have returned -11.8% over the past month versus the Zacks S&P 500 composite's -0.4% 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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Red Rock Resorts (RRR) Reports Q1 Earnings: What Key Metrics Have to Say
Red Rock Resorts (RRR - Free Report) reported $488.9 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 12.7%. EPS of $0.68 for the same period compares to $0.75 a year ago.
The reported revenue represents a surprise of -0.05% over the Zacks Consensus Estimate of $489.12 million. With the consensus EPS estimate being $0.50, the EPS surprise was +36.00%.
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 Red Rock Resorts performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Operating Revenues- Casino: $316.85 million versus the four-analyst average estimate of $319.75 million. The reported number represents a year-over-year change of +9.9%.
- Net Revenue- Las Vegas operations: $485.57 million versus $470.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.9% change.
- Operating Revenues- Food and Beverage: $93.28 million versus the four-analyst average estimate of $84.36 million. The reported number represents a year-over-year change of +19.4%.
- Operating Revenues- Other: $25.88 million versus the four-analyst average estimate of $21.79 million. The reported number represents a year-over-year change of +12.2%.
- Operating Revenues- Room: $52.89 million versus the four-analyst average estimate of $48.64 million. The reported number represents a year-over-year change of +20.4%.
- Net Revenue- Corporate and other: $3.33 million compared to the $3.65 million average estimate based on two analysts. The reported number represents a change of -7.2% year over year.
- Adjusted EBITDA- Las Vegas Operations: $229.76 million compared to the $229.51 million average estimate based on six analysts.
- Adjusted EBITDA- Corporate and other: -$20.62 million compared to the -$19.67 million average estimate based on six analysts.
View all Key Company Metrics for Red Rock Resorts here>>>Shares of Red Rock Resorts have returned -11.8% over the past month versus the Zacks S&P 500 composite's -0.4% 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.