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Caesars Entertainment (CZR) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2024, Caesars Entertainment (CZR - Free Report) reported revenue of $2.87 billion, down 4% over the same period last year. EPS came in at -$0.04, compared to $0.34 in the year-ago quarter.
The reported revenue represents a surprise of -1.30% over the Zacks Consensus Estimate of $2.91 billion. With the consensus EPS estimate being $0.21, the EPS surprise was -119.05%.
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.
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:
Net Revenues- Las Vegas: $1.06 billion versus $1.10 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -5.2% change.
Net Revenues- Regional: $1.45 billion compared to the $1.49 billion average estimate based on six analysts. The reported number represents a change of -7.6% year over year.
Net Revenues- Caesars Digital: $303 million versus $274.25 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +40.9% change.
Net Revenues- Managed and Branded: $68 million versus the six-analyst average estimate of $73.50 million. The reported number represents a year-over-year change of -30.6%.
Net Revenues- Corporate and Other: -$5 million versus the five-analyst average estimate of -$0.62 million. The reported number represents a year-over-year change of +25%.
Adjusted EBITDA- Las Vegas: $472 million compared to the $475.77 million average estimate based on six analysts.
Adjusted EBITDA- Regional: $498 million compared to the $512.73 million average estimate based on six analysts.
Adjusted EBITDA- Corporate and Other: -$40 million compared to the -$41.87 million average estimate based on six analysts.
Adjusted EBITDA- Caesars Digital: $52 million versus the six-analyst average estimate of $34.01 million.
Adjusted EBITDA- Managed and Branded: $19 million compared to the $18.47 million average estimate based on six analysts.
Shares of Caesars Entertainment have returned +9.1% over the past month versus the Zacks S&P 500 composite's +1.7% 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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Caesars Entertainment (CZR) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2024, Caesars Entertainment (CZR - Free Report) reported revenue of $2.87 billion, down 4% over the same period last year. EPS came in at -$0.04, compared to $0.34 in the year-ago quarter.
The reported revenue represents a surprise of -1.30% over the Zacks Consensus Estimate of $2.91 billion. With the consensus EPS estimate being $0.21, the EPS surprise was -119.05%.
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.
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:
- Net Revenues- Las Vegas: $1.06 billion versus $1.10 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -5.2% change.
- Net Revenues- Regional: $1.45 billion compared to the $1.49 billion average estimate based on six analysts. The reported number represents a change of -7.6% year over year.
- Net Revenues- Caesars Digital: $303 million versus $274.25 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +40.9% change.
- Net Revenues- Managed and Branded: $68 million versus the six-analyst average estimate of $73.50 million. The reported number represents a year-over-year change of -30.6%.
- Net Revenues- Corporate and Other: -$5 million versus the five-analyst average estimate of -$0.62 million. The reported number represents a year-over-year change of +25%.
- Adjusted EBITDA- Las Vegas: $472 million compared to the $475.77 million average estimate based on six analysts.
- Adjusted EBITDA- Regional: $498 million compared to the $512.73 million average estimate based on six analysts.
- Adjusted EBITDA- Corporate and Other: -$40 million compared to the -$41.87 million average estimate based on six analysts.
- Adjusted EBITDA- Caesars Digital: $52 million versus the six-analyst average estimate of $34.01 million.
- Adjusted EBITDA- Managed and Branded: $19 million compared to the $18.47 million average estimate based on six analysts.
View all Key Company Metrics for Caesars Entertainment here>>>Shares of Caesars Entertainment have returned +9.1% over the past month versus the Zacks S&P 500 composite's +1.7% 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.