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Red Rock Resorts Q4 Earnings & Revenues Surpass Estimates
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Red Rock Resorts, Inc. (RRR - Free Report) reported fourth-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top line increased year over year, while the bottom line declined from the prior-year quarter’s figure.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
RRR’s Q4 Earnings & Revenues
In the quarter under review, adjusted earnings per share (EPS) came in at 76 cents, outpacing the Zacks Consensus Estimate of 42 cents. In the prior-year quarter, it recorded an adjusted EPS of 95 cents.
Red Rock Resorts, Inc. Price, Consensus and EPS Surprise
Quarterly revenues of $495.7 million surpassed the consensus mark of $490 million by 1.3%. The top line rose 7.1% on a year-over-year basis. Strong customer engagement and increased visitation at Durango Casino Resort contributed to revenue growth, with the property continuing to ramp up and attract new customers. Additionally, robust spending per visit across the company's gaming database, strong contributions from hotel and food and beverage segments, and disciplined cost management added to the positives.
Las Vegas Operations
During the fourth quarter of 2024, revenues from Las Vegas operations totaled $492.6 million, up 7.2% from $459.4 million reported in the prior-year quarter. Our projection was $485.1 million.
Adjusted EBITDA was $223.9 million, up 1.6% year over year. Our estimate for the metric was $201.3 million.
Operating Highlights
During the fourth quarter, selling, general and administrative expenses came in at $107.1 million, compared with $96.7 million reported in the prior-year quarter. Our model estimated the metric at $113 million.
Net income during the quarter came in at $87.7 million, compared with $108.9 million reported in the prior-year quarter. Our model estimated the metric at $58.3 million.
Adjusted EBITDA in the third quarter came in at $202.4 million compared with $201.3 million reported in the prior-year quarter. Our model estimated the metric at $182.7 million.
Other Financial Details
As of Dec. 31, 2024, RRR had cash and cash equivalents of $164.4 million compared with $117.5 million as of Sept. 30, 2024. Outstanding debt at the fourth-quarter end was $3.4 billion, compared with $3.5 billion reported in the previous quarter.
2024 Highlights
Total revenues in 2024 came in at $1.94 billion compared with $1.72 billion in 2023.
Net income in 2024 came in at $291.3 million compared with $337.8 million in 2023.
In 2024, diluted EPS came in at $2.53 compared with $2.94 reported in the previous year.
Royal Caribbean Cruises Ltd. (RCL - Free Report) posted mixed fourth-quarter 2024 results, with adjusted earnings beating the Zacks Consensus Estimate while revenues missed the same. Notably, the top and bottom lines increased on a year-over-year basis.
The company’s performance during the quarter was driven by stronger pricing on close-in demand and continued strength in onboard revenues. Its diversified fleet offerings, accompanied by its commercial and vacation experiences, are witnessing robust demand trends amid an improving global market backdrop. Thanks to these tailwinds, RCL could achieve its Trifecta goals before the schedule, pointing out the benefits it is realizing from the current improving scenario.
Adtalem Global Education Inc. (ATGE - Free Report) posted better-than-expected results in second-quarter fiscal 2025. Earnings and revenues surpassed the respective Zacks Consensus Estimate and increased year over year, driven by strong enrollment growth and strategic initiatives.
Adtalem's operational excellence strategy, Growth with Purpose, has driven six consecutive quarters of enrollment growth while supporting its mission to develop skilled healthcare professionals. Furthermore, strong demand at Chamberlain University and Walden University drove results. ATGE now expects fiscal 2025 adjusted earnings to be in the band of $6.10-$6.30 per share compared with the earlier prediction of $5.75-$5.95.
Las Vegas Sands Corp. (LVS - Free Report) reported fourth-quarter 2024 results, with earnings missing the Zacks Consensus Estimate and net revenues beating the same. The metrics declined on a year-over-year basis.
The company reported solid financial and operational performance at Marina Bay Sands, Singapore and continued recovery in the Macao market. LVS continues to execute its strategic objectives and remains optimistic about achieving industry-leading growth in both Macao and Singapore through its ongoing capital investment initiatives. It is optimistic about the introduction of new suite offerings, enhanced service levels and increased tourism spending in Asia.
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Red Rock Resorts Q4 Earnings & Revenues Surpass Estimates
Red Rock Resorts, Inc. (RRR - Free Report) reported fourth-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top line increased year over year, while the bottom line declined from the prior-year quarter’s figure.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
RRR’s Q4 Earnings & Revenues
In the quarter under review, adjusted earnings per share (EPS) came in at 76 cents, outpacing the Zacks Consensus Estimate of 42 cents. In the prior-year quarter, it recorded an adjusted EPS of 95 cents.
Red Rock Resorts, Inc. Price, Consensus and EPS Surprise
Red Rock Resorts, Inc. price-consensus-eps-surprise-chart | Red Rock Resorts, Inc. Quote
Quarterly revenues of $495.7 million surpassed the consensus mark of $490 million by 1.3%. The top line rose 7.1% on a year-over-year basis. Strong customer engagement and increased visitation at Durango Casino Resort contributed to revenue growth, with the property continuing to ramp up and attract new customers. Additionally, robust spending per visit across the company's gaming database, strong contributions from hotel and food and beverage segments, and disciplined cost management added to the positives.
Las Vegas Operations
During the fourth quarter of 2024, revenues from Las Vegas operations totaled $492.6 million, up 7.2% from $459.4 million reported in the prior-year quarter. Our projection was $485.1 million.
Adjusted EBITDA was $223.9 million, up 1.6% year over year. Our estimate for the metric was $201.3 million.
Operating Highlights
During the fourth quarter, selling, general and administrative expenses came in at $107.1 million, compared with $96.7 million reported in the prior-year quarter. Our model estimated the metric at $113 million.
Net income during the quarter came in at $87.7 million, compared with $108.9 million reported in the prior-year quarter. Our model estimated the metric at $58.3 million.
Adjusted EBITDA in the third quarter came in at $202.4 million compared with $201.3 million reported in the prior-year quarter. Our model estimated the metric at $182.7 million.
Other Financial Details
As of Dec. 31, 2024, RRR had cash and cash equivalents of $164.4 million compared with $117.5 million as of Sept. 30, 2024. Outstanding debt at the fourth-quarter end was $3.4 billion, compared with $3.5 billion reported in the previous quarter.
2024 Highlights
Total revenues in 2024 came in at $1.94 billion compared with $1.72 billion in 2023.
Net income in 2024 came in at $291.3 million compared with $337.8 million in 2023.
In 2024, diluted EPS came in at $2.53 compared with $2.94 reported in the previous year.
RRR’s Zacks Rank
Red Rock Resorts currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
Recent Consumer Discretionary Releases
Royal Caribbean Cruises Ltd. (RCL - Free Report) posted mixed fourth-quarter 2024 results, with adjusted earnings beating the Zacks Consensus Estimate while revenues missed the same. Notably, the top and bottom lines increased on a year-over-year basis.
The company’s performance during the quarter was driven by stronger pricing on close-in demand and continued strength in onboard revenues. Its diversified fleet offerings, accompanied by its commercial and vacation experiences, are witnessing robust demand trends amid an improving global market backdrop. Thanks to these tailwinds, RCL could achieve its Trifecta goals before the schedule, pointing out the benefits it is realizing from the current improving scenario.
Adtalem Global Education Inc. (ATGE - Free Report) posted better-than-expected results in second-quarter fiscal 2025. Earnings and revenues surpassed the respective Zacks Consensus Estimate and increased year over year, driven by strong enrollment growth and strategic initiatives.
Adtalem's operational excellence strategy, Growth with Purpose, has driven six consecutive quarters of enrollment growth while supporting its mission to develop skilled healthcare professionals. Furthermore, strong demand at Chamberlain University and Walden University drove results. ATGE now expects fiscal 2025 adjusted earnings to be in the band of $6.10-$6.30 per share compared with the earlier prediction of $5.75-$5.95.
Las Vegas Sands Corp. (LVS - Free Report) reported fourth-quarter 2024 results, with earnings missing the Zacks Consensus Estimate and net revenues beating the same. The metrics declined on a year-over-year basis.
The company reported solid financial and operational performance at Marina Bay Sands, Singapore and continued recovery in the Macao market. LVS continues to execute its strategic objectives and remains optimistic about achieving industry-leading growth in both Macao and Singapore through its ongoing capital investment initiatives. It is optimistic about the introduction of new suite offerings, enhanced service levels and increased tourism spending in Asia.