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Wynn Resorts Q4 Earnings Miss Estimates, Revenues Up Y/Y
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Key Takeaways
Wynn Resorts posted adjusted EPS of $1.17, missing estimates, while revenues increased 1.5% year over year.
Macau operations gained from higher VIP turnover and mass table drop, lifting property performance.
Las Vegas saw solid casino volumes and better room rates, though margins narrowed across the portfolio.
Wynn Resorts, Limited (WYNN - Free Report) reported mixed fourth-quarter 2025 results, with earnings missing the Zacks Consensus Estimate but revenues beating the same. The top line increased year over year, while the bottom line fell.
Wynn Resorts reported steady performance in the fourth quarter, supported by strength across key markets and progress on global projects. Las Vegas posted another quarter of EBITDA growth, helped by higher average daily rates and solid casino volumes. Macau recorded strong gains, with increases in both VIP turnover and mass table drop on a year-over-year and sequential basis. The company also advanced development efforts, reaching a major construction milestone at Wynn Al Marjan Island, with the tower topped out and the project on track for a first-quarter 2027 opening.
Wynn Resorts’ Q4 Earnings & Revenues
The company reported adjusted earnings per share (EPS) of $1.17, missing the Zacks Consensus Estimate of $1.33. In the prior-year quarter, the company reported an adjusted EPS of $2.42.
Wynn Resorts, Limited Price, Consensus and EPS Surprise
Quarterly operating revenues of $1.87 billion topped the consensus mark by 0.7%. The top line inched up 1.5% on a year-over-year basis.
Wynn Palace Operations
During the fourth quarter, Wynn Palace’s operating revenues came in at $596.4 million, up 5.9% year over year. Adjusted property EBITDAR decreased 11.4% to $163.5 million.
Casino revenues were $501.5 million, up 9.3% from last year, while room revenues fell 25.3% to $37.1 million. Food and beverage revenues increased 4.8% to $33.5 million. Entertainment, retail and other revenues increased 8% year over year to $24.3 million. RevPAR declined 25.4% year over year to $217, with ADR also down 26% to $219.
Wynn Macau Operations
Wynn Macau’s operating revenues amounted to $371.3 million, up 2.1% year over year. Adjusted property EBITDAR was $107.4 million, down 0.7% year over year from $108.2 million.
Casino revenues rose 1.7% year over year to $311.6 million, while room revenues fell 13.3% to $21.3 million. Revenues from food and beverage fell 10.7% to $18.1 million. Entertainment, retail and other revenues increased 64.4% year over year to $20.4 million. RevPAR declined 9.7% to $215, with ADR down 10% to $216.
Las Vegas Operations
Operating revenues from Las Vegas operations were $688.1 million, down 1.6% year over year. Adjusted property EBITDAR decreased 10% to $240.8 million.
Casino revenues decreased 6.2% year over year to $178.3 million. Room revenues fell 2.5% to $222.9 million, while food and beverage revenues rose 3.8% to $191.7 million. Entertainment, retail and other revenues decreased 1% year over year to $95.2 million. RevPAR decreased 1.3% to $520, with ADR rising 2.2% to $611.
Encore Boston Harbor
Operating revenues from Encore Boston Harbor were $210.2 million, down 1.2% year over year. Adjusted property EBITDAR fell 3.1% to $57 million.
Casino revenues fell 3.1% to $152 million. Food and beverage revenues increased 1.9% year over year to $21.6 million and room revenues increased 5.4% to $23.8 million. Entertainment, retail and other revenues increased 5.9% year over year to $12.7 million. RevPAR increased 2.4% year over year to $388, with ADR up 1% to $420.
Operating Performance of Wynn Resorts
In the fourth quarter, adjusted property EBITDAR totaled $568.8 million, down from $619.1 million in the prior-year quarter. EBITDAR margin contracted to 30.5% from 33.7% in the prior-year quarter.
Cash Position of WYNN
As of Dec. 31, 2025, Wynn Resorts’ cash and cash equivalents totaled $1.46 billion compared with $1.49 billion in the prior quarter.
Total current and long-term outstanding debt at the end of the fourth quarter amounted to $10.55 billion, including $5.79 billion of Macau-related debt, $876.6 million of Wynn Las Vegas debt, $3.28 billion of Wynn Resorts Finance debt and $598.4 million of retail joint venture debt.
Hilton Worldwide Holdings Inc. (HLT - Free Report) reported fourth-quarter 2025 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
Hilton’s fourth-quarter 2025 results were supported by steady demand trends, year-over-year RevPAR growth and continued expansion of its global footprint. The company added new hotels during the quarter and delivered strong net unit growth while maintaining a robust development pipeline that provides solid long-term visibility. Continued expansion of its luxury and lifestyle portfolio, along with new brand launches such as the Apartment Collection by Hilton, also contributed positively to overall performance.
Marriott International, Inc. (MAR - Free Report) reported fourth-quarter 2025 results, with adjusted earnings missing the Zacks Consensus Estimate and revenues beating the same. The top and bottom lines increased on a year-over-year basis.
Marriott delivered steady performance, supported by resilient rooms’ growth, pricing strength and continued development momentum. Global RevPAR posted modest growth, led by stronger international markets, while luxury properties continued to outperform on the back of healthy demand and favorable rates. Despite relatively stable performance in the United States & Canada, Marriott maintained a premium RevPAR compared with peers, reflecting the strength of its diversified brand portfolio and asset-light business model.
Hasbro, Inc. (HAS - Free Report) reported fourth-quarter fiscal 2025 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased year over year.
Hasbro’s management highlighted a strong 2025, with it returning to growth on the back of disciplined execution and the “Playing to Win” strategy. Leadership emphasized broader fan engagement, new partnerships and meaningful progress toward becoming a more digital and IP-focused business, setting a confident tone for Hasbro for 2026.
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Wynn Resorts Q4 Earnings Miss Estimates, Revenues Up Y/Y
Key Takeaways
Wynn Resorts, Limited (WYNN - Free Report) reported mixed fourth-quarter 2025 results, with earnings missing the Zacks Consensus Estimate but revenues beating the same. The top line increased year over year, while the bottom line fell.
Wynn Resorts reported steady performance in the fourth quarter, supported by strength across key markets and progress on global projects. Las Vegas posted another quarter of EBITDA growth, helped by higher average daily rates and solid casino volumes. Macau recorded strong gains, with increases in both VIP turnover and mass table drop on a year-over-year and sequential basis. The company also advanced development efforts, reaching a major construction milestone at Wynn Al Marjan Island, with the tower topped out and the project on track for a first-quarter 2027 opening.
Wynn Resorts’ Q4 Earnings & Revenues
The company reported adjusted earnings per share (EPS) of $1.17, missing the Zacks Consensus Estimate of $1.33. In the prior-year quarter, the company reported an adjusted EPS of $2.42.
Wynn Resorts, Limited Price, Consensus and EPS Surprise
Wynn Resorts, Limited price-consensus-eps-surprise-chart | Wynn Resorts, Limited Quote
Quarterly operating revenues of $1.87 billion topped the consensus mark by 0.7%. The top line inched up 1.5% on a year-over-year basis.
Wynn Palace Operations
During the fourth quarter, Wynn Palace’s operating revenues came in at $596.4 million, up 5.9% year over year. Adjusted property EBITDAR decreased 11.4% to $163.5 million.
Casino revenues were $501.5 million, up 9.3% from last year, while room revenues fell 25.3% to $37.1 million. Food and beverage revenues increased 4.8% to $33.5 million. Entertainment, retail and other revenues increased 8% year over year to $24.3 million. RevPAR declined 25.4% year over year to $217, with ADR also down 26% to $219.
Wynn Macau Operations
Wynn Macau’s operating revenues amounted to $371.3 million, up 2.1% year over year. Adjusted property EBITDAR was $107.4 million, down 0.7% year over year from $108.2 million.
Casino revenues rose 1.7% year over year to $311.6 million, while room revenues fell 13.3% to $21.3 million. Revenues from food and beverage fell 10.7% to $18.1 million. Entertainment, retail and other revenues increased 64.4% year over year to $20.4 million. RevPAR declined 9.7% to $215, with ADR down 10% to $216.
Las Vegas Operations
Operating revenues from Las Vegas operations were $688.1 million, down 1.6% year over year. Adjusted property EBITDAR decreased 10% to $240.8 million.
Casino revenues decreased 6.2% year over year to $178.3 million. Room revenues fell 2.5% to $222.9 million, while food and beverage revenues rose 3.8% to $191.7 million. Entertainment, retail and other revenues decreased 1% year over year to $95.2 million. RevPAR decreased 1.3% to $520, with ADR rising 2.2% to $611.
Encore Boston Harbor
Operating revenues from Encore Boston Harbor were $210.2 million, down 1.2% year over year. Adjusted property EBITDAR fell 3.1% to $57 million.
Casino revenues fell 3.1% to $152 million. Food and beverage revenues increased 1.9% year over year to $21.6 million and room revenues increased 5.4% to $23.8 million. Entertainment, retail and other revenues increased 5.9% year over year to $12.7 million. RevPAR increased 2.4% year over year to $388, with ADR up 1% to $420.
Operating Performance of Wynn Resorts
In the fourth quarter, adjusted property EBITDAR totaled $568.8 million, down from $619.1 million in the prior-year quarter. EBITDAR margin contracted to 30.5% from 33.7% in the prior-year quarter.
Cash Position of WYNN
As of Dec. 31, 2025, Wynn Resorts’ cash and cash equivalents totaled $1.46 billion compared with $1.49 billion in the prior quarter.
Total current and long-term outstanding debt at the end of the fourth quarter amounted to $10.55 billion, including $5.79 billion of Macau-related debt, $876.6 million of Wynn Las Vegas debt, $3.28 billion of Wynn Resorts Finance debt and $598.4 million of retail joint venture debt.
WYNN’s Zacks Rank
Wynn Resorts currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Consumer Discretionary Releases
Hilton Worldwide Holdings Inc. (HLT - Free Report) reported fourth-quarter 2025 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
Hilton’s fourth-quarter 2025 results were supported by steady demand trends, year-over-year RevPAR growth and continued expansion of its global footprint. The company added new hotels during the quarter and delivered strong net unit growth while maintaining a robust development pipeline that provides solid long-term visibility. Continued expansion of its luxury and lifestyle portfolio, along with new brand launches such as the Apartment Collection by Hilton, also contributed positively to overall performance.
Marriott International, Inc. (MAR - Free Report) reported fourth-quarter 2025 results, with adjusted earnings missing the Zacks Consensus Estimate and revenues beating the same. The top and bottom lines increased on a year-over-year basis.
Marriott delivered steady performance, supported by resilient rooms’ growth, pricing strength and continued development momentum. Global RevPAR posted modest growth, led by stronger international markets, while luxury properties continued to outperform on the back of healthy demand and favorable rates. Despite relatively stable performance in the United States & Canada, Marriott maintained a premium RevPAR compared with peers, reflecting the strength of its diversified brand portfolio and asset-light business model.
Hasbro, Inc. (HAS - Free Report) reported fourth-quarter fiscal 2025 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased year over year.
Hasbro’s management highlighted a strong 2025, with it returning to growth on the back of disciplined execution and the “Playing to Win” strategy. Leadership emphasized broader fan engagement, new partnerships and meaningful progress toward becoming a more digital and IP-focused business, setting a confident tone for Hasbro for 2026.