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WYNN posted Q1 adjusted EPS of $1.25 and revenues of $1.86B, beating estimates; both rose YoY.
WYNN Palace revenues jumped to $659.3M and EBITDAR to $203.8M on broad-based casino gains.
Las Vegas revenues rose to $661.9M with EBITDAR up, while Encore Boston Harbor and Wynn Macau EBITDAR fell.
Wynn Resorts, Limited (WYNN - Free Report) reported first-quarter 2026 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
Management noted the company’s strength across markets. Las Vegas delivered another quarter of EBITDAR growth and continued gains in gaming market share, while Macau saw a meaningful increase in gaming volumes year over year alongside healthy market share.
WYNN’s Q1 Earnings & Revenues
The company reported adjusted earnings per share (EPS) of $1.25, beating the Zacks Consensus Estimate of $1.18 by 5.9%. In the prior-year quarter, the company reported an adjusted EPS of $1.07.
Wynn Resorts, Limited Price, Consensus and EPS Surprise
On a reported basis, net income attributable to Wynn Resorts increased to $120.5 million in the first quarter compared with $72.7 million reported in the year-ago quarter. Our model projected the metric to be $57.5 million.
Operating income in the first quarter advanced to $282.6 million from $268.6 million, reported in the prior-year quarter. Our model projected the metric to be $241.7 million.
Adjusted Property EBITDAR totaled $562.4 million, up from $532.9 million a year ago, and the earnings presentation indicated a quarterly EBITDAR margin of 30.3%. Cost items also moved higher in several areas, including depreciation and amortization of $160.5 million and gaming taxes of $514.5 million, while interest expense (net of amounts capitalized) was $152.4 million.
Wynn Resorts Benefits From Wynn Palace Momentum
Wynn Palace generated operating revenues of $659.3 million in the first quarter, rising $123.4 million from the prior-year period. The year-over-year increase was primarily driven by stronger gaming performance, alongside improvement across non-gaming categories. Our model projected first-quarter Wynn Palace revenues to be $572.9 million.
Profitability strengthened in tandem with the revenue gains. Adjusted Property EBITDAR at Wynn Palace rose to $203.8 million from $161.9 million a year earlier. Mass-market table games’ win percentage increased to 26.6% from 24.8%, while the VIP win rate was 3.11%, within the property’s expected 3.1% to 3.4% range.
WYNN’s Wynn Macau Results Reflect Unfavorable Hold
Wynn Macau posted operating revenues of $329.9 million in the first quarter, essentially unchanged from $330.0 million in the year-ago quarter. Our model projected first-quarter Wynn Macau revenues to be $326 million. While revenue trends were stable, profitability was constrained by weaker win rates relative to the prior-year period.
Adjusted Property EBITDAR declined to $75.6 million from $90.2 million a year ago. Mass-market table games’ win percentage decreased to 15.1% from 18.7%, and VIP win as a percentage of turnover fell to 0.39%, below the property’s expected range of 3.1% to 3.4%.
Wynn Resorts Sustains Premium Positioning in Las Vegas
Las Vegas Operations delivered operating revenues of $661.9 million in the first quarter, up $36.6 million year over year. Management attributed the performance to continued market share gains and ongoing investment in the property’s amenity set and customer experience. Our model predicted the first-quarter segment revenues to be $662.4 million.
Adjusted Property EBITDAR for Las Vegas Operations increased to $232.5 million from $223.4 million a year ago. Operational metrics in the earnings presentation showed RevPAR of $506, up 9.8% year over year, while table games win percentage was 25.2%, within the property’s expected range and above the prior-year level of 24.3%.
WYNN Continues Capital Returns and Funds for UAE Development
WYNN declared a cash dividend of $0.25 per share, payable May 29, 2026. The company also repurchased 528,667 shares during the quarter for $53.8 million at an average price of $101.72 per share, and it ended the quarter with $401.1 million remaining under its repurchase authorization.
Liquidity and development funding remained in focus. Cash and cash equivalents totaled $1.19 billion at March 31, 2026, excluding $607.6 million of short-term investments held by Wynn Macau, Limited, while total current and long-term debt outstanding was $10.52 billion. During the quarter, the company contributed $100.1 million to the Wynn Al Marjan Island joint venture, bringing life-to-date cash contributions to $1.01 billion, with the project expected to open in 2027.
Royal Caribbean Cruises Ltd. (RCL - Free Report) reported first-quarter 2026 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis. In the quarter under review, the company reported adjusted EPS of $3.60, beating the Zacks Consensus Estimate of $3.20. In the year-ago quarter, RCL posted an adjusted EPS of $2.71. Revenues in the quarter totaled $4.45 billion, beating the consensus mark of $4.44 billion. The metric increased 11.3% year over year.
Hyatt Hotels Corporation (H - Free Report) reported first-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. The company reported first-quarter 2026 adjusted earnings of 63 cents per share, up 37% from 46 cents a year ago. The metric beat the Zacks Consensus Estimate of 57 cents per share by 10.5%. Total revenues rose 1.7% year over year to $1,748 million and topped the consensus mark of $1,712 million by 2.1%. Hyatt’s operating backdrop stayed constructive, with comparable system-wide hotels RevPAR increasing 5.4% and comparable system-wide all-inclusive resorts Net Package RevPAR rising 7.4% from the year-ago quarter.
Mattel, Inc. (MAT - Free Report) reported first-quarter 2026 results, with adjusted earnings and net sales beating the Zacks Consensus Estimate. Revenues improved, while the bottom line fell from the prior-year quarter levels. The company posted an adjusted loss of 20 cents per share, narrower than the Zacks Consensus Estimate of a loss of 24 cents by 16.67%. The bottom line declined from an adjusted loss of 2 cents reported in the prior-year quarter. Net sales of $862 million topped the consensus mark of $801 million by 7.59% and increased 4% year over year.
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Wynn Resorts Q1 Earnings & Revenues Beat Estimates, Rise Y/Y
Key Takeaways
Wynn Resorts, Limited (WYNN - Free Report) reported first-quarter 2026 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
Management noted the company’s strength across markets. Las Vegas delivered another quarter of EBITDAR growth and continued gains in gaming market share, while Macau saw a meaningful increase in gaming volumes year over year alongside healthy market share.
WYNN’s Q1 Earnings & Revenues
The company reported adjusted earnings per share (EPS) of $1.25, beating the Zacks Consensus Estimate of $1.18 by 5.9%. In the prior-year quarter, the company reported an adjusted EPS of $1.07.
Wynn Resorts, Limited Price, Consensus and EPS Surprise
Wynn Resorts, Limited price-consensus-eps-surprise-chart | Wynn Resorts, Limited Quote
Quarterly operating revenues of $1.86 billion topped the consensus mark of $1.81 billion by 2.2%. The top line increased by 9.2% year over year.
WYNN’s Q1 Profitability Improves Amid Elevated Expense Levels
On a reported basis, net income attributable to Wynn Resorts increased to $120.5 million in the first quarter compared with $72.7 million reported in the year-ago quarter. Our model projected the metric to be $57.5 million.
Operating income in the first quarter advanced to $282.6 million from $268.6 million, reported in the prior-year quarter. Our model projected the metric to be $241.7 million.
Adjusted Property EBITDAR totaled $562.4 million, up from $532.9 million a year ago, and the earnings presentation indicated a quarterly EBITDAR margin of 30.3%. Cost items also moved higher in several areas, including depreciation and amortization of $160.5 million and gaming taxes of $514.5 million, while interest expense (net of amounts capitalized) was $152.4 million.
Wynn Resorts Benefits From Wynn Palace Momentum
Wynn Palace generated operating revenues of $659.3 million in the first quarter, rising $123.4 million from the prior-year period. The year-over-year increase was primarily driven by stronger gaming performance, alongside improvement across non-gaming categories. Our model projected first-quarter Wynn Palace revenues to be $572.9 million.
Profitability strengthened in tandem with the revenue gains. Adjusted Property EBITDAR at Wynn Palace rose to $203.8 million from $161.9 million a year earlier. Mass-market table games’ win percentage increased to 26.6% from 24.8%, while the VIP win rate was 3.11%, within the property’s expected 3.1% to 3.4% range.
WYNN’s Wynn Macau Results Reflect Unfavorable Hold
Wynn Macau posted operating revenues of $329.9 million in the first quarter, essentially unchanged from $330.0 million in the year-ago quarter. Our model projected first-quarter Wynn Macau revenues to be $326 million. While revenue trends were stable, profitability was constrained by weaker win rates relative to the prior-year period.
Adjusted Property EBITDAR declined to $75.6 million from $90.2 million a year ago. Mass-market table games’ win percentage decreased to 15.1% from 18.7%, and VIP win as a percentage of turnover fell to 0.39%, below the property’s expected range of 3.1% to 3.4%.
Wynn Resorts Sustains Premium Positioning in Las Vegas
Las Vegas Operations delivered operating revenues of $661.9 million in the first quarter, up $36.6 million year over year. Management attributed the performance to continued market share gains and ongoing investment in the property’s amenity set and customer experience. Our model predicted the first-quarter segment revenues to be $662.4 million.
Adjusted Property EBITDAR for Las Vegas Operations increased to $232.5 million from $223.4 million a year ago. Operational metrics in the earnings presentation showed RevPAR of $506, up 9.8% year over year, while table games win percentage was 25.2%, within the property’s expected range and above the prior-year level of 24.3%.
WYNN Continues Capital Returns and Funds for UAE Development
WYNN declared a cash dividend of $0.25 per share, payable May 29, 2026. The company also repurchased 528,667 shares during the quarter for $53.8 million at an average price of $101.72 per share, and it ended the quarter with $401.1 million remaining under its repurchase authorization.
Liquidity and development funding remained in focus. Cash and cash equivalents totaled $1.19 billion at March 31, 2026, excluding $607.6 million of short-term investments held by Wynn Macau, Limited, while total current and long-term debt outstanding was $10.52 billion. During the quarter, the company contributed $100.1 million to the Wynn Al Marjan Island joint venture, bringing life-to-date cash contributions to $1.01 billion, with the project expected to open in 2027.
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
Royal Caribbean Cruises Ltd. (RCL - Free Report) reported first-quarter 2026 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis. In the quarter under review, the company reported adjusted EPS of $3.60, beating the Zacks Consensus Estimate of $3.20. In the year-ago quarter, RCL posted an adjusted EPS of $2.71. Revenues in the quarter totaled $4.45 billion, beating the consensus mark of $4.44 billion. The metric increased 11.3% year over year.
Hyatt Hotels Corporation (H - Free Report) reported first-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. The company reported first-quarter 2026 adjusted earnings of 63 cents per share, up 37% from 46 cents a year ago. The metric beat the Zacks Consensus Estimate of 57 cents per share by 10.5%. Total revenues rose 1.7% year over year to $1,748 million and topped the consensus mark of $1,712 million by 2.1%. Hyatt’s operating backdrop stayed constructive, with comparable system-wide hotels RevPAR increasing 5.4% and comparable system-wide all-inclusive resorts Net Package RevPAR rising 7.4% from the year-ago quarter.
Mattel, Inc. (MAT - Free Report) reported first-quarter 2026 results, with adjusted earnings and net sales beating the Zacks Consensus Estimate. Revenues improved, while the bottom line fell from the prior-year quarter levels. The company posted an adjusted loss of 20 cents per share, narrower than the Zacks Consensus Estimate of a loss of 24 cents by 16.67%. The bottom line declined from an adjusted loss of 2 cents reported in the prior-year quarter. Net sales of $862 million topped the consensus mark of $801 million by 7.59% and increased 4% year over year.