Although the revenue and EPS for Red Rock Resorts (RRR) give a sense of how its business performed in the quarter ended December 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
For the quarter ended December 2023, Red Rock Resorts (RRR) reported revenue of $462.71 million, up 8.8% over the same period last year. EPS came in at $0.95, compared to $1.00 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $440.42 million, representing a surprise of +5.06%. The company delivered an EPS surprise of +137.50%, with the consensus EPS estimate being $0.40.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 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: $301.66 million versus the four-analyst average estimate of $287.19 million. The reported number represents a year-over-year change of +6.5%.
- Net Revenue- Las Vegas operations: $459.37 million compared to the $439.10 million average estimate based on four analysts. The reported number represents a change of +9.5% year over year.
- Operating Revenues- Food and Beverage: $85.07 million versus $78.53 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.3% change.
- Operating Revenues- Other: $23.54 million versus the four-analyst average estimate of $23.57 million. The reported number represents a year-over-year change of +9%.
- Operating Revenues- Room: $52.24 million compared to the $44.19 million average estimate based on four analysts. The reported number represents a change of +17.7% year over year.
- Net Revenue- Corporate and other: $3.35 million versus the two-analyst average estimate of $3.64 million. The reported number represents a year-over-year change of -7.4%.
- Adjusted EBITDA- Corporate and other: -$18.97 million compared to the -$18.21 million average estimate based on six analysts.
- Adjusted EBITDA- Las Vegas Operations: $220.27 million compared to the $202.68 million average estimate based on six analysts.
View all Key Company Metrics for Red Rock Resorts here>>>
Shares of Red Rock Resorts have returned +9.1% over the past month versus the Zacks S&P 500 composite's +5.6% 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.
*Zacks Names "Single Best Pick to Double"
*From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
*It’s credited with a "watershed medical breakthrough" and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
*It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Red Rock Resorts, Inc. (RRR): Free Stock Analysis ReportTo read this article on Zacks.com click here.
Zacks Investment Research
credit=zacks