Q4 23 EPS
$0.95
BEAT +86.27%
Est. $0.51
Q4 23 Revenue
$462.7M
BEAT +5.25%
Est. $439.6M
vs S&P Since Q4 23
-28.6%
TRAILING MARKET
RRR +22.9% vs S&P +51.5%
Full Year 2023 Results
FY 23 EPS
$2.94
FY 23 Revenue
$1.72B
Market Reaction
Did RRR Beat Earnings? Q4 2023 Results
Red Rock Resorts delivered a sharply stronger-than-expected fourth quarter, with earnings per share of $0.95 clearing the $0.51 consensus estimate by 86.27% and revenue of $462.71 million topping analyst forecasts by 5.25% on 8.8% year-over-year grow… Read more Red Rock Resorts delivered a sharply stronger-than-expected fourth quarter, with earnings per share of $0.95 clearing the $0.51 consensus estimate by 86.27% and revenue of $462.71 million topping analyst forecasts by 5.25% on 8.8% year-over-year growth. The standout driver behind the top-line surge was the newly opened Durango Resort & Casino, which powered Las Vegas operations to $459.37 million in revenue, up 9.5% from the prior year period, with casino revenues alone reaching $301.56 million. Net income, however, fell 36.0% to $108.92 million, largely because Q4 2022 had included a $63.75 million favorable write-down gain that did not repeat, and because interest expense climbed to $48.73 million from $40.18 million, reflecting the debt load taken on to fund the Durango development. Adjusted EBITDA rose a more modest 3.6% to $201.30 million. The Board signaled confidence in the company's cash generation by declaring both a regular quarterly dividend of $0.25 per Class A share and a special dividend of $1.00 per share.
Key Takeaways
- • Opening of Durango Resort & Casino driving Las Vegas operations revenue growth
- • Broad-based revenue growth across casino, food and beverage, and room categories
- • Las Vegas operations Adjusted EBITDA increased 6.5% year-over-year to $220.3 million
RRR YoY Financials
Q4 2023 vs Q4 2022, source: SEC Filings
RRR Revenue by Segment
With YoY comparisons, source: SEC Filings
RRR Earnings Trends
RRR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RRR EPS Trend
Earnings per share: estimate vs actual
RRR Revenue Trend
Quarterly revenue: estimate vs actual
RRR Quarterly Results
12 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.49 | $0.73 | +49.65% | $507.3M | +0.21% |
| Q4 25 BEAT FY | $0.45 | $0.75 | +67.71% | $511.8M | +1.48% |
| FY Full Year | — | $3.12 | — | $2.01B | — |
| Q3 25 BEAT | $0.39 | $0.68 | +76.44% | $475.6M | -0.58% |
| Q2 25 BEAT | $0.41 | $0.95 | +131.14% | $526.3M | +7.83% |
| Q1 25 BEAT | $0.49 | $0.75 | +54.38% | $497.9M | +0.38% |
| Q4 24 BEAT FY | $0.48 | $0.76 | +58.73% | $495.7M | +1.12% |
| FY Full Year | $1.49 | $2.53 | +69.56% | $1.94B | +0.27% |
| Q3 24 MISS | $0.52 | $0.48 | -7.69% | $468.0M | +1.37% |
| Q2 24 MISS | $0.66 | $0.59 | -10.61% | $486.4M | +2.01% |
| Q1 24 BEAT | $0.66 | $0.68 | +3.03% | $488.9M | -0.15% |
| Q4 23 BEAT FY | $0.51 | $0.95 | +86.27% | $462.7M | +5.25% |
| FY Full Year | — | $2.94 | — | $1.72B | — |
| Q3 23 BEAT | $0.48 | $0.60 | +25.00% | $411.6M | +0.06% |
| Q4 22 BEAT FY | $0.59 | $1.49 | +152.54% | $425.5M | +0.78% |
| FY Full Year | $1.68 | $3.36 | +100.00% | $1.66B | +0.15% |