Q1 24 EPS
$0.68
BEAT +3.03%
Est. $0.66
Q1 24 Revenue
$488.9M
MISS 0.15%
Est. $489.6M
vs S&P Since Q1 24
-12.1%
TRAILING MARKET
RRR +33.7% vs S&P +45.8%
Market Reaction
Did RRR Beat Earnings? Q1 2024 Results
Red Rock Resorts delivered a mixed but broadly encouraging first quarter for 2024, edging past earnings expectations even as revenue came in fractionally light. The Las Vegas-focused casino operator posted diluted EPS of $0.68, topping the $0.66 cons… Read more Red Rock Resorts delivered a mixed but broadly encouraging first quarter for 2024, edging past earnings expectations even as revenue came in fractionally light. The Las Vegas-focused casino operator posted diluted EPS of $0.68, topping the $0.66 consensus estimate by 3.03%, while revenue of $488.90 million grew 12.7% year over year but fell just 0.15% short of the $489.64 million Wall Street had expected. The headline growth story was the Durango Resort & Casino, opened in late 2023, which helped lift Las Vegas segment revenues 12.9% and contributed to what the company described as a record quarter for its regional locals business. That top-line momentum was partially offset at the bottom line, where net income declined 8.4% to $78.37 million, pressured by a $14.40 million debt extinguishment loss and interest expense that climbed to $57.20 million from $42.46 million a year ago. Adjusted EBITDA rose 7.7% to $209.14 million, underscoring the underlying operational strength even as elevated leverage weighed on reported earnings.
Key Takeaways
- • 12.7% year-over-year net revenue growth driven by Las Vegas operations
- • Casino revenue grew to $316.9 million from $288.2 million year over year
- • Food and beverage revenue increased 19.4% year over year
- • Room revenue increased 20.4% year over year
- • Adjusted EBITDA increased 7.7% year over year to $209.1 million
- • Durango Resort & Casino contributing to revenue growth following late 2023 opening
RRR YoY Financials
Q1 2024 vs Q1 2023, 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% |