Q2 24 EPS
$0.59
MISS 10.61%
Est. $0.66
Q2 24 Revenue
$486.4M
BEAT +2.01%
Est. $476.8M
vs S&P Since Q2 24
-23.4%
TRAILING MARKET
RRR +16.0% vs S&P +39.5%
Market Reaction
Did RRR Beat Earnings? Q2 2024 Results
Red Rock Resorts delivered a mixed second quarter for 2024, beating on revenue while falling short on the bottom line, as the costs of its Durango Resort & Casino expansion weighed heavily on earnings. Net revenue climbed 16.9% year-over-year to $486… Read more Red Rock Resorts delivered a mixed second quarter for 2024, beating on revenue while falling short on the bottom line, as the costs of its Durango Resort & Casino expansion weighed heavily on earnings. Net revenue climbed 16.9% year-over-year to $486.40 million, edging past the $476.82 million consensus estimate by 2.01%, with Las Vegas operations accounting for nearly all of the top-line contribution at $483.21 million. However, diluted EPS came in at $0.59, missing the $0.66 analyst consensus by 10.61%, as sharply higher interest expense of $57.43 million, up from $44.34 million a year ago, and increased depreciation of $46.70 million, reflecting the capital deployed for Durango, compressed net income to $69.81 million from $74.91 million in the prior-year period. Adjusted EBITDA grew 15.0% to $201.66 million, underscoring solid operational performance, but the debt burden associated with the new property proved to be the defining headwind for the quarter.
Key Takeaways
- • Durango Resort & Casino contribution to revenue and EBITDA growth
- • Strong casino revenue growth of 18.6% year-over-year
- • Food and beverage revenue growth of 18.2% year-over-year
- • Room revenue growth of 11.7% year-over-year
RRR YoY Financials
Q2 2024 vs Q2 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% |