Q3 24 EPS
$0.48
MISS 7.69%
Est. $0.52
Q3 24 Revenue
$468.0M
BEAT +1.37%
Est. $461.7M
vs S&P Since Q3 24
+3.1%
BEATING MARKET
RRR +29.3% vs S&P +26.2%
Market Reaction
Did RRR Beat Earnings? Q3 2024 Results
Red Rock Resorts delivered a mixed third quarter for 2024, posting revenue that edged past expectations while falling short on the bottom line. The Las Vegas locals casino operator grew consolidated net revenues 13.7% year-over-year to $468.02 millio… Read more Red Rock Resorts delivered a mixed third quarter for 2024, posting revenue that edged past expectations while falling short on the bottom line. The Las Vegas locals casino operator grew consolidated net revenues 13.7% year-over-year to $468.02 million, clearing the $461.67 million consensus estimate, with the Durango Resort and Casino, which opened in late 2023, serving as the primary engine of that top-line expansion. Yet profitability told a more complicated story: earnings per diluted share came in at $0.48, missing the $0.52 consensus by 7.69%, as surging interest expense of $58.00 million and a sharp jump in depreciation and amortization to $47.37 million, both tied to the Durango asset base, weighed heavily on net income, which fell 19.0% to $55.39 million. Adjusted EBITDA grew a more modest 4.3% to $182.71 million. Looking ahead, the company has outlined aggressive renovation and expansion plans across multiple properties, signaling continued capital intensity as it bets on long-term growth in the Las Vegas locals market.
Key Takeaways
- • Las Vegas operations net revenue growth of 13.9% year-over-year driven by Durango Resort & Casino contributions
- • Casino revenue increased 15.2% year-over-year to $314.2 million
- • Food and beverage revenue increased 14.5% year-over-year
- • Adjusted EBITDA grew 4.3% to $182.7 million
RRR YoY Financials
Q3 2024 vs Q3 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% |