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Red Rock Resorts (RRR) Q2 Earnings & Revenues Top Estimates

·3-min read

Red Rock Resorts, Inc. RRR reported second-quarter 2022 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Earnings beat the consensus mark for the ninth straight quarter. The top line fell year over year, but the bottom line increased on a year-over-year basis. The company reported a rise in visitation and strong spending per visit across its portfolio.

Earnings & Revenues

In the quarter under review, adjusted earnings per share (EPS) came in at $1.27, which beat the Zacks Consensus Estimate of 52 cents. In the prior-year quarter, the company had reported an adjusted EPS of $1.12.

Quarterly revenues of $422.2 million beat the consensus mark of $402 million. However, the top line declined 1% on a year-over-year basis. Meanwhile, adjusted EBITDA in the quarter was $188.9 million, down 10% year over year.

Red Rock Resorts, Inc. Price, Consensus and EPS Surprise

 

Red Rock Resorts, Inc. Price, Consensus and EPS Surprise
Red Rock Resorts, Inc. Price, Consensus and EPS Surprise

Red Rock Resorts, Inc. price-consensus-eps-surprise-chart | Red Rock Resorts, Inc. Quote

 

Segmental Details

Las Vegas Operations: During second-quarter 2022, revenues in the segment totaled $420.1 million compared with $426.4 million reported in the prior-year quarter. The segments' adjusted EBITDA was $203.9 million, down 8% on a year-over-year basis.

Native American Management: During the quarter under discussion, the company did not report any revenues in the Native American Management segment.

Other Financial Details

As of Jun 30, 2022, Red Rock Resorts had cash and cash equivalent of $256.3 million compared with $336.6 million reported in the previous quarter.

Outstanding debt at the end of the second quarter amounted to $2.88 billion compared with $2.89 billion reported in the previous quarter.

Zacks Rank & Key Picks

Red Rock Resorts carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some better-ranked stocks in the Zacks Consumer Discretionary sector are Playa Hotels & Resorts N.V. PLYA, Marriott International, Inc. MAR and Choice Hotels International, Inc. CHH.

Playa Hotels sports a Zacks Rank #1. PLYA has a trailing four-quarter earnings surprise of negative 8.8%, on average. The stock has gained 1.5% in the past year.

The Zacks Consensus Estimate for PLYA’s current financial year sales and EPS indicates an increase of 54.2% and 183.33%, respectively, from the year-ago period’s reported levels.

Marriott carries a Zacks Rank #2 (Buy). MAR has a trailing four-quarter earnings surprise of 18.6%, on average. The stock has increased 15.1% in the past year.

The Zacks Consensus Estimate for MAR’s current financial year sales and EPS indicates growth of 46.1% and 101.6%, respectively, from the year-ago period’s reported levels.

Choice Hotels carries a Zacks Rank #2. CHH has a trailing four-quarter earnings surprise of 11.2%, on average. The stock has declined 5.9% in the past year.

The Zacks Consensus Estimate for CHH’s current financial year sales and EPS indicates growth of 18.1% and 19.4%, respectively, from the year-ago period’s reported levels.


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