Published on 8 May 2024 on Zacks via Yahoo Finance

Red Rock Resorts (RRR) Q1 Earnings Top Estimates, Revenues Lag

Red Rock Resorts, Inc. RRR reported mixed first-quarter 2024 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The top line increased year over year, while the bottom line declined from the prior-year quarter’s figure. Following the results, the company’s shares fell 4.3% during the after-hour trading session on May 7.

Earnings & Revenues

In the quarter under review, adjusted earnings per share (EPS) came in at 68 cents, outpacing the Zacks Consensus Estimate of 50 cents. In the prior-year quarter, it recorded an adjusted EPS of 75 cents.Quarterly revenues of $488.9 million missed the Zacks Consensus Estimate of $489 million. The top line rose 12.7% on a year-over-year basis. The upside was backed by strong visitation and play in local, regional and national segments. Also, strong spend per visit (on the majority of card-to-play options) added to the positives.