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Wynn (WYNN) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·3-min read

For the quarter ended March 2024, Wynn Resorts (WYNN) reported revenue of $1.86 billion, up 30.9% over the same period last year. EPS came in at $1.59, compared to $0.29 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.77 billion, representing a surprise of +5.05%. The company delivered an EPS surprise of +11.19%, with the consensus EPS estimate being $1.43.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Wynn performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Table Drop - Las Vegas Operations: $604.17 million versus the three-analyst average estimate of $640.07 million.

  • Room occupancy rate - Wynn Las Vegas: 88% compared to the 91.6% average estimate based on three analysts.

  • Average daily room rate - Wynn Las Vegas: $595 versus the three-analyst average estimate of $542.09.

  • Slot Machine Handle - Las Vegas Operations: $1.50 billion compared to the $1.69 billion average estimate based on three analysts.

  • Operating revenues- Encore Boston Harbor: $217.78 million compared to the $215.08 million average estimate based on four analysts. The reported number represents a change of +0.7% year over year.

  • Operating revenues- Las Vegas Operations: $636.55 million compared to the $616.30 million average estimate based on four analysts. The reported number represents a change of +8.5% year over year.

  • Operating revenues- Wynn Macau: $411.74 million versus the three-analyst average estimate of $351.76 million. The reported number represents a year-over-year change of +78.5%.

  • Operating revenues- Wynn Palace: $586.90 million versus the three-analyst average estimate of $534.70 million. The reported number represents a year-over-year change of +58.9%.

  • Encore Boston Harbor- Operating revenues- Rooms: $20.78 million versus $19.03 million estimated by three analysts on average.

  • Encore Boston Harbor- Operating revenues- Casino: $166.17 million versus $167.77 million estimated by three analysts on average.

  • Las Vegas Operations- Operating revenues- Rooms: $224.08 million versus $214.97 million estimated by three analysts on average.

  • Las Vegas Operations- Operating revenues- Casino: $135.16 million compared to the $160.67 million average estimate based on three analysts.

View all Key Company Metrics for Wynn here>>>

Shares of Wynn have returned -7.7% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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