Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Wynn Resorts (WYNN) Soars After Q1 Earnings And Revenue Beat

Published 04/25/2017, 06:03 AM
Updated 07/09/2023, 06:31 AM

Wynn Resorts, Limited (NASDAQ:WYNN) just released its first quarter 2017 financial results, posting earnings of $1.24 per share and revenues of $1.48 billion. Currently, Wynn is a Zacks Rank #3 (Hold), and is up 3.03% to $121.80 per share in after-hours trading shortly after its earnings report was released.

Wynn:

Beat earnings estimates. The company posted earnings of $1.24 per share (excluding $0.25 from non-recurring items), topping the Zacks Consensus Estimate of $0.74 per share.

Beat revenue estimates. The company saw revenue figures of $1.48 billion, beating our consensus estimate of $1.34 billion.

Wynn reported first quarter 2017 profit of $100.8 million. The company posted net revenues of $1.48 billion, which marks a massive 47.9% increase year-over-year.

Wynn’s Las Vegas operations were up 6% year-over-year to $412.9 million. The new Wynn Palace, which opened in the third quarter of 2016, added $475.8 million in net revenues. Wynn reported adjusted property EBITDA of $427.5 million, an increase of 42.4% from the first quarter of 2016.

However, Wynn Macau saw a small overall drop-off. Net revenues from the company’s Macau operations fell by 3.5% year-over-year to $587.0 million. Wynn Macau’s adjusted property EBITDA was down 5.3% to $181.1 million.

Wynn also announced that it approved a cash dividend of $0.50 per share, which will be payable on May 23 to any stockholders on record as of May 11.

Here’s a graph that looks at Wynn’s Price, Consensus and EPS Surprise history:

Wynn Resorts, Limited Price, Consensus and EPS Surprise

Wynn Resorts, Limited Price, Consensus and EPS Surprise | Wynn Resorts, Limited Quote

Wynn Resorts Limited and its wholly-owned subsidiaries Wynn Las Vegas and Wynn Capital will own and operate Le Reve, which they've designed to be the preeminent luxury hotel and destination casino resort in Las Vegas. Le Reve will be situated at the site of the former Desert Inn & Casino on the Las Vegas Strip in Las Vegas, Nevada.

Check back later for our full analysis on Wynn’s earnings report!

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple (NASDAQ:AAPL) sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>



Wynn Resorts, Limited (WYNN): Free Stock Analysis Report

Original post

Zacks Investment Research

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.