Red Rock Resorts (RRR) Reports Q1 EPS of $0.30, Miss on Revenues

Red Rock Resorts (NASDAQ: RRR) reported Q1 EPS of $0.30. Revenue for the quarter came in at $417.7 million versus the consensus estimate of $436.74 million.

Financial Highlights:

• Consolidated net revenues increased 16.3% to $417.7 million as compared to $359.2 million in the prior year quarter, the sixteenth consecutive quarter of year-over-year consolidated net revenue growth.
• Consolidated net income decreased 24.0% to $45.2 million as compared to $59.5 million in the prior year quarter, primarily attributable to the inclusion of the provision for income tax.
• Consolidated Adjusted EBITDA increased 2.0% to $135.9 million as compared to $133.2 million in the prior year quarter, the highest first quarter Consolidated Adjusted EBITDA in nine years.
• Las Vegas net revenues increased 16.5% to $386.2 million as compared to $331.5 million in the prior year quarter.
• Las Vegas Adjusted EBITDA increased 1.3% to $120.6 million as compared to $119.0 million in the prior year quarter.
• Completed a series of opportunistic debt transactions that enhanced our balance sheet and reduced our annual interest expense by approximately $22.8 million.

For earnings history and earnings-related data on Red Rock Resorts (RRR) click here.

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