Red Rock Resorts (RRR) Misses Q1 EPS by 19c, Revenues Beat

Red Rock Resorts (NASDAQ: RRR) reported Q1 EPS of $0.16, $0.19 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $447 million versus the consensus estimate of $445.35 million.

• Net revenues were $447.0 million for the first quarter of 2019, an increase of 6.2%, or $26.0 million, from $421.0 million for the same period of 2018. The increase in net revenues was primarily due to an increase in Las Vegas operations.
• Net income was $20.3 million for the first quarter of 2019, a decrease of 75.3%, or $61.8 million, from $82.1 million for the same period of 2018. The decrease in net income was primarily due to a decrease in the fair value of derivative instruments, an increase in write-downs and other charges, and a prior year gain associated with the extinguishment of a tax receivable liability.
• Adjusted EBITDA(1) was $145.1 million for the first quarter of 2019, an increase of 3.6%, or $5.0 million, from $140.1 million in the same period of 2018. The increase in Adjusted EBITDA was primarily due to an increase in Las Vegas operations.

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

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