Caesars Entertainment (CZR) Misses Q1 EPS by 13c, Revs Beat

Caesars Entertainment (NASDAQ: CZR) reported Q1 EPS of ($0.32), $0.13 worse than the analyst estimate of ($0.19). Revenue for the quarter came in at $2.12 billion versus the consensus estimate of $2.08 billion.

• Net revenues increased 7.3% to $2.12 billion.
• Income from operations increased 92% to $240 million.
• Net loss attributable to Caesars was $217 million. Basic loss per share totaled $0.32.
• Non-GAAP hold adjusted net revenues increased 5.6% to $2.11 billion.
• Non-GAAP adjusted EBITDAR increased 8.5% to $562 million.
• Non-GAAP hold adjusted EBITDAR increased 2.8% to $558 million.

"Caesars delivered another solid quarter of revenue and EBITDAR growth, as well as margin improvement," said Eric Hession, Executive Vice President and Chief Financial Officer. "We realized strong contributions from the Las Vegas gaming and hotel businesses, and Centaur, in addition to further operating and corporate efficiencies. These results were partially offset by the impact of competition in Atlantic City, and weather-related property closures. In addition, we generated strong cash flow from operations, which allowed us to pay off our $100 million revolver balance."

For earnings history and earnings-related data on Caesars Entertainment (CZR) click here.

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