Red Rock Resorts Third Quarter 2024 Earnings: Beats Expectations

In This Article:

Red Rock Resorts (NASDAQ:RRR) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$468.0m (up 14% from 3Q 2023).

  • Net income: US$29.0m (down 19% from 3Q 2023).

  • Profit margin: 6.2% (down from 8.6% in 3Q 2023). The decrease in margin was driven by higher expenses.

  • EPS: US$0.49 (down from US$0.61 in 3Q 2023).

earnings-and-revenue-growth
NasdaqGS:RRR Earnings and Revenue Growth November 9th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Red Rock Resorts Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 34%.

Looking ahead, revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US.

Performance of the American Hospitality industry.

The company's shares are up 2.5% from a week ago.

Risk Analysis

Before you take the next step you should know about the 3 warning signs for Red Rock Resorts (1 is a bit concerning!) that we have uncovered.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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