Here Is What To Expect
Luxury hotels and casino operator Wynn Resorts (NASDAQ:WYNN) will be announcing earnings results this Tuesday after market close. Here’s what to expect.
Wynn Resorts beat analysts’ revenue expectations last quarter, reporting revenues of $1.86 billion, up 9.2% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates.
Is Wynn Resorts a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Wynn Resorts’s revenue to grow 5.4% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Wynn Resorts has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Wynn Resorts’s peers in the consumer discretionary – casino operator segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Monarch delivered year-on-year revenue growth of 4.2%, missing analysts’ expectations by 0.7%, and Boyd Gaming reported flat revenue, in line with consensus estimates. Monarch traded down 5.6% following the results while Boyd Gaming’s stock price was unchanged.
Read our full analysis of Monarch’s results here and Boyd Gaming’s results here.
Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). While some of the consumer discretionary – casino operator stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.4% on average over the last month. Wynn Resorts is up 3.6% during the same time and is heading into earnings with an average analyst price target of $133.32 (compared to the current share price of $99.31).
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