Caesars Entertainment Corp Earnings: Here’s Why Shares are Down Now
Caesars Entertainment Corporation (NASDAQ:CZR) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.58%.
Caesars Entertainment Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-1.69 in the quarter versus EPS of $-1.93 in the year-earlier quarter.
Revenue: Decreased 0.36% to $2.16 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Caesars Entertainment Corporation reported adjusted EPS loss of $1.69 per share. By that measure, the company missed the mean analyst estimate of $-1.57. It missed the average revenue estimate of $2.18 billion.
Quoting Management: “We reached a number of key milestones against our strategic initiatives in recent months, including breaking ground on Horseshoe Baltimore; setting a new attendance record at the World Series of Poker; beginning construction on our meetings facility in Atlantic City; and executing on our hospitality investments in Las Vegas,” said Gary Loveman, chairman, chief executive officer and president of Caesars Entertainment Corporation.
Key Stats (on next page)…
Revenue increased 0.69% from $2.14 billion in the previous quarter. EPS increased to $-1.69 in the quarter versus EPS of $-1.74 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $1.44 to a loss $1.46. For the current year, the average estimate has moved down from a loss of $6.11 to a loss of $6.51 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)