Wynn Resorts, Limited Earnings Cheat Sheet: Swinging to a Profit

S&P 500 (NYSE:SPY) component Wynn Resorts, Limited (NASDAQ:WYNN) reported its results for the third quarter. Wynn Resorts is a developer, owner and operator of destination casino resorts. It owns and operates three: Wynn Las Vegas, Encore at Wynn Las Vegas, and Wynn Macau.

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Wynn Resorts Earnings Cheat Sheet for the Third Quarter

Results: Reported a profit of $127.1 million ($1.01 per diluted share) in the quarter. Wynn Resorts, Limited had a net loss of $33.5 million or a loss 27 cents per share in the year earlier quarter.

Revenue: Rose 29.1% to $1.3 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: WYNN reported adjusted net income of $1.05 per share. By that measure, the company fell short of mean estimate of $1.17 per share. Analysts were expecting revenue of $1.29 billion.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 36.6%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 52.9% from the year earlier quarter.

The company has now fallen short of estimates in the last two quarters. In the second quarter, it missed expectations by 2 cents with net income of 97 cents versus a mean estimate of net income of 99 cents per share.

Looking Forward: Analysts are pessimistic about the company’s results for the next quarter. The average estimate has fallen for the fourth quarter to $1.35 per share, down from $1.37 seven days ago. For the fiscal year, the average estimate has moved up from $5.38 a share to $5.50 over the last ninety days.

Competitors to Watch: Las Vegas Sands Corp. (NYSE:LVS), MGM Resorts International. (NYSE:MGM), Pinnacle Entertainment, Inc (NYSE:PNK), Melco Crown Entertainment Ltd (NASDAQ:MPEL), Boyd Gaming Corporation (NYSE:BYD), Riviera Holdings Corp. (RVHLQ), Archon Corporation (ARHND), Asia Entertainment & Resources Ltd. (NASDAQ:AERL), and Monarch Casino & Resort, Inc. (NASDAQ:MCRI).

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(Source: Xignite Financials)