NASDAQ$MCRI

Monarch Casino & Resort Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported record operating results for the fourth quarter and full year.

Monarch Casino & Resort reported record net revenue of $111.1 million and Adjusted EBITDA of $39.0 million for the fourth quarter of 2021. The increase in revenue was primarily driven by the ramp up of operations at the Company’s hotel and expanded casino in Black Hawk.

  • Net revenue and Adjusted EBITDA in the fourth quarter of 2021 were $111.1 million and $39.0 million, respectively, both fourth quarter records.
  • Full year net revenue and Adjusted EBITDA were $395.4 million and $137.3 million, respectively, both all-time records.
  • Monarch Black Hawk operations continued to ramp up in the fourth quarter, with the opening of an all-new sports book, lounge and bar.
  • The company expects that 2022 will be another year of strong operating performance and financial results.

Headline financials

Total Revenue

$111M

Previous: $58.4M+90.3%
EPS (adj)

$1.02

Previous: $0.80+27.5%
Adjusted EBITDA

$39M

No prior period
Capital Expenditures

$19.9M

Previous: $58.4M-65.9%
Free Cash Flow

$11.9M

Previous: -$46.3M+125.7%
Net Income

$19.9M

Previous: $15.3M+29.9%
Gross Profit

$60.3M

Previous: $31.3M+92.7%
Cash & Equivalents

$33.5M

Previous: $28.3M+18.4%
Total Assets

$690M

Previous: $672M+2.8%
Stock-Based Comp

$961K

Previous: $1.1M-13.0%

Revenue & EPS history

Monarch · Revenue · Quarterly

$111M

Q4 2021+90.3%vs Q4 2020
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Forward guidance

The company expects that 2022 will be another year of strong operating performance and financial results. They continue to evaluate acquisition opportunities and remain committed to deploying capital in a manner that will position Monarch to grow and build long-term value for its stockholders.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+1.1%

Avg return

Earnings day

+1.8%

Avg return

5 days after

+5.7%

Avg return

30 days after

55%

36 / 65 earnings

Positive

+19.1%

Q3 2015

Best reaction

-34.0%

Q4 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+15.8%+19.3%+18.3%
Q4 2025+2.3%+7.4%+5.6%
Q3 2025-4.2%-4.2%-0.6%
Q2 2025-1.3%-0.6%+2.3%
Q1 2025+2.4%+1.6%+7.7%
Q3 2024+6.3%+7.3%+14.5%
Q2 2024+9.4%+11.6%+6.1%
Q1 2024-5.5%-3.0%-4.4%
Q4 2023+0.6%-0.8%+3.3%
Q3 2023-7.4%-4.2%+2.8%
Q2 2023-5.1%-4.6%-10.5%
Q1 2023-3.5%-5.7%-10.5%
Q4 2022+0.1%-0.5%-8.4%
Q3 2022+15.5%+21.5%+33.8%
Q2 2022-1.0%+0.2%+7.8%
Q1 2022-17.4%-15.8%-27.2%
Q4 2021+10.3%+7.7%+16.3%
Q3 2021+9.7%+7.4%+6.1%
Q2 2021+6.8%+6.2%+9.4%
Q1 2021+9.8%+7.4%+4.3%
Q4 2020+6.4%+10.6%+4.0%
Q3 2020+5.0%+13.5%+36.8%
Q2 2020-0.3%-0.5%+24.0%
Q1 2020+3.4%+22.5%+47.0%
Q4 2019-34.0%-46.4%-10.8%
Q3 2019-0.4%-0.7%+5.2%
Q2 2019+4.0%+5.8%-3.2%
Q1 2019-5.9%-4.7%-4.0%
Q4 2018+2.6%+2.3%-1.4%
Q3 2018-4.9%-13.8%-14.0%
Q2 2018+1.0%+0.1%+1.3%
Q1 2018-0.9%-1.0%+4.6%
Q4 2017-4.7%-4.8%-4.6%
Q3 2017+5.4%+8.4%+12.8%
Q2 2017+14.4%+13.4%+14.9%
Q1 2017+1.4%+0.2%+2.8%
Q4 2016+5.7%+7.9%+19.2%
Q3 2016-0.2%-2.7%+7.5%
Q2 2016-0.8%+1.2%+2.9%
Q1 2016-2.0%
Q4 2015+8.4%
Q3 2015+19.1%
Q2 2015+1.9%
Q1 2015+4.8%
Q4 2014+3.8%
Q3 2014+8.4%
Q2 2014-5.6%
Q1 2014+2.4%
Q4 2013+1.9%
Q3 2013-12.8%
Q2 2013+6.5%
Q1 2013+10.8%
Q4 2012-4.1%
Q3 2012+3.9%
Q2 2012-0.8%
Q1 2011+1.0%
Q1 2012+2.7%
Q4 2009-4.9%
Q4 2011-4.9%
Q3 2011-5.5%
Q3 2010-5.5%
Q2 2011-3.6%
Q2 2010-3.6%
Q4 2010-3.6%
Q1 2010+10.4%

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