NASDAQ$RRR
Red Rock Resorts Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Red Rock Resorts reported an increase in net revenues and adjusted EBITDA but a decrease in net income for Q1 2024.
Red Rock Resorts announced its Q1 2024 financial results, with net revenues reaching $488.9 million, a 12.7% increase year-over-year. Net income decreased to $78.4 million, while Adjusted EBITDA rose to $209.1 million.
- Net revenues increased by 12.7% to $488.9 million compared to Q1 2023.
- Net income decreased by 8.4% to $78.4 million compared to the same period last year.
- Adjusted EBITDA increased by 7.7% to $209.1 million year-over-year.
- Las Vegas operations saw a 12.9% increase in net revenues, reaching $485.6 million.
Headline financials
Revenue & EPS history
Red Rock Resorts · Revenue · Quarterly
$489M
Revenue by segment
Red Rock Resorts · $412M total across 4 segments · Q3 2023
- Casino$273M-3.4%66.3%
- Food and beverage$72.8M+4.3%17.7%
- Room$42M+7.6%10.2%
- Other$24M+4.6%5.8%
Forward guidance
The company did not provide specific forward guidance in the press release. The press release contains forward-looking statements and information on potential factors which could affect our financial condition.
Tailwinds
- The company's Board of Directors has declared a cash dividend of $0.25 per Class A common share for the second quarter of 2024.
- Net revenues were $488.9 million for the first quarter of 2024, an increase of 12.7%, or $55.3 million.
- Adjusted EBITDA was $209.1 million for the first quarter of 2024, an increase of 7.7%, or $15.0 million.
- Net revenues from Las Vegas operations were $485.6 million for the first quarter of 2024, an increase of 12.9%, or $55.5 million.
- Adjusted EBITDA from Las Vegas operations was $229.8 million for the first quarter of 2024, an increase of 7.3%, or $15.7 million.
Headwinds
- Net income was $78.4 million for the first quarter of 2024, a decrease of 8.4%, or $7.2 million.
- The company’s total principal amount of debt outstanding at the end of the first quarter was $3.5 billion.
- Rising inflation, higher interest rates and increased energy costs could impact consumer demand and the Company’s business, financial results and liquidity
- Unemployment and changes in general economic conditions could impact discretionary spending and consumer demand
- Risks associated with construction projects, including disruption of our operations, shortages of materials or labor, unexpected costs, unforeseen permitting or regulatory issues and weather, could affect future performance.
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 Q1 2024
-0.1%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+1.5%
Avg return
30 days after
48%
20 / 42 earnings
Positive
+16.5%
Q1 2020
Best reaction
-11.6%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.2% | -5.6% | +4.1% | |
| Q4 2025 | -2.9% | -7.8% | -13.4% | |
| Q3 2025 | -11.6% | -8.7% | -1.1% | |
| Q1 2025 | +3.4% | +4.1% | +13.7% | |
| Q4 2024 | +1.3% | +3.7% | -11.5% | |
| Q3 2024 | -5.9% | -7.4% | -12.5% | |
| Q2 2024 | -4.5% | -2.1% | -7.1% | |
| Q1 2024 | -7.4% | -7.4% | -6.4% | |
| Q4 2023 | +5.2% | +7.6% | +4.1% | |
| Q3 2023 | +1.8% | +1.4% | +8.9% | |
| Q2 2023 | -5.5% | -8.1% | -6.8% | |
| Q1 2023 | +1.8% | -0.9% | -0.8% | |
| Q4 2022 | -0.9% | +0.1% | -6.0% | |
| Q3 2022 | +5.3% | +6.2% | +13.9% | |
| Q2 2022 | -0.7% | +3.6% | -5.6% | |
| Q1 2022 | -8.1% | -12.8% | -11.6% | |
| Q4 2021 | +2.7% | +7.8% | +4.3% | |
| Q3 2021 | -9.5% | -8.6% | -11.7% | |
| Q2 2021 | -1.1% | -3.6% | +14.5% | |
| Q1 2021 | +3.1% | +5.0% | +21.7% | |
| Q4 2020 | -0.3% | +2.7% | +24.1% | |
| Q3 2020 | -8.1% | -2.3% | +13.1% | |
| Q2 2020 | +7.1% | +19.1% | +47.6% | |
| Q1 2020 | +16.5% | +29.9% | +27.8% | |
| Q4 2019 | +10.8% | +6.6% | -33.4% | |
| Q3 2019 | -6.9% | -6.6% | -2.1% | |
| Q2 2019 | -7.5% | +0.2% | +11.5% | |
| Q1 2019 | -5.6% | -4.2% | -22.8% | |
| Q4 2018 | +4.3% | +6.2% | -1.9% | |
| Q3 2018 | +4.7% | -5.2% | -4.6% | |
| Q2 2018 | -1.2% | -3.0% | -5.4% | |
| Q1 2018 | +7.2% | +8.4% | +14.1% | |
| Q4 2017 | -3.0% | -5.9% | -15.2% | |
| Q3 2017 | +6.3% | +6.3% | +26.0% | |
| Q2 2017 | -4.4% | -7.9% | -5.3% | |
| Q1 2017 | -1.3% | -1.0% | +1.9% | |
| Q4 2016 | -4.8% | -2.8% | -0.1% | |
| Q3 2016 | +2.5% | +2.7% | +7.0% | |
| Q4 2015 | +4.6% | +3.5% | -4.4% | |
| Q2 2015 | +4.6% | +3.5% | -4.4% | |
| Q2 2016 | +4.6% | +3.5% | -4.4% | |
| Q1 2016 | +1.5% | +3.8% | +2.7% | |
| Q3 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — |
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