Why Is Wynn (WYNN) Up 8.1% Since Last Earnings Report?

Zacks12-05

It has been about a month since the last earnings report for Wynn Resorts (WYNN). Shares have added about 8.1% in that time frame, outperforming the S&P 500. Will the recent positive trend continue ...

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Shares have added about 8.1% in that time frame, outperforming the S&P 500.\nWill the recent positive trend continue ...</p>\n\n<a href=\"https://finance.yahoo.com/news/why-wynn-wynn-8-1-163055541.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Is Wynn (WYNN) Up 8.1% Since Last Earnings Report?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Is Wynn (WYNN) Up 8.1% Since Last Earnings Report?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-05 00:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/why-wynn-wynn-8-1-163055541.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It has been about a month since the last earnings report for Wynn Resorts (WYNN). Shares have added about 8.1% in that time frame, outperforming the S&P 500.\nWill the recent positive trend continue ...</p>\n\n<a href=\"https://finance.yahoo.com/news/why-wynn-wynn-8-1-163055541.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BYD","symbol_name":"博伊德赌场","start_time":0,"source_url":"https://finance.yahoo.com/news/why-wynn-wynn-8-1-163055541.html","article_id":"2489414808","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/CorpxfcSD3xaruoFanouDg--~B/aD00NzY7dz05MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/ace7df31c7fcb10255abe7c990ea373a"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2489414808","pubTimestamp":1733329855,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"It has been about a month since the last earnings report for Wynn Resorts . Shares have added about 8.1% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Wynn due for a pullback?Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.Wynn Resorts Q3 Earnings & Revenues Miss Estimates. Wynn Resorts reported lower-than-expected third-quarter 2024 results wherein adjusted earnings and operating revenues missed the Zacks Consensus Estimate. On a year-over-year basis, the top line grew while the bottom line declined.The quarter’s results reflect demand across its resorts highlighted by strong mass gaming win in Macau and solid non-gaming performance in Las Vegas. However, increased casino and rooms expenses, along with high general and administrative expenses, were concerning ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"BYD":"博伊德赌场","WYNN":"永利度假村"},"translate_title":"为什么永利(WYNN)自上次盈利报告以来上涨了8.1%？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WYNN":1,"BYD":0.9},"content_text":"It has been about a month since the last earnings report for Wynn Resorts (WYNN). Shares have added about 8.1% in that time frame, outperforming the S&P 500.\nWill the recent positive trend continue leading up to its next earnings release, or is Wynn due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. \nWynn Resorts Q3 Earnings & Revenues Miss Estimates\nWynn Resorts reported lower-than-expected third-quarter 2024 results wherein adjusted earnings and operating revenues missed the Zacks Consensus Estimate. On a year-over-year basis, the top line grew while the bottom line declined.The quarter’s results reflect demand across its resorts highlighted by strong mass gaming win in Macau and solid non-gaming performance in Las Vegas. However, increased casino and rooms expenses, along with high general and administrative expenses, were concerning for the bottom line.The company’s continuous investments in expanding the business operations on a global scale, along with ensuring shareholder value, are commendable. This prudent attitude positions WYNN well for 2024 and beyond.\nWYNN’s Q3 Earnings & Revenues\nThe company reported adjusted earnings per share (EPS) of 90 cents, which missed the Zacks Consensus Estimate of $1.17 by 23.1%. In the prior-year quarter, the company reported an adjusted EPS of 99 cents.Quarterly operating revenues of $1.69 billion also missed the consensus mark of $1.74 billion by 2.4%. That said, the top line increased 1.2% on a year-over-year basis.\nWynn Palace Operations\nWynn Palace’s operating revenues declined to $519.8 million from $524.8 million reported in the prior-year quarter. Our model predicted segmental revenues to be $558.2 million.Casino revenues remained flat year over year at $418 million. Rooms and entertainment, retail and other revenues decreased 9.5% and 19.5% year over year to $49.1 million and $21.1 million, respectively.  Food and beverage revenues increased 20.2% year over year to $31.5 million.In the VIP segment, table games turnover was $3.2 billion, up 11.6% year over year. VIP table games win rate (based on turnover) was 3% compared with 3.4% in the prior-year quarter. Table drop in the mass market segment was $1.69 billion compared with $1.73 billion in the prior-year quarter. Table game wins in mass market operations amounted to $404.3 million compared with $402.3 million in the prior-year quarter.During the quarter, revenue per available room (RevPAR) declined 12.7% year over year to $289. Occupancy levels in the segment were 98.3% compared with 96.9% in the prior year quarter. The average daily rate (ADR) was $295, down 13.7% on a year-over-year basis.\nWynn Macau Operations\nWynn Macau’s operating revenues amounted to $352 million compared with $295 million in the prior-year quarter. For this business operation, we projected year-over-year growth of 1.2% to $298.7 million.Casino revenues were $296.8 million, up 28.9% year over year. On a year-over-year basis, revenues from rooms declined 25% to $23.8 million, while revenues from food and beverage increased 6.8% to $19.5 million. Entertainment and retail and other revenues declined 19.4% year over year to $11.9 million.Table games turnover in the VIP segment inched up 0.7% year over year to $1.2 billion. The VIP table games win rate (based on turnover) was 3.6%, up from 3.5% reported in the prior-year quarter.Table drop in the mass market segment was $1.52 billion compared with $1.38 billion in the prior-year quarter. Table games win in the mass market category was $280 million compared with $228.3 million in the prior-year quarter.During the quarter, RevPAR declined 28.8% year over year to $230. Occupancy levels in the segment were 98.9% compared with 98.7% in the prior-year quarter. ADR was $233, down 28.7% year over year.\nLas Vegas Operations\nOperating revenues from Las Vegas operations were $607.2 million compared with $619 million in the prior-year quarter. Our projection for the metric was $658.1 million.Casino revenues declined 13.6% year over year to $145.2 million. Revenues from food and beverage plunged 5.6% to $191.8 million. Revenues from rooms and entertainment, retail and other increased 4.8% and 20% year over year to $187.1 million and $83.1 million, respectively.Table games drop was down 4.4% year over year to $580.8 million. Table game wins also decreased 14.3% year over year to $135.2 million. Table games win percentage of 23.3% was down from 26% in the prior-year quarter.RevPAR rose 5.8% year over year to $441. The occupancy rate was 89%, down from 90% in the prior-year period. ADR was $495, up 6.9% year over year.\nEncore Boston Harbor\nOperating revenues from Encore Boston Harbor operations amounted to $214.1 million compared with $210.4 million in the prior-year quarter. Our projection for the metric was $203.4 million.Casino revenues increased 1.8% to $158.7 million. Revenues from rooms and food and beverage inched down 0.4% year over year to $24.7 million and $19.8 million, respectively. Entertainment, retail and other revenues increased 11.6% year over year to $10.8 million.During the quarter, table games win percentage of 21.3% was up from 20.8% in the prior-year quarter.RevPAR increased 1.7% year over year to $412. The occupancy rate was 96.9%, up from 96% in the prior-year quarter. ADR was $426, up 1.2% year over year.\nOperating Performance of Wynn Resorts\nDuring the third quarter, adjusted property EBITDAR was $527.7 million compared with $530.4 million in the prior-year quarter.Adjusted property EBITDAR from total Macau operations totaled $262.9 million compared with $255 million in the prior-year quarter. Adjusted property EBITDAR from Las Vegas operations was $202.7 million compared with $219.7 million in the year-ago quarter. Adjusted property EBITDAR from Encore Boston Harbor was $63 million compared with $60.5 million in the prior-year quarter.\nCash Position of WYNN\nAs of Sept. 30, 2024, Wynn Resorts’ cash and cash equivalents totaled $2.41 billion compared with $2.88 billion as of Dec. 31, 2023.Total current and long-term outstanding debt at the end of the third quarter amounted to $11.79 billion. The figure included $1.46 billion of Wynn Las Vegas-related debt, $6.41 billion of Macau debt, $3.3 billion of Wynn Resorts Finance debt and $614.5 million of debt held by the retail joint venture, which the company consolidated.\nHow Have Estimates Been Moving Since Then?\nIt turns out, estimates review have trended downward during the past month.\nThe consensus estimate has shifted -14.96% due to these changes.\nVGM Scores\nCurrently, Wynn has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.\nOverall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.\nOutlook\nEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Wynn has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.\nPerformance of an Industry Player\nWynn belongs to the Zacks Gaming industry. Another stock from the same industry, Boyd Gaming (BYD), has gained 7.4% over the past month. More than a month has passed since the company reported results for the quarter ended September 2024.\nBoyd reported revenues of $961.25 million in the last reported quarter, representing a year-over-year change of +6.4%. EPS of $1.52 for the same period compares with $1.36 a year ago.\nBoyd is expected to post earnings of $1.77 per share for the current quarter, representing a year-over-year change of +6.6%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.8%.\nBoyd has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nWynn Resorts, Limited (WYNN) : Free Stock Analysis Report\nBoyd Gaming Corporation (BYD) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2489414808"}