On May 7, Wynn Resorts (NASDAQ:WYNN) released first-quarter earnings for the period ended March 31.

  • Results for this quarter include Wynn Macau, which opened in September 2006.
  • The company is constructing the $2.1 billion Encore on the Las Vegas Strip, expected to open in early 2009.
  • Table drop at Wynn Las Vegas was well above management's expectations, at 28%. Did Wynn get lucky again?
  • Wynn carries a two-star rating (out of five) in Motley Fool CAPS, while competitors Las Vegas Sands (NYSE:LVS) and MGM Mirage (NYSE:MGM) have three-star ratings.

(Figures in millions, except per-share data)

Income Statement Highlights

Q1 2007

Q1 2006

Change

Sales

$635.3

$277.2

129.2%

Net Profit

$58.4

($11.4)

N/A

EPS

$0.54

($0.12)

N/A

Diluted Shares

112.3

98.7

13.8%

Get back to basics with a look at the income statement.

Margin Checkup

Q1 2007

Q1 2006

Change*

EBITDA Margin

17.5%

28.5%

(11.0)

Operating Margin

17%

3.5%

13.5

Net Margin

9.2%

(4.1%)

13.3

*Expressed in percentage points.

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

No data available.

Learn the ways of the balance sheet.

Wynn Las Vegas Highlights

Q1 2007

Q1 2006

Change

Occupancy

96.2%

95.5%

0.7%*

ADR

$310

$293

5.8%

RevPAR

$298

$279

6.8%

Table Hold

27.6%

19.8%

7.8%*

*Expressed in percentage points

Related Foolishness:

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