The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Wynn Resorts met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share expanded.
Gross margins contracted, operating margins increased, net margins shrank.
Wynn Resorts reported revenue of $1.30 billion. The 19 analysts polled by S&P Capital IQ expected a top line of $1.31 billion on the same basis. GAAP reported sales were 0.0% higher than the prior-year quarter's $1.30 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.48. The 22 earnings estimates compiled by S&P Capital IQ predicted $1.33 per share. GAAP EPS of $1.11 for Q3 were 9.9% higher than the prior-year quarter's $1.01 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 71.9%, 10 basis points worse than the prior-year quarter. Operating margin was 20.7%, 160 basis points better than the prior-year quarter. Net margin was 8.6%, 120 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.29 billion. On the bottom line, the average EPS estimate is $1.30.
Next year's average estimate for revenue is $5.15 billion. The average EPS estimate is $5.53.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 892 members out of 1,226 rating the stock outperform, and 334 members rating it underperform. Among 287 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 216 give Wynn Resorts a green thumbs-up, and 71 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Wynn Resorts is outperform, with an average price target of $130.86.
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