On Nov. 2, Station Casinos (NYSE:STN) released third-quarter earnings for the period ended Sept. 30.

  • Adjusted (non-GAAP) EPS of $0.38 was down 40% from last year.
  • Revenues grew 25% on strong growth in its major Las Vegas operations.
  • Increases in operating expenses and interest expense hurt margins and the bottom line.
  • Station Casinos has a five-star rating in Motley Fool CAPS.

(Figures in millions, except per-share data)

Income Statement Highlights

Avg. Est.

Q3 2006

Q3 2005

Change

Sales

$351

$346

$276

25.2%

Net Profit*

--

$19

$39

(50.6%)

EPS

$0.51

$0.34

$0.56

(39.3%)

Diluted Shares

--

57

70

(18.7%)

*Net Profit does not include income from discontinued operations.

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

Margin Checkup

Q3 2006

Q3 2005

Change*

Gross Margin

56.10%

61.24%

(5.14)

Operating Margin

22.25%

27.29%

(5.04)

Net Margin

5.56%

14.10%

(8.54)

*Expressed in percentage points.

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q3 2006

Q3 2005

Change

Cash + ST Invest.

$95

$66

44.9%

Accounts Rec.

$48

$18

161.6%



Liabilities

Q3 2006

Q3 2005

Change

Accounts Payable

No Data

No Data

No Data

Long-Term Debt

$2,305

$1,607

43.5%



Learn the ways of the balance sheet.

Cash Flow Highlights

Data not provided.

EBITDA by Region

Q3 2006

Q3 2005

Change

Las Vegas Operations

$102

$98

4.1%

Green Valley Ranch*

$25

$24

4.2%

Station Casinos Total

$127

$118

7.6%

*50% owned

Find out why Fools always follow the money.

Related companies:

  • Harrah's Entertainment (NYSE:HET)
  • MGM Mirage (NYSE:MGM)
  • Ameristar Casinos (NASDAQ:ASCA)
  • Penn National Gaming (NASDAQ:PENN)

Related Foolishness:

Ameristar is a Motley Fool Hidden Gems recommendation.

Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.