For the quarter ended March 2025, Red Rock Resorts (RRR) reported revenue of $497.86 million, up 1.8% over the same period last year. EPS came in at $0.80, compared to $0.68 in the year-ago quarter.The reported revenue represents a surprise of +0.82% over the Zacks Consensus Estimate of $493.82 million. With the consensus EPS estimate being $0.47, the EPS surprise was +70.21%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stre ...

Red Rock Resorts (RRR) came out with quarterly earnings of $0.80 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.68 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 70.21%. A quarter ago, it was expected that this company would post earnings of $0.42 per share when it actually produced earnings of $0.76, delivering a surprise of 80.95%.Over the last four quarters, the company ...

Red Rock Resorts (RRR) Q1 2025 Earnings Call May 01, 2025 04:30 PM ET Speaker0 Good afternoon, and welcome to Red Rock Resorts First Quarter twenty twenty five Conference Call. All participants will be in a listen only mode. Please note this conference is being recorded. I would now like to turn the conference over to Stephen Coote, Executive Vice President, Chief Financial Officer and Treasurer of Red Rock Resorts. Please go ahead. Speaker1 Thank you, operator, and good afternoon, everyone. Thank you for j ...

Exhibit 99.1 Red Rock Resorts Announces First Quarter 2025 Results • Net revenues were $497.9 million for the first quarter of 2025, an increase of 1.8%, or $9.0 million, from $488.9 million in the same period of 2024. • Net income was $86.0 million for the first quarter of 2025, an increase of 9.7%, or $7.6 million, from $78.4 million in the same period of 2024. • Adjusted EBITDA(1) was $215.1 million for the first quarter of 2025, an increase of 2.8%, or $5.9 million, from $209.1 million in the same perio ...

LAS VEGAS, May 1, 2025 /PRNewswire/ -- Red Rock Resorts, Inc. ("Red Rock Resorts," "we" or the "Company") (NASDAQ: RRR) today reported financial results for the first quarter ended March 31, 2025.First Quarter ResultsConsolidated Operations Net revenues were $497.9 million for the first quarter of 2025, an increase of 1.8%, or $9.0 million, from $488.9 million in the same period of 2024. Net income was $86.0 million for the first quarter of 2025, an increase of 9.7%, or $7.6 million, from $78.4 million in t ...

Core Viewpoint - Red Rock Resorts, Inc. will release its financial results for Q1 2025 on May 1, 2025, followed by a conference call at 4:30 p.m. ET [1] Group 1: Financial Results Announcement - The financial results for the first quarter of 2025 will be announced on May 1, 2025 [1] - A conference call will take place on the same day at 4:30 p.m. ET, including prepared remarks and a Q&A session [1] Group 2: Conference Call Details - Participants can join the conference call by dialing (888) 317-6003 for domestic calls or (412) 317-6061 for international calls, with a passcode of 1027971 [2] - A live audio webcast will be available on the company's website [2] Group 3: Replay Information - A replay of the conference call will be accessible until May 8, 2025, by calling (877) 344-7529 or (412) 317-0088 with conference ID: 2335668 [3] - An audio archive of the call will also be available on the company's website [3] Group 4: Company Overview - Red Rock Resorts is a holding company that manages Station Casinos LLC, a leading provider of gaming and entertainment in Las Vegas, Nevada [4] - Station Casinos operates various properties that include restaurants, entertainment venues, and traditional casino gaming offerings [4] - The company owns and operates multiple casino resorts and has a 50% interest in Barley's Casino & Brewing Company and other establishments [4]

Core Viewpoint - Red Rock Resorts, Inc. (RRR) is positioned for growth due to strong Las Vegas operations, the successful performance of Durango Casino Resort, and a robust development pipeline, despite concerns regarding the uncertain macroeconomic environment [1][2][9]. Factors Driving Growth of RRR Stock - Strong momentum in Las Vegas operations and the successful launch of Durango Casino & Resort are key growth drivers, supported by robust local demand and rising entertainment spending [2]. - Durango Casino & Resort has exceeded expectations in both gaming and non-gaming revenues, tapping into pent-up demand in an underserved area, contributing significantly to overall earnings [3]. - The company is making substantial investments in property enhancements, including a $53 million renovation at Sunset Station, aimed at improving guest experiences and aligning with consumer preferences [4]. Long-term Growth Strategy - Red Rock Resorts is confident in its long-term growth strategy, with over 450 acres of prime developable land in Las Vegas, positioning the company to potentially double its portfolio [5]. - The success of Durango Casino reinforces the strength of the development pipeline and extensive real estate holdings, setting the stage for significant growth [5]. Concerns for RRR Stock - The stock has declined 18.1% over the past six months, contrasting with a 2% rise in the industry, primarily due to an uncertain macroeconomic environment [8]. - The company faces inflationary pressures, increased energy costs, and elevated prices in food, beverage, and rooms, impacting operational costs [8][9]. - Economic uncertainties, including inflation, high interest rates, and geopolitical tensions, may negatively affect travel, tourism, and consumer spending [9].

Group 1 - The company Red Rock Resorts, Inc. (NASDAQ: RRR) was identified as a bullish investment opportunity in early December 2021 [1] - Crude Value Insights focuses on the oil and natural gas sector, emphasizing cash flow and the potential for value and growth in companies that generate it [1] - The service offers subscribers access to a stock model account, detailed cash flow analyses of exploration and production firms, and live discussions about the sector [2]

Financial Performance - Net revenues for the year ended December 31, 2024 increased by $214.9 million to $1.94 billion, a 12.5% increase compared to 2023[252] - Operating income for 2024 was $568.7 million, up 1.8% from $558.7 million in 2023, primarily driven by the new Durango property[253] - Casino revenues increased by 12.8% to $1.28 billion, with slot handle up 9.5% and table games drop up 41.4% compared to 2023[254] - Food and beverage revenues rose by 14.9% to $360.4 million, with an average guest check increase of 10.4% and restaurant guests served up by 8.6%[255] - Room revenues increased by 9.5% to $200.5 million, with occupancy at 87.8% and average daily rate at $204.00[256] - Adjusted EBITDA for 2024 was $795.9 million, up from $745.9 million in 2023, reflecting improved operating performance[267] - Net income attributable to Red Rock decreased by 12.5% to $154.1 million compared to $176.0 million in 2023[251] Expenses and Liabilities - Selling, general and administrative expenses increased by 15.4% to $432.3 million, primarily due to costs associated with the Durango property opening[258] - Depreciation and amortization expenses rose to $187.1 million, a 41.2% increase from $132.5 million in 2023, mainly due to Durango's assets[260] - Interest expense, net for 2024 was $228.8 million, a 26.4% increase from $181.0 million in 2023, attributed to increased borrowings[262] - The company had a net loss of $34.6 million for the year ended December 31, 2024, primarily due to income tax provisions[272] - Obligations under the TRA totaled $20.4 million as of December 31, 2024, with future payments expected to be substantial[283] Cash Flow and Capital Expenditures - For the year ended December 31, 2024, net cash provided by operating activities was $548.3 million, compared to $494.3 million for 2023, reflecting an increase due to the Durango property and changes in working capital[288] - Cash paid for capital expenditures in 2024 totaled $283.9 million, a decrease from $699.5 million in 2023, with expenditures primarily related to renovation projects[289] - The company paid $118.4 million in dividends to Class A common stockholders and $126.7 million in cash distributions to noncontrolling interest holders in 2024[290] Debt and Financing - Station LLC entered into a new senior secured term loan facility of $1.57 billion and a new revolving credit facility of $1.1 billion on March 14, 2024[275] - The company issued $500.0 million in aggregate principal amount of 6.625% Senior Notes due 2032 on March 14, 2024[278] - The company expects cash requirements for 2025 to include approximately $375.0 million to $425.0 million for capital expenditures and $52.9 million for principal payments on indebtedness[280] - At December 31, 2024, $1.7 billion of borrowings under credit agreements were based on variable rates, primarily SOFR, with a potential annual interest cost increase of approximately $17.1 million for a 1% rise in rates[281] - The company expects to fund capital requirements through a combination of cash generated from operations, borrowings, and issuance of debt or equity as market conditions permit[285] Shareholder Actions - On February 11, 2025, the company announced a quarterly cash dividend of $0.25 per share of Class A common stock, to be paid on March 31, 2025[282] - The company repurchased 75,000 shares of Class A common stock at a weighted-average price of $52.29 per share during the year ended December 31, 2024, with $309.0 million remaining authorized for repurchases[284] - The board of directors authorized $600.0 million for repurchases of Class A common stock, with $309.0 million remaining for future repurchases as of December 31, 2024[284] Assets and Intangible Assets - As of December 31, 2024, the Holding Company had cash of $4.2 million, deferred tax assets of $56.4 million, and a note receivable from Station LLC of $53.9 million[271] - The carrying amount of property and equipment was approximately $2.8 billion, representing 68.8% of total assets[303] - Goodwill totaled $195.7 million, with approximately 87% associated with one property[304] - Indefinite-lived intangible assets amounted to $76.5 million as of December 31, 2024[308] - The company had outstanding letters of credit and similar obligations totaling $47.3 million as of December 31, 2024[294] Regulatory and Taxation Matters - The company is subject to extensive regulation by gaming authorities in Nevada and other jurisdictions, impacting operational compliance[296] - The gaming industry is a significant source of tax revenue for the State of Nevada, with no current proposals to increase taxes on gaming revenue[297] - The company is taxed as a corporation and pays federal, state, and local taxes on income allocated by Station Holdco, which operates as a partnership[313] - Deferred tax assets and liabilities are recognized based on differences between book value and tax value, with realization depending on sufficient taxable income[314] - A valuation allowance is recorded if it is more likely than not that some portion of a deferred tax asset will not be realized, with annual comprehensive analysis performed[315] - Uncertain tax positions are recorded based on a two-step process, determining if the positions are likely to be sustained and recognizing the largest amount of tax benefit that is more than 50% likely to be realized[316] - The company does not anticipate needing to record a significant liability for unrecognized tax benefits within the next twelve months[317] Legal Matters - The company is involved in various lawsuits and assesses the potential for losses, accruing liabilities when a loss is probable and can be reasonably estimated[312] - The company incurred costs associated with Native American development agreements, which are recognized as long-term assets and are dependent on the success of the projects[310]

Core Insights - Red Rock Resorts, Inc. (RRR) reported fourth-quarter 2024 results with earnings and revenues exceeding the Zacks Consensus Estimate, although the bottom line declined year over year [1][2]. Financial Performance - Adjusted earnings per share (EPS) for Q4 2024 were 76 cents, surpassing the Zacks Consensus Estimate of 42 cents, down from 95 cents in the prior-year quarter [2]. - Quarterly revenues reached $495.7 million, exceeding the consensus mark of $490 million by 1.3%, and increased by 7.1% year over year [3]. - Las Vegas operations generated revenues of $492.6 million, a 7.2% increase from $459.4 million in the prior-year quarter, with adjusted EBITDA at $223.9 million, up 1.6% year over year [4]. Operating Highlights - Selling, general and administrative expenses were $107.1 million, compared to $96.7 million in the prior-year quarter, while net income was $87.7 million, down from $108.9 million in the previous year [5]. - Adjusted EBITDA for the third quarter was $202.4 million, slightly up from $201.3 million in the prior-year quarter [6]. Cash and Debt Position - As of December 31, 2024, RRR had cash and cash equivalents of $164.4 million, an increase from $117.5 million as of September 30, 2024, with outstanding debt at $3.4 billion, down from $3.5 billion in the previous quarter [7]. Annual Performance - Total revenues for 2024 were $1.94 billion, up from $1.72 billion in 2023, while net income decreased to $291.3 million from $337.8 million in 2023, and diluted EPS fell to $2.53 from $2.94 [8].