Wynn Resorts (WYNN) Lags Q2 Earnings and Revenue Estimates

Company Performance - Wynn Resorts reported quarterly earnings of $1.12 per share, missing the Zacks Consensus Estimate of$ 1.23 per share, but showing an increase from $0.91 per share a year ago, representing an earnings surprise of -8.94% [1] - The company posted revenues of$ 1.73 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.91%, compared to year-ago revenues of $1.6 billion [1] - Over the last four quarters, Wynn has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [1] Stock Performance - Wynn shares have declined approximately 19.3% since the beginning of the year, contrasting with the S&P 500's gain of 8.7% [2] - The current status of estimate revisions for Wynn is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is$ 1.15 on revenues of $1.76 billion, and for the current fiscal year, it is$ 5.62 on revenues of $7.24 billion [4] - The sustainability of the stock's immediate price movement will largely depend on management's commentary during the earnings call [2][3] Industry Context - The Gaming industry, to which Wynn belongs, is currently in the top 33% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5] - Another company in the same industry, PlayAGS, is expected to report quarterly earnings of$ 0.11 per share, reflecting a year-over-year change of +450%, with revenues projected at $95.5 million, up 6.3% from the previous year [5]