Wynn Resorts Q3 Earnings Highlights: Revenue Beat, EPS Beat, Macau Recovery, New UAE Resort Under Construction
Portfolio Pulse from Chris Katje
Wynn Resorts reported Q3 operating revenue of $1.67 billion, up from $889.7 million in the prior year's period, beating the Street consensus estimate of $1.585 billion. Adjusted earnings per share were 99 cents, beating the Street consensus estimate of 75 cents per share. The company ended the quarter with $2.79 billion in cash and cash equivalents and had total debt of $11.79 billion. Wynn Resorts bought back 596,948 shares of its stock at an average of $94.11 for a total cost of $56.2 million in Q3. The company is constructing a new resort in the UAE, expected to open in 2027.
November 09, 2023 | 9:41 pm
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Wynn Resorts reported strong Q3 results, beating revenue and EPS estimates. The company is also investing in a new resort in the UAE, indicating future growth potential.
Wynn Resorts' strong Q3 results, beating both revenue and EPS estimates, indicate a positive financial performance. The company's investment in a new resort in the UAE shows a commitment to future growth. These factors could positively impact the company's stock in the short term.
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RELEVANCE 100