LONDON, UK / ACCESSWIRE / December 21, 2017 / Active-Investors.com has just released a free earnings report on Red Rock Resorts, Inc. (NASDAQ: RRR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=RRR . The Company posted its financial results on November 07, 2017, for the third quarter of the fiscal year 2017. The Company's revenue surpassed analysts' expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Red Rock Resorts most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the three months ended September 30, 2017, Red Rock Resorts' net revenues increased 15.3% to $400.37 million from $347.14 million in Q3 FY16, due to the addition of $37.9 million of net revenue from the Palms, a $13.3 million increase from same-store Las Vegas operations, and a $1.9 million increase from Native American operations. The Company's net revenue figures surpassed analysts' expectations of $393.14 million.
For the reported quarter, Red Rock Resorts' adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased 8.5% to $118.33 million from $109.02 million in Q3 FY16, to due to solid results from same-store Las Vegas operations, continued strength in Native American operations, and the addition of the Palms. For the reported quarter, the Company's adjusted EBITDA margin decreased 140 basis points to 30% of revenue from 31.4% of revenue in Q3 FY16.
For the reported quarter, Red Rock Resorts' operating income decreased 23.4% to $56.46 million from $73.35 million in Q3 FY16. For the reported quarter, the Company's operating margin decreased 700 basis points to 14.1% of revenue from 21.1% of revenue in Q3 FY16.
For the reported quarter, Red Rock Resorts' earnings before tax (EBT) decreased 35.5% to $24.67 million from $38.23 million in Q3 FY16. For the reported quarter, the Company's EBT margin decreased 480 basis points to 6.2% of revenue from 11% of revenue in Q3 FY16.
For the reported quarter, Red Rock Resorts' net income decreased 33.3% to $22.31 million from $33.44 million in Q3 FY16, due to an increase in write-downs and other charges. During Q3 FY17, the Company's diluted earnings per share (EPS) decreased 20% to $0.16 from $0.20 in the same period of last year. During Q3 FY17, the Company's adjusted diluted EPS was $0.19, and was in-line with analysts' expectations.
Segment Details
Las Vegas - During Q3 FY17, the Company's Las Vegas segment's net revenue increased 16.1% to $369.49 million from $318.25 million in the comparable period of last year. For the reported quarter, the segment's adjusted EBITDA increased 7.9% to $101.78 million from $94.32 million in Q3 FY16.
Native American Management - During Q3 FY17, the Company's Native American Management segment's net revenue increased 6.8% to $29.48 million from $27.60 million in the corresponding period of last year. For the reported quarter, the segment's adjusted EBITDA increased 17.2% to $25.34 million from $21.62 million in Q3 FY16.
Balance Sheet
As on September 30, 2017, Red Rock Resorts' cash and cash equivalents increased 66.3% to $222.43 million from $133.78 million as on September 30, 2016. For the reported quarter, the Company's long-term debt, less current portion, increased 8.9% to $2.59 billion from $2.38 billion in Q3 FY16.
For the reported quarter, the Company's net receivables decreased 3.9% to $41.83 million from $43.55 million in Q3 FY16. For the reported quarter, the Company's accounts payable decreased 30.3% to $21.42 million from $30.71 million in Q3 FY16.
In the first nine months of 2017, the Company's net cash provided by operating activities decreased 25.2% to $178.90 million from $239.05 million in the same period of last year.
Stock Performance Snapshot
December 20, 2017 - At Wednesday's closing bell, Red Rock Resorts' stock marginally fell 0.42%, ending the trading session at $33.43.
Volume traded for the day: 864.08 thousand shares, which was above the 3-month average volume of 708.16 thousand shares.
Stock performance in the last month - up 18.09%; previous three-month period - up 40.76%; past twelve-month period - up 44.78%; and year-to-date - up 44.16%
After yesterday's close, Red Rock Resorts' market cap was at $3.81 billion.
Price to Earnings (P/E) ratio was at 32.58.
The stock has a dividend yield of 1.20%.
The stock is part of the Services sector, categorized under the Rental & Leasing Services industry. This sector was up 0.1% at the end of the session.
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