Wynn Resorts Ltd. (WYNN.O) Surpasses Expectations with Stellar Q1 Earnings and Strong Growth in Maca

Key Points

• Wynn Resorts Ltd. (WYNN) reported a Q1 profit of $144.2 million, significantly higher than the previous year.
• Revenue increased to $1.86 billion, with strong contributions from operations in Macau.
• Despite excellent financial performance, the stock price reaction was relatively subdued.

In this news

Wynn Resorts Ltd. (WYNN) has once again exceeded market expectations with its impressive first-quarter financial results, announced recently. The Las Vegas-based casino giant reported a substantial profit of $144.2 million, or $1.30 per share, a significant leap from the $12.3 million recorded in the same period last year. This performance surpasses the analysts' expectations surveyed by FactSet, who had anticipated a per-share profit of $1.25.

The company's revenue also saw a remarkable increase, totaling $1.86 billion for the quarter, up from $1.42 billion in the previous year. This growth was driven by strong performances across all segments, particularly in Macau, where the company has been focusing its recovery efforts. CEO Craig Billings highlighted the strong momentum in the business, citing record Adjusted Property EBITDAR and expressing optimism about the company's future growth prospects.

Despite these strong results, the market reaction was somewhat muted, with shares rising by only 2% in after-hours trading. Analysts suggest that while the results are impressive, the stock remains undervalued, presenting a potential opportunity for investors. Looking forward, Wynn Resorts Ltd. (WYNN) remains confident in its long-term success, driven by ongoing developments and a robust recovery in key markets.