Red Rock Resorts (RRR) Misses Q1 EPS by $1.19, Revenues Beat

Red Rock Resorts (NASDAQ: RRR) reported Q1 EPS of ($0.92), $1.19 worse than the analyst estimate of $0.27. Revenue for the quarter came in at $352.6 million versus the consensus estimate of $337.49 million.

First Quarter Results

• Net revenues were $352.6 million for the first quarter of 2021, a decrease of 6.6%, or $24.8 million, from $377.4 million for the same period of 2020, primarily due to the on-going impacts of the COVID-19 pandemic. Compared to the same period of 2019, net revenues were down 21.1% or $94.4 million from net revenue of $447.0 million.
• Net loss was $106.6 million for the first quarter of 2021, an improvement of $71.2 million, from a loss of $177.8 million for the same period of 2020. Compared to the same period of 2019, the net loss is a decrease of $126.8 million from net income of $20.3 million.
• Adjusted EBITDA(1) was $156.6 million for the first quarter of 2021, an increase of 110.8%, or $82.3 million, from $74.3 million in the same period of 2020. Compared to the same period of 2019, Adjusted EBITDA is up 8.0% or $11.6 million from $145.1 million.

For earnings history and earnings-related data on Red Rock Resorts (RRR) click here.

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