Wynn Resorts (NASDAQ:WYNN) Posts Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Key Points

• Wynn Resorts reported quarterly EPS of $0.33, missing the $0.52 consensus by $0.19, while revenue of $1.69 billion also fell short of the $1.75 billion estimate.
• Management cited a strong October and improving Las Vegas outlook, with F1, conventions, and NFL demand supporting the fourth quarter; Wynn Las Vegas RevPAR and ADR each rose 3%.
• Wynn Al Marjan Island remains on schedule to open in September 2027, but its budget increased by $600 million, with the company estimating $465 million to $590 million in remaining equity needs, including Janu.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) posted its earnings results on Thursday. The casino operator reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.19), Zacks reports. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.75 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.

Here are the key takeaways from Wynn Resorts' conference call:

• Wynn Las Vegas reported $158.8 million in adjusted property EBITDA, with unfavorable gaming hold reducing results by nearly $24 million and summer softness weighing on the quarter. RevPAR and ADR were each up 3%, while retail lease revenue rose 8%, suggesting demand remained resilient.
• Management said October was strong in Las Vegas and the fourth quarter is benefiting from F1, conventions, and the NFL season; F1 is pacing ahead of last year in rate and occupancy. Group and convention bookings for 2027 are also ahead of the pace for 2025 and 2026 at this point.
• Macau generated $255.3 million in adjusted property EBITDA, including a roughly $12.3 million benefit from above-theoretical VIP hold, but September was soft and volumes declined late in October. Wynn has started construction on the Enclave, theater, and event center, with openings planned for 2028 and early 2029.
• Wynn Al Marjan Island remains on schedule to open in September 2027, but the project budget was raised by $600 million and Wynn estimates its remaining equity requirement, including Janu, at $465 million to $590 million. Management said costs are substantially locked in while noting continued uncertainty from the regional conflict.
• The company reported $4 billion in global cash and revolver availability and continued shareholder returns, including $58.1 million in quarterly share repurchases and a $0.25-per-share dividend. Wynn Macau also approved a $150 million 2026 interim dividend, up from $125 million the prior year.

Wynn Resorts Trading Down 3.7%

Shares of WYNN stock traded down $3.06 during trading hours on Thursday, reaching $79.32. The stock had a trading volume of 3,752,787 shares, compared to its average volume of 1,726,056. The stock's fifty day simple moving average is $81.24 and its 200 day simple moving average is $98.00. The firm has a market capitalization of $8.17 billion, a PE ratio of 19.68, a PEG ratio of 0.95 and a beta of 0.96. Wynn Resorts has a 12 month low of $70.79 and a 12 month high of $134.72.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Wynn Resorts from $131.00 to $125.00 and set an "overweight" rating on the stock in a report on Monday, October 19th. UBS Group set a $120.00 price objective on Wynn Resorts in a research note on Tuesday, October 20th. Zacks Research raised shares of Wynn Resorts from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Wynn Resorts in a research note on Monday, September 21st. Finally, Citigroup lowered their target price on shares of Wynn Resorts from $135.00 to $103.00 and set a "buy" rating on the stock in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $124.88.

Wynn Resorts Company Profile

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.

Wynn Resorts was founded in 2002 by casino executive Steve Wynn.

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