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Sep 30, 2024
Monarch Q4 2024 Earnings Report
Monarch Casino & Resort reported record financial results for the fourth quarter and full year ended December 31, 2024.
Key Takeaways
Monarch Casino & Resort achieved record financial results in Q4 2024, with net revenue increasing by 4.9% and net income surging by 40.1% year-over-year. Adjusted EBITDA also saw a significant rise of 9.9%, demonstrating strong operational performance and effective cost management.
Record fourth quarter net revenue of $134.5 million, up 4.9% year-over-year.
Net income increased by 40.1% to $25.495 million, driven by a lower effective tax rate and reduced legal costs.
Adjusted EBITDA grew by 9.9% to $47.280 million, resulting in a record fourth quarter EBITDA margin of 35.1%.
Diluted EPS rose by 46.2% to $1.36, reflecting strong profitability.
Monarch
Monarch
Monarch Revenue by Segment
Revenue by Segment
Casino Revenue
CapyFin.comFood & Beverage Revenue
CapyFin.comHotel Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Monarch Casino & Resort anticipates continued investment in its properties, including the completion of hotel room renovations at Atlantis by Q2 2025, and is evaluating potential M&A transactions to drive long-term stockholder value. The company expects to maintain its dividend payments, supported by a strong balance sheet and free cash flow.
Positive Outlook
- Continuing strength of the balance sheet and expected free cash flow.
- Expectations regarding continuing dividend payments in the future.
- Anticipated completion of room renovations at the Atlantis by Q2 2025.
- Belief in the positive impact of capital investment strategy on long-term success.
- Evaluation of potential strategic transactions to drive additional long-term value for stockholders.
Challenges Ahead
- Adverse impacts of outbreaks of contagious diseases on business, financial condition, and operating results.
- Actions taken by government officials related to disease containment, including shutdowns and travel restrictions.
- Ability to manage guest safety concerns in connection with contagious disease outbreaks.
- Construction factors, including delays, disruptions, increased costs, and contractor disagreements.
- Ongoing litigation and counterclaims with the general contractor of Monarch Black Hawk, PCL Construction Services, Inc.
Revenue & Expenses
Visualization of income flow from segment revenue to net income