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Mar 31, 2023
Red Rock Resorts Q1 2023 Earnings Report
Red Rock Resorts reported an increase in net revenues and adjusted EBITDA, but a decrease in net income for the first quarter of 2023.
Key Takeaways
Red Rock Resorts announced its Q1 2023 financial results, revealing an 8.0% increase in net revenues to $433.6 million and an 8.6% increase in Adjusted EBITDA to $194.2 million compared to the same period in 2022. However, net income decreased by 7.3% to $85.5 million.
Net revenues increased by 8.0% to $433.6 million compared to Q1 2022.
Net income decreased by 7.3% to $85.5 million compared to Q1 2022.
Adjusted EBITDA increased by 8.6% to $194.2 million compared to Q1 2022.
Las Vegas operations net revenues increased by 7.6% to $430.0 million compared to Q1 2022.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The press release contains forward-looking statements that are subject to risks and uncertainties.
Challenges Ahead
- Impact of rising inflation, higher interest rates and increased energy costs on consumer demand and the Company's business, financial results and liquidity
- Impact of unemployment and changes in general economic conditions on discretionary spending and consumer demand
- Impact of our substantial indebtedness
- Effects of local and national economic, credit and capital market conditions on consumer spending and the economy in general, and on the gaming and hotel industries in particular
- Effects of competition, including locations of competitors and operating and market competition
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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