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Dec 31, 2022
Wynn Resorts Q4 2022 Earnings Report
Wynn Resorts reported a decrease in operating revenues but a rise in net income for Q4 2022.
Key Takeaways
Wynn Resorts' Q4 2022 results showed a slight decrease in operating revenues compared to Q4 2021, but the company swung to net income attributable to Wynn Resorts, Limited, compared to a net loss in the same period last year. The North American properties achieved a new fourth-quarter record for Adjusted Property EBITDAR.
Operating revenues decreased to $1.00 billion for the fourth quarter of 2022, from $1.05 billion for the fourth quarter of 2021.
Net income attributable to Wynn Resorts, Limited was $32.4 million, or $0.29 per diluted share, for the fourth quarter of 2022, compared to a net loss of $177.2 million, or $1.54 per diluted share, for the fourth quarter of 2021.
Adjusted Property EBITDAR was $195.1 million for the fourth quarter of 2022, compared to $149.1 million for the fourth quarter of 2021.
Wynn Las Vegas and Encore Boston Harbor delivered a new fourth-quarter record for Adjusted Property EBITDAR at the combined North American properties.
Revenue by Segment
Forward Guidance
This release contains forward-looking statements regarding operating trends and future results of operations. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those we express in these forward-looking statements
Challenges Ahead
- Adverse macroeconomic conditions and their impact on levels of income and consumer discretionary spending
- Changes in interest rates
- Inflation
- A decline in general economic activity or recession in the U.S. and/or global economies
- The COVID-19 pandemic and the reimposition of restrictions on the general public or certain activities
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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