Monarch Casino & Resort(MCRI) - 2024 Q4 - Annual Results

Financial Performance - Fourth quarter net revenue reached $134.5 million, a 4.9% increase from $128.2 million in Q4 2023[1] - Net income for the fourth quarter increased by 40.1% to $25.5 million, compared to $18.2 million in the same period last year[1] - Adjusted EBITDA for Q4 2024 was $47.3 million, reflecting a 9.9% increase from $43.0 million in Q4 2023[1] - Basic earnings per share rose to $1.39, a 47.9% increase from $0.94 in Q4 2023[1] - Net income for Q4 2024 was $25,495,000, an increase of 40.5% compared to $18,202,000 in Q4 2023[23] - Adjusted EBITDA for Q4 2024 reached $47,280,000, up 9.6% from $43,003,000 in Q4 2023[23] - Basic earnings per share for Q4 2024 was $1.39, compared to $0.94 in Q4 2023, reflecting a 47.8% increase[23] - Diluted earnings per share for the full year 2024 was $4.96, up from $4.20 in 2023, an increase of 18.1%[23] Revenue Breakdown - Casino revenue increased by 6.0% to $77.1 million in Q4 2024, while hotel revenue grew by 8.3% to $18.2 million[5] Expenses and Costs - Selling, general and administrative expenses decreased to $27.8 million, down from $28.7 million in Q4 2023, representing 20.7% of net revenue[6] - The company reported stock-based compensation expenses of $2,275,000 for Q4 2024, slightly down from $2,580,000 in Q4 2023[23] Capital Expenditures - Capital expenditures in Q4 2024 totaled $10.7 million, funded from operating cash flow, primarily for hotel room upgrades[8] Shareholder Returns - The company declared a cash dividend of $0.30 per share, payable on March 15, 2025, as part of an annual dividend of $1.20 per share[10] Strategic Initiatives - Monarch is evaluating potential M&A transactions to drive long-term value for shareholders[9] - The company anticipates completing the final phase of hotel room renovations at Atlantis by the second quarter of 2025[4] Asset and Equity Growth - Total current assets increased to $90,422,000 in 2024 from $74,966,000 in 2023, reflecting a growth of 20.5%[21] - Cash and cash equivalents rose to $58,760,000 in 2024, compared to $43,361,000 in 2023, marking a 35.5% increase[21] - Total assets grew to $691,583,000 in 2024, up from $680,873,000 in 2023, indicating a 1.0% increase[22] - Stockholders' equity increased to $539,032,000 in 2024 from $513,140,000 in 2023, representing a growth of 5.1%[22] - Total liabilities decreased to $152,551,000 in 2024 from $167,733,000 in 2023, a reduction of 9.0%[22]