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Caesars Entertainment (CZR) Reports Q3 Earnings: What Key Metrics Have to Say
CZRCaesars Entertainment(CZR) ZACKS·2024-10-29 22:31

Core Insights - Caesars Entertainment reported a revenue of 2.87billionforthequarterendedSeptember2024,reflectinga42.87 billion for the quarter ended September 2024, reflecting a 4% decline year-over-year and a surprise of -1.30% compared to the Zacks Consensus Estimate of 2.91 billion [1] - The company's EPS was -0.04,asignificantdropfrom0.04, a significant drop from 0.34 in the same quarter last year, resulting in an EPS surprise of -119.05% against the consensus estimate of 0.21[1]RevenuePerformance−NetRevenuesfromLasVegaswere0.21 [1] Revenue Performance - Net Revenues from Las Vegas were 1.06 billion, falling short of the 1.10billionestimate,representinga−5.21.10 billion estimate, representing a -5.2% change year-over-year [3] - Regional Net Revenues totaled 1.45 billion, compared to the 1.49billionaverageestimate,markinga−7.61.49 billion average estimate, marking a -7.6% decline year-over-year [3] - Caesars Digital reported Net Revenues of 303 million, exceeding the 274.25millionestimate,withanotableincreaseof+40.9274.25 million estimate, with a notable increase of +40.9% year-over-year [3] - Managed and Branded Net Revenues were 68 million, below the 73.50millionestimate,reflectinga−30.673.50 million estimate, reflecting a -30.6% change year-over-year [3] - Corporate and Other Net Revenues were reported at -5 million, better than the -0.62millionestimate,showingayear−over−yearimprovementof+250.62 million estimate, showing a year-over-year improvement of +25% [3] Adjusted EBITDA Performance - Adjusted EBITDA for Las Vegas was 472 million, slightly below the 475.77millionestimate[3]−RegionalAdjustedEBITDAwas475.77 million estimate [3] - Regional Adjusted EBITDA was 498 million, compared to the 512.73millionestimate[3]−CorporateandOtherAdjustedEBITDAreportedat−512.73 million estimate [3] - Corporate and Other Adjusted EBITDA reported at -40 million, close to the -41.87millionestimate[3]−CaesarsDigitalachievedanAdjustedEBITDAof41.87 million estimate [3] - Caesars Digital achieved an Adjusted EBITDA of 52 million, surpassing the 34.01millionestimate[3]−ManagedandBrandedAdjustedEBITDAwas34.01 million estimate [3] - Managed and Branded Adjusted EBITDA was 19 million, slightly above the $18.47 million estimate [3] Stock Performance - Over the past month, shares of Caesars Entertainment have returned +9.1%, outperforming the Zacks S&P 500 composite's +1.7% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [4]