Wynn Resorts (WYNN) Q3 Earnings and Revenues Miss Estimates

Core Viewpoint - Wynn Resorts reported quarterly earnings of $0.90 per share, missing the Zacks Consensus Estimate of $1.17 per share, representing a -23.08% earnings surprise [1] - The company posted revenues of $1.69 billion for the quarter ended September 2024, which was 2.39% below the Zacks Consensus Estimate [2] Financial Performance - Earnings for the same quarter last year were $0.99 per share, indicating a decline in earnings year-over-year [1] - The company has surpassed consensus EPS estimates two times over the last four quarters [2] - Revenue for the same quarter last year was $1.67 billion, showing a slight increase in revenue year-over-year [2] Market Performance - Wynn shares have increased by approximately 5% since the beginning of the year, while the S&P 500 has gained 20.1% [3] - The stock is currently rated Zacks Rank 5 (Strong Sell), indicating expectations of underperformance in the near future [6] Future Outlook - Current consensus EPS estimate for the upcoming quarter is $1.56 on revenues of $1.84 billion, and for the current fiscal year, it is $5.42 on revenues of $7.17 billion [7] - The gaming industry is currently ranked in the bottom 39% of Zacks industries, which may negatively impact stock performance [8] Industry Context - The performance of Wynn Resorts is influenced by the overall outlook of the gaming industry, which is currently underperforming compared to the top 50% of Zacks-ranked industries [8] - Another industry player, PENN Entertainment, is expected to report a quarterly loss of $0.28 per share, with a significant downward revision in EPS estimates [9]