Red Rock Resorts (RRR) Surpasses Q1 Earnings and Revenue Estimates

Core Viewpoint - Red Rock Resorts reported strong quarterly earnings, significantly surpassing consensus estimates, indicating robust financial performance and potential for future growth [1][2]. Financial Performance - The company achieved earnings of $0.80 per share, exceeding the Zacks Consensus Estimate of $0.47 per share, and up from $0.68 per share a year ago, representing a 70.21% earnings surprise [1]. - Revenues for the quarter reached $497.86 million, surpassing the Zacks Consensus Estimate by 0.82%, and increased from $488.9 million year-over-year [2]. Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.42, with projected revenues of $488.53 million, while the estimate for the current fiscal year is $1.67 on $1.95 billion in revenues [7]. - The estimate revisions trend for Red Rock Resorts is favorable, contributing to a Zacks Rank 2 (Buy) for the stock, suggesting expected outperformance in the near future [6]. Industry Context - The Gaming industry, to which Red Rock Resorts belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable environment for stock performance [8]. - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5].