Wynn Resorts Q1 EPS $1.59, Beats Estimates with Strong Macau Sales

May 7, 2024, 09:15 PM

Wynn Resorts reported a significant increase in its first-quarter earnings for 2024, with operating revenues reaching $1.86 billion, up from $1.42 billion in the same period last year, and surpassing sales estimates of $1.790 billion. The company's diluted net income per share was $1.30, compared to a net loss in the previous year. Adjusted earnings per share (EPS) were $1.59, surpassing analysts' expectations of $1.27. The growth was primarily attributed to strong performance in its Macau operations, which saw increased demand in gaming, luxury retail, and hotel bookings. Additionally, Wynn Resorts achieved an adjusted property EBITDAR of $646.5 million during the quarter.