Caesars Entertainment (CZR) reported revenue of $2.99 billion for the quarter ended September 2023, up 3.7% year over year. Earnings per share for the same period were $0.34, compared to $0.24 a year ago.
The reported revenue represents a surprise of +2.79% versus the Zacks Consensus Estimate of $2.91 billion. Since the consensus EPS estimate was $0.27, the EPS surprise was + 25.93%.
As investors closely scrutinize year-over-year sales and earnings changes and how they compare to Wall Street’s expectations to determine their next move, some key metrics always provide a more accurate picture of a company’s financial health.
Since these key figures influence sales and profit development, a comparison with the previous year’s figures and analysts’ estimates helps investors to predict the price development of a stock more accurately.
Here’s how Caesars Entertainment performed in the just-reported quarter in terms of the metrics most commonly watched and predicted by Wall Street analysts:
- Las Vegas – Hotel occupancy: 96.6% versus two analysts’ average estimate of 95.8%.
- Las Vegas – Table Game Drop: $840 million versus two analysts’ average estimate of $896.07 million.
- Caesars Digital – iGaming Handle: $2.47 billion versus two analysts’ average estimate of $2.38 billion.
- Las Vegas – Slot Handle: $2.72 billion versus an average of $2.68 billion estimated by two analysts.
- Net Sales – Caesars Digital: $215 million versus six analysts’ average estimate of $224.84 million. The reported figure represents a change of +1.4% compared to the previous year.
- Net sales – regional: $1.57 billion versus an average of $1.52 billion estimated by six analysts. Compared to the same quarter last year, this figure represents a change of +2.3%.
- Net Sales – Las Vegas: $1.12 billion versus six analysts’ average estimate of $1.10 billion. The reported figure represents a change of +4% compared to the previous year.
- Net Revenue – Managed and Branded: $45 million versus an average of $73.23 million estimated by six analysts.
- Net Income – Corporate and Other: -$4 million versus five analysts’ average estimate of $2.21 million. The reported number represents a +100% change from the previous year.
- Net Income – Other: $378 million versus an average of $330.12 million estimated by two analysts. Compared to the same quarter last year, this figure represents a change of +15.6%.
- Net Sales – Hotel: $553 million compared to the average estimate of $525.58 million based on two analysts. The reported figure represents a change of +1.7% year-on-year.
- Net Income – Casino: $1.62 billion versus two analysts’ average estimate of $1.63 billion. The reported figure represents a change of +0.9% compared to the previous year.
You can find all important company figures for Caesars Entertainment here>>>
Shares of Caesars Entertainment have returned -14.5% over the past month, while the Zacks S&P 500 Composite has seen a change of -2.8%. The stock currently has a Zacks Rank #2 (Buy), which suggests it could outperform the broader market in the near term.
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