- Red Rock Resorts ( RRR ) fell ~8% pre-market on reduced Y/Y Q2 earnings.
- Q2 GAAP EPS of $0.26 (vs. $1.12 Y/Y) misses by $0.28, while revenue of $422.2M (-1.4% Y/Y) beats by $17.81M.
- Net income fell to $32.44M from the year-ago $143.35M.
- Adjusted EBITDA stood at $188.87M, down from $210.16M in the year-ago period.
- The cash and cash equivalents at Jun. 30 were $256.3M and total principal amount of debt outstanding at Q2-end was $2.88B.
- The company declared $0.25/share quarterly dividend, in line with previous.
- "We don't see anything at this point in time that would cause us to change our outlook on the business going forward," CEO Frank Fertitta said in response to analyst questions on Q3.
- For Q3, consensus EPS estimate is $0.52 and consensus revenue estimate is 407.46M.
- For FY22, consensus EPS estimate is $1.88 and consensus revenue estimate is $1.65B.
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Red Rock Resorts falls on reduced Q2 results