Factors Setting the Tone for Wynn Resorts' (WYNN) Q1 Earnings - Trade Oracle

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Factors Setting the Tone for Wynn Resorts’ (WYNN) Q1 Earnings

On May 9, 2023, Wynn Resorts, Limited (WYNN) is set to report its first-quarter 2023 earnings after the closing bell. Last quarter, the company experienced a negative earnings surprise of 5.1%.

How Are Estimates Placed?

The Zacks Consensus Estimate predicts a loss of 18 cents per share for the first quarter, indicating an improvement of 85.1% from a loss of $1.21 reported in the year-ago quarter. The consensus mark for revenues is nearly $1,254 million, suggesting an improvement of 31.6% from the year-ago quarter’s figure.

Factors to Note

Wynn Resorts’ performance in the first quarter is likely to benefit from sports-betting expansion, non-gaming revenue-boosting strategies, and marketing initiatives. Increased visitation in the Las Vegas market, improved bookings, and a strong recovery in the Macau region due to easing of restrictions are also expected to contribute to the company’s performance. Revenues from Las Vegas operations may rise 50.2% YoY to $662.7 million in the first quarter. Strong contributions from Encore Boston Harbor may further aid the company’s first-quarter top line.

What the Zacks Model Unveils

The Zacks model predicts an earnings beat for Wynn Resorts this time around. With an Earnings ESP of +105.69% and a Zacks Rank #2, the company has a positive chance of delivering a strong performance.

Other Stocks Poised to Beat Earnings Estimates

Apart from Wynn Resorts, other consumer discretionary stocks may also post an earnings beat this quarter. PlayAGS, Inc. (AGS) has an Earnings ESP of +36.17% and sports a Zacks Rank #2. Choice Hotels International, Inc. (CHH) has an Earnings ESP of +11.89% and a Zacks Rank #3. DISH Network Corporation (DISH) has an Earnings ESP of +21.55% and a Zacks Rank #3.

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