Red Rock Resorts (NASDAQ:RRR) Posts Earnings Results, Beats Estimates By $0.17 EPS

29 Apr 2026, 21:46 by Doug Wharley · The Cerbat Gem

Red Rock Resorts (NASDAQ:RRR – Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17, FiscalAI reports. The business had revenue of $507.32 million during the quarter, compared to analyst estimates of $507.77 million. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share.

Here are the key takeaways from Red Rock Resorts’ conference call:

Red Rock delivered a strong first quarter with Las Vegas operations posting the highest Q1 net revenue and the second-highest Q1 adjusted EBITDA in company history, generating $107 million of operating free cash flow (50.3% conversion).
The Durango expansion is validating management’s strategy — the recent buildout is driving incremental play and management plans a $385 million Durango North expansion (opening summer 2027) to add ~275,000 sq ft and ~400 slots to fuel long‑term growth.
Consolidated adjusted EBITDA fell ~1.2% year‑over‑year and margins declined ~129 basis points, which management attributes largely to the Green Valley Ranch hotel renovation disruption, higher utilities and loss/damages, and expects additional Q2 disruption of about $9M at GVR plus $2M–$3M at Durango.
2026 capital plan and pipeline remain active — guidance is $375M–$425M capex (including major work at Durango, Sunset Station, GVR), North Fork remains fully financed and on track for an early Q4 2026 opening with an all‑in cost of ~$750M, and net debt stands at ~$3.4B with net leverage of 4.07x (management comfortable around ~4x).
Management prioritized shareholder returns, returning approximately $170.5M in the quarter via dividends and repurchases (repurchased ~635,000 shares), and declared the regular $0.26/share dividend payable June 30.

Red Rock Resorts Trading Up 1.0%

Shares of NASDAQ RRR traded up $0.53 during mid-day trading on Wednesday, hitting $56.06. The company’s stock had a trading volume of 1,260,731 shares, compared to its average volume of 815,547. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 2.42 and a beta of 1.48. The company has a debt-to-equity ratio of 10.26, a current ratio of 0.79 and a quick ratio of 0.74. Red Rock Resorts has a one year low of $41.83 and a one year high of $68.99. The company’s fifty day simple moving average is $57.67 and its 200-day simple moving average is $59.26.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, March 16th. Red Rock Resorts’s dividend payout ratio (DPR) is 33.23%.

Analyst Ratings Changes

A number of research analysts recently commented on RRR shares. Weiss Ratings lowered Red Rock Resorts from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, April 17th. Jefferies Financial Group cut their target price on Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, April 6th. JPMorgan Chase & Co. dropped their price target on shares of Red Rock Resorts from $76.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Citigroup reissued a “market outperform” rating on shares of Red Rock Resorts in a research report on Tuesday, March 10th. Finally, Barclays increased their price target on shares of Red Rock Resorts from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.64.

Get Our Latest Stock Analysis on RRR

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC bought a new stake in shares of Red Rock Resorts during the 4th quarter valued at $27,000. PNC Financial Services Group Inc. grew its position in shares of Red Rock Resorts by 98.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock worth $91,000 after buying an additional 733 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Red Rock Resorts during the 2nd quarter worth about $94,000. Russell Investments Group Ltd. grew its position in shares of Red Rock Resorts by 1,385.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,872 shares of the company’s stock worth $97,000 after buying an additional 1,746 shares during the period. Finally, Osaic Holdings Inc. grew its position in shares of Red Rock Resorts by 14.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,996 shares of the company’s stock worth $149,000 after buying an additional 387 shares during the period. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Company Profile

(Get Free Report)

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.