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What’s up with Caesars Entertainment’s (CZR) Q4 earnings? – February 20, 2023

What’s up with Caesars Entertainment’s (CZR) Q4 earnings? – February 20, 2023

Caesars Entertainment (Czech Republic free report) program report Fourth Quarter 2022 Results February 21, 2023, after the closing bell. In the last reported quarter, the company delivered a 60% windfall.

Trend in Estimate Revisions

The Zacks Consensus Estimate for the bottom line for the fourth quarter is for a loss of 18 cents per share, suggesting an improvement of 84.2% from the loss of $1.14 reported in the same period last year.

For revenue, the consensus estimate is about $2.817 billion, up 8.9% from the figure reported in the same period last year.

Let’s see how this quarter plays out.

Factors to be aware of

Caesars Entertainment’s fourth-quarter results likely benefited from pent-up demand, retail sportsbook expansion and real estate development plans. That, along with improving group and convention trends in Las Vegas and a resurgence in international travel, likely helped the company’s fourth-quarter results. During its last quarterly earnings call, the company revealed that Las Vegas had an occupancy rate of 94%. In addition, it said group room nights exceeded 2019 levels. This momentum is likely to continue in the fourth quarter as international consumers return and traditional demand accelerates. The Zacks Consensus Estimate for fourth-quarter Las Vegas revenue and regional revenue is $1.124 billion and $1.386 billion, up 8.1% and 1.6% from the year-ago period, respectively.

An emphasis on digital through aggressive customer acquisition and improvements to its in-app merger technology likely drove fourth-quarter revenue. The Zacks Consensus Estimate for Caesars Digital’s fourth-quarter revenue is pegged at $247 million, up 112.9% from the $116 million reported in the year-ago period.

However, increased investments in digital business (regarding product enhancements), competitive pricing strategy and lower holdings in some markets may affect the company’s fourth-quarter performance. Higher utility expenses could impact margins in the to-be-reported quarter.

What the Zacks Model Reveals

Our proven model doesn’t conclusively predict Caesars Entertainment’s earnings beat this time around.A Stock Needs to Have a Positive Side EarningsESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to outperform earnings. But that’s not the case here.

Earnings ESP: Caesars Entertainment has an earnings ESP of -115.56%.You can discover the best stocks to buy and sell before we report them to us Earnings ESP Filter.

ranking: The company has a Zacks Rank #3.you can see The full list of today’s Zacks #1 Rank stocks is here.

Stocks Poised to Beat Earnings Estimates

Here are some other Zacks stocks Consumer Discretionary Spaces that investors might consider, as our modeling suggests these have the right mix of elements to post earnings.

OneSpaWorld Holdings Limited (or free report) has an Earnings ESP of +6.67% and a Zacks Rank #1.

Shares of OneSpaWorld have risen 7.3% over the past year. OSW’s earnings beat the consensus in each of the trailing four quarters, with an average surprise of 84.2%.

Monarch Casino & Resort, Inc. (MCRI free report) has an Earnings ESP of +4.12% and a Zacks Rank #3.

Shares of Monarch Casino have risen 6.2% over the past year. MCRI has beaten consensus earnings estimates in all of the past four quarters, with an average surprise of 3.7%.

Planet Fitness (PLNT free report) has an Earnings ESP of +2.53% and a Zacks Rank #3.

Shares of Planet Fitness have fallen 16.3% over the past year. PLNT’s earnings have beaten consensus estimates in each of the past four quarters, with an average surprise of 6.6%.

Stay informed about upcoming earnings announcements Zacks Earnings Calendar.

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