RRR earnings analysis
What we found in RRR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Red Rock Resorts reported Q1 2026 net revenues of $507.3 million, reflecting a modest year-over-year growth of 1.9%, while diluted EPS reached $0.73, exceeding the consensus estimate. Despite these results, operating income decreased by 6.9% primarily due to increased SG&A expenses and a notable drop in room revenues based on renovation disruptions.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Net revenues increased to $507.3 million, up 1.9% from $497.9 million in Q1 2025.
- EPS Surprise
- Diluted EPS rose to $0.73, beating estimates of $0.54 by 35.2%.
- Casino Revenue Increase
- Casino revenues increased 2.2% to $340.5 million, compared to $333.2 million last year.
- Operating Cash Flow Improvement
- Net cash from operating activities grew to $139.8 million from $126.2 million in Q1 2025.
- Free Cash Flow
- FCF for the quarter was reported at $39.6 million, down from $58 million in Q1 2025 due to increased capital expenditures.
- Native American Management Fees
- Revenue from Native American management fees amounted to $4.7 million, contributing to overall revenues.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decline in Room Revenues
- Room revenues fell 9.3% year-over-year from $50.17 million to $45.51 million, impacted by renovations.
- Increased SG&A Expenses
- SG&A expenses grew by 9.2%, totaling $114.4 million, up from $104.7 million in the prior period.
- Potential Economic Headwinds
- Management highlighted risks from inflation and rising interest rates affecting consumer spending.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.73
- Segment
- Las Vegas Operations
- Segment
- Native American Management
What they said about what is next.
No numeric guidance was provided for future periods.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 20, 2026
- Red Rock positions itself as a locally-focused, asset-light operator of Las Vegas regional casinos emphasizing operational discipline, customer loyalty and master-planned expansions (Durango). For 2025 the company…
- 10-Q · November 6, 2025
- Red Rock reported Q3 net revenues of $475,572 (amounts in thousands) and diluted Class A EPS of $0.68. Results show modest year-over-year top-line and EPS improvement, stable operating income of $131,484 and strong…
- 10-Q · May 8, 2025
- Red Rock Resorts reported net revenues of $497,861,000 and operating income of $154,353,000 for the three months ended March 31, 2025, producing diluted Class A EPS of $0.75. Revenues and EPS were up versus the year-ago…
- 10-Q · May 9, 2024
- Q1 net revenue of $488.9M (+$55.3M, +12.7% vs. Q1 2023) and operating income of $155.5M (+$18.2M, +13.3% YoY). All major revenue segments grew YoY (Casino, Food & Beverage, Rooms, Other). Operating cash flow was strong…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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