Caesars Entertainment (CZR) Q3 FY2023 earnings: revenue $3.0 billion, up 3.7% on the year

Caesars Entertainment, Inc. (CZR) reported revenue of $3.0 billion for Q3 FY2023, the quarter ended 30 September 2023, up 3.7% on the same quarter a year earlier. Net income was $74 million, up 42.3% on the year, and diluted earnings per share $0.34. The figures are the company's own, from the 10-Q it filed with the SEC on 31 October 2023.

Revenue$3.0 billionup 3.7%

Net income$74 millionup 42.3%

Diluted EPS$0.34

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	2,994	n/a	n/a	n/a
Operating income	724	n/a	n/a	n/a
Operating margin	24.2%	n/a	n/a
Interest expense	597	n/a	n/a	n/a
Pre-tax income	139	n/a	n/a	n/a
Income tax	47.0	n/a	n/a	n/a
Effective tax rate	33.8%	n/a	n/a
Net income	74.0	n/a	n/a	n/a
Net margin	2.5%	n/a	n/a
Diluted EPS	$0.34	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	348	n/a	n/a	n/a
Capital expenditure	322	n/a	n/a	n/a
Free cash flow	26.0	n/a	n/a	n/a
Free cash flow margin	0.9%	n/a	n/a
Cash from investing	-337	n/a	n/a	n/a
Cash from financing	-323	n/a	n/a	n/a
Depreciation and amortisation	320	n/a	n/a	n/a
Share-based compensation	26.0	n/a	n/a	n/a
Diluted shares, weighted	216m	n/a	n/a	n/a
Shares outstanding at period end	216m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	4,604	n/a	n/a	n/a
Non-controlling interest	138	n/a	n/a	n/a
Debt	12,455	n/a	n/a	n/a
Finance lease liabilities	12,725	n/a	n/a	n/a
Other liabilities	3,307	n/a	n/a	n/a
Total liabilities and equity	33,229	n/a	n/a	n/a
Goodwill	11,004	n/a	n/a	n/a
Intangible assets	4,640	n/a	n/a	n/a
Cash and equivalents	841	n/a	n/a	n/a
Receivables	555	n/a	n/a	n/a
Inventory	45.0	n/a	n/a	n/a
Other assets	16,144	n/a	n/a	n/a
Total assets	33,229	n/a	n/a	n/a

Questions

What was Caesars Entertainment's revenue in Q3 FY2023?

Caesars Entertainment (CZR) reported revenue of $3.0 billion for Q3 FY2023, the quarter ended 30 September 2023, up 3.7% on the same quarter a year earlier.

How much did Caesars Entertainment earn in Q3 FY2023?

Net income for Q3 FY2023 was $74 million, up 42.3% on the year, and diluted earnings per share $0.34.

When did Caesars Entertainment report Q3 FY2023 results?

Caesars Entertainment filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 31 October 2023.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	2,994	2,825	2,742	2,830	2,874	2,799	2,794	2,907	2,869	2,916	2,870	2,993
Operating income	724	536	485	506	644	669	488	526	513	331	500	513
Operating margin	24%	19%	18%	18%	22%	24%	17%	18%	18%	11%	17%	17%
Interest expense	597	596	607	614	616	601	582	587	582	578	572	577
Pre-tax income	139	-40.0	-127	-92.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Tax rate	34%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	74.0	-72.0	-158	-122	-9.0	11.0	-115	-82.0	-55.0	-250	-98.0	-62.0
Net margin	2%	-3%	-6%	-4%	-0%	0%	-4%	-3%	-2%	-9%	-3%	-2%
Diluted EPS	$0.34	-$0.34	-$0.73	-$0.56	-$0.04	$0.05	-$0.54	-$0.39	-$0.27	-$1.23	-$0.48	-$0.30
Operating cash flow	348	508	80.0	454	232	309	218	462	318	304	204	471
Capital expenditure	322	369	264	329	424	279	223	230	195	157	168	167
Free cash flow	26.0	139	-184	125	-192	30.0	-5.0	232	123	147	36.0	304
Buybacks	n/a	n/a	n/a	n/a	141	n/a	n/a	n/a	79.0	n/a	n/a	n/a
Shares outstanding	216m	216m	216m	216m	212m	211m	208m	208m	204m	203m	204m	204m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 31 October 2023, accession 0001590895-23-000122: the filing on EDGAR. All of Caesars Entertainment, Inc.'s filings: EDGAR company page.

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