Red Rock Resorts (RRR) FY2020 results: revenue $1.2 billion, down 36.3% on the year
Red Rock Resorts, Inc. (RRR) reported revenue of $1.2 billion for fiscal 2020, the year ended 31 December 2020, down 36.3% on the year before. Net income was -$150 million, and diluted earnings per share $-2.13. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$1.2 billion
-36.3% on the year
FY2014FY2020
Operating margin
7.5%
10.0% a year earlier
FY2014FY2020
Net income
-$150 million
FY2014FY2020
Diluted EPS
-$2.13
FY2014FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,182
1,857
1,681
-36.3%
Selling, general and administrative
325
416
390
-22.0%
Operating income
88.6
186
372
-52.4%
Operating margin
7.5%
10.0%
22.1%
Interest expense
128
157
143
-18.0%
Pre-tax income
-60.5
-8.5
243
Income tax
114
-1.7
23.9
Effective tax rate
n/a
n/a
9.8%
Net income
-150
-3.4
158
Net margin
-12.7%
-0.2%
9.4%
Diluted EPS
-$2.13
-$0.05
$1.77
$ million except per share. Read moreFree 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
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
213
317
346
-32.8%
Capital expenditure
58.5
353
579
-83.4%
Free cash flow
154
-36.6
-233
Free cash flow margin
13.0%
-2.0%
-13.9%
Cash from investing
-69.6
-405
-607
Cash from financing
-150
103
144
Depreciation and amortisation
231
222
180
+4.1%
Share-based compensation
10.9
16.8
11.3
-35.4%
Buybacks
0.0
0.4
n/a
Dividends paid
7.3
27.9
27.7
-73.8%
Dividend per share
$0.10
$0.40
$0.40
-75.0%
Diluted shares, weighted
71m
70m
117m
+1.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
353
501
520
-29.6%
Non-controlling interest
252
282
297
-10.6%
Debt
2,902
3,033
2,855
-4.3%
Operating lease liabilities
10.9
10.7
n/a
+2.6%
Other liabilities
222
288
337
-22.7%
Total liabilities and equity
3,740
4,114
4,010
-9.1%
Fixed assets
2,858
3,062
3,012
-6.7%
Goodwill
196
196
196
0.0%
Intangible assets
101
109
117
-7.1%
Cash and equivalents
121
129
115
-5.9%
Receivables
35.1
56.7
51.3
-38.0%
Inventory
13.1
17.8
14.9
-26.4%
Other assets
416
545
503
-23.6%
Total assets
3,740
4,114
4,010
-9.1%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.