Red Rock Resorts (RRR) Q3 FY2023 earnings: revenue $412 million, down 0.7% on the year

Red Rock Resorts, Inc. (RRR) reported revenue of $412 million for Q3 FY2023, the quarter ended 30 September 2023, down 0.7% on the same quarter a year earlier. Net income was $36 million, down 28.4% on the year, and diluted earnings per share $0.60. The figures are the company's own, from the 10-Q it filed with the SEC on 9 November 2023.

Revenue$412 milliondown 0.7%

Net income$36 milliondown 28.4%

Diluted EPS$0.60

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	412	n/a	n/a	n/a
Selling, general and administrative	91.8	n/a	n/a	n/a
Operating income	123	n/a	n/a	n/a
Operating margin	29.8%	n/a	n/a
Interest expense	45.5	n/a	n/a	n/a
Pre-tax income	77.7	n/a	n/a	n/a
Income tax	9.3	n/a	n/a	n/a
Effective tax rate	11.9%	n/a	n/a
Net income	35.5	n/a	n/a	n/a
Net margin	8.6%	n/a	n/a
Diluted EPS	$0.60	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	100	n/a	n/a	n/a
Capital expenditure	135	n/a	n/a	n/a
Free cash flow	-35.2	n/a	n/a	n/a
Free cash flow margin	-8.6%	n/a	n/a
Cash from investing	-136	n/a	n/a	n/a
Cash from financing	58.1	n/a	n/a	n/a
Depreciation and amortisation	32.5	n/a	n/a	n/a
Share-based compensation	4.4	n/a	n/a	n/a
Buybacks	0.0	n/a	n/a	n/a
Dividends paid	14.5	n/a	n/a	n/a
Diluted shares, weighted	103m	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	123	n/a	n/a	n/a
Non-controlling interest	34.3	n/a	n/a	n/a
Debt	3,280	n/a	n/a	n/a
Other liabilities	424	n/a	n/a	n/a
Total liabilities and equity	3,861	n/a	n/a	n/a
Fixed assets	2,632	n/a	n/a	n/a
Goodwill	196	n/a	n/a	n/a
Intangible assets	83.2	n/a	n/a	n/a
Cash and equivalents	123	n/a	n/a	n/a
Receivables	77.0	n/a	n/a	n/a
Inventory	13.6	n/a	n/a	n/a
Other assets	738	n/a	n/a	n/a
Total assets	3,861	n/a	n/a	n/a

Questions

What was Red Rock Resorts' revenue in Q3 FY2023?

Red Rock Resorts (RRR) reported revenue of $412 million for Q3 FY2023, the quarter ended 30 September 2023, down 0.7% on the same quarter a year earlier.

How much did Red Rock Resorts earn in Q3 FY2023?

Net income for Q3 FY2023 was $36 million, down 28.4% on the year, and diluted earnings per share $0.60.

When did Red Rock Resorts report Q3 FY2023 results?

Red Rock Resorts filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 9 November 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	412	463	489	486	468	496	498	526	476	512	507	510
SG&A	91.8	96.7	105	111	109	107	105	112	113	112	114	118
Operating income	123	172	156	140	131	142	154	168	131	144	144	136
Operating margin	30%	37%	32%	29%	28%	29%	31%	32%	28%	28%	28%	27%
Interest expense	45.5	48.7	57.2	57.4	58.0	56.2	51.1	50.6	50.5	49.6	49.5	49.6
Pre-tax income	77.7	124	84.6	81.6	63.4	98.5	98.8	124	83.5	95.9	95.8	90.1
Tax rate	12%	12%	7%	14%	13%	11%	13%	13%	8%	12%	14%	15%
Net income	35.5	56.3	42.8	35.7	29.0	46.6	44.7	56.4	42.3	44.7	42.9	39.1
Net margin	9%	12%	9%	7%	6%	9%	9%	11%	9%	9%	8%	8%
Diluted EPS	$0.60	$0.95	$0.68	$0.59	$0.48	$0.76	$0.75	$0.95	$0.68	$0.75	$0.73	$0.67
Operating cash flow	100	159	126	143	131	148	126	158	168	157	140	158
Capital expenditure	135	187	98.1	78.6	80.3	26.9	68.2	78.2	93.7	78.9	117	140
Free cash flow	-35.2	-28.1	28.4	64.0	50.7	121	58.0	80.3	74.6	77.7	22.6	18.2
Buybacks	0.0	0.0	n/a	n/a	0.0	n/a	0.0	30.9	0.0	48.2	38.3	0.0
Dividends paid	14.5	14.6	74.1	14.8	14.8	14.8	15.9	74.5	14.9	15.4	75.3	15.3
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 9 November 2023, accession 0001653653-23-000020: the filing on EDGAR. All of Red Rock Resorts, Inc.'s filings: EDGAR company page.

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