Wynn Resorts (WYNN) Q1 FY2026 earnings: revenue $1.9 billion, up 9.2% on the year

Wynn Resorts Ltd. (WYNN) reported revenue of $1.9 billion for Q1 FY2026, the quarter ended 31 March 2026, up 9.2% on the same quarter a year earlier. Net income was $120 million, up 65.6% on the year, and diluted earnings per share $1.04. The figures are the company's own, from the 10-Q it filed with the SEC on 7 May 2026.

Revenue

$1.9 billion

+9.2% on the year · -0.5% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

15.2%

15.8% a year earlier

Q2 FY2024Q1 FY2026

Net income

$120 million

+65.6% on the year · +20.4% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$1.04

+50.7% on the year · +26.8% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 4 kept.

Revenue rose $156.4 million: Growth came mainly from Wynn Palace and Las Vegas, with Macau revenue roughly flat year over year.
Adjusted Property EBITDAR rose: Gains at Wynn Palace and Las Vegas outweighed declines at Wynn Macau and Encore Boston Harbor in the company's segment reconciliation.
Wynn Palace EBITDAR grew fastest: Palace EBITDAR grew 25.9%, against revenue growth of 23.0%, the largest EBITDAR gain of any property.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	1,857	1,866	1,700	-0.5%	+9.2%
Selling, general and administrative	275	285	276	-3.6%	-0.2%
Operating income	283	275	269	+2.9%	+5.2%
Operating margin	15.2%	14.7%	15.8%
Interest expense	152	156	158	-2.2%	-3.3%
Pre-tax income	161	145	92.4	+11.1%	+73.8%
Income tax	10.1	22.3	11.0	-54.5%	-8.1%
Effective tax rate	6.3%	15.4%	11.9%
Net income	120	100	72.7	+20.4%	+65.6%
Net margin	6.5%	5.4%	4.3%
Diluted EPS	$1.04	$0.82	$0.69	+26.8%	+50.7%

$ million except per share.

Fourth quarters are the year less the first three quarters. 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

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	153	478	134	-67.9%	+14.7%
Capital expenditure	179	171	160	+4.6%	+12.0%
Free cash flow	-25.6	307	-26.2
Free cash flow margin	-1.4%	16.4%	-1.5%
Cash from investing	-288	-457	-222
Cash from financing	-138	-42.0	-267
Depreciation and amortisation	161	159	155	+0.7%	+3.3%
Share-based compensation	25.7	21.0	19.4	+22.4%	+32.7%
Buybacks	70.0	0.4	212	+15,535.5%	-67.0%
Dividends paid	26.9	25.8	26.8	+4.2%	+0.3%
Dividend per share	$0.25	$0.25	$0.25	0.0%	0.0%
Diluted shares, weighted	104m	n/a	106m		-1.8%
Shares outstanding at period end	104m	104m	106m	-0.2%	-2.0%

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

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	-212	-275	-361
Non-controlling interest	-731	-756	-741
Debt	10,525	10,547	10,553	-0.2%	-0.3%
Operating lease liabilities	1,635	1,629	1,631	+0.4%	+0.2%
Finance lease liabilities	n/a	73.7	n/a
Other liabilities	1,688	1,890	1,642	-10.7%	+2.8%
Total liabilities and equity	12,905	13,108	12,724	-1.5%	+1.4%
Fixed assets	6,604	6,626	6,546	-0.3%	+0.9%
Intangible assets	216	224	n/a	-3.8%
Cash and equivalents	1,188	1,463	2,070	-18.8%	-42.6%
Receivables	389	403	334	-3.5%	+16.3%
Inventory	91.6	88.5	80.6	+3.5%	+13.6%
Other assets	4,418	4,303	3,693	+2.7%	+19.6%
Total assets	12,905	13,108	12,724	-1.5%	+1.4%

Questions

What was Wynn Resorts' revenue in Q1 FY2026?

Wynn Resorts (WYNN) reported revenue of $1.9 billion for Q1 FY2026, the quarter ended 31 March 2026, up 9.2% on the same quarter a year earlier.

How much did Wynn Resorts earn in Q1 FY2026?

Net income for Q1 FY2026 was $120 million, up 65.6% on the year, and diluted earnings per share $1.04.

When did Wynn Resorts report Q1 FY2026 results?

Wynn Resorts filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 7 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 * †	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,053	953	909	890	1,005	1,424	1,596	1,672	1,840	1,863	1,733	1,693	1,839	1,700	1,738	1,834	1,866	1,857	1,857	1,689
SG&A	222	197	200	201	232	260	257	268	279	272	265	272	272	276	281	275	285	275	270	276
Operating income	-106	-94.9	-52.0	-53.0	99.2	170	250	62.6	358	363	270	133	367	269	265	310	275	283	298	178
Operating margin	-10%	-10%	-6%	-6%	10%	12%	16%	4%	19%	19%	16%	8%	20%	16%	15%	17%	15%	15%	16%	11%
Interest expense	152	152	155	165	179	188	190	189	185	182	175	168	163	158	155	158	156	152	152	152
Pre-tax income	-258	-253	-213	-206	-27.5	2.2	132	-123	274	197	154	11.7	281	92.4	87.5	190	145	161	199	42.3
Tax rate	n/a	n/a	n/a	n/a	n/a	47%	3%	n/a	-182%	10%	5%	146%	-15%	12%	12%	32%	15%	6%	8%	13%
Net income	-177	-183	-130	-143	32.4	12.3	105	-117	729	144	112	-32.1	277	72.7	66.2	88.3	100	120	140	17.3
Net margin	-17%	-19%	-14%	-16%	3%	1%	7%	-7%	40%	8%	6%	-2%	15%	4%	4%	5%	5%	6%	8%	1%
Diluted EPS	-$1.51	-$1.59	-$1.14	-$1.27	$0.29	-$0.02	$0.84	-$1.03	$6.19	$1.30	$0.91	-$0.29	$2.29	$0.69	$0.64	$0.85	$0.82	$1.04	$1.32	$0.17
Operating cash flow	-5.8	-117	-40.1	4.4	81.8	169	361	276	441	315	353	279	479	134	405	336	478	153	492	96.8
Capital expenditure	77.6	96.3	89.7	87.2	26.9	124	90.8	114	113	97.7	93.6	101	127	160	165	164	171	179	153	202
Free cash flow	-83.3	-214	-130	-82.8	54.9	45.0	270	162	328	217	259	178	352	-26.2	240	172	307	-25.6	339	-105
Buybacks	2.8	11.7	138	29.3	8.9	10.8	1.3	58.9	141	11.4	69.4	117	204	212	166	2.0	0.4	70.0	95.5	58.1
Dividends paid	0.6	1.2	0.1	0.0	0.1	0.2	28.5	28.0	28.0	28.0	42.2	41.9	27.5	26.8	61.5	60.6	25.8	26.9	68.1	68.3
Shares outstanding	116m	116m	114m	113m	113m	114m	114m	113m	112m	112m	111m	110m	108m	106m	104m	104m	104m	104m	103m	103m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	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 its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 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.

10-Q for the period ended 31 March 2026, filed 7 May 2026: the filing.