Red Rock Resorts Q1 2026 Earnings Highlights
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2026
0mins
Source: seekingalpha
- Earnings Beat: Red Rock Resorts reported a Q1 2026 GAAP EPS of $0.73, surpassing expectations by $0.19, indicating robust profitability despite slow revenue growth.
- Slight Revenue Increase: The company achieved revenue of $507.3 million in Q1, a 1.9% year-over-year increase, exceeding forecasts by $1.65 million, demonstrating stability in revenue streams amid competitive pressures.
- Net Income Decline: Net income for Q1 was $82.7 million, down 3.8% or $3.3 million from the previous year, reflecting cost pressures and market challenges impacting profitability, necessitating a focus on future cost control strategies.
- Adjusted EBITDA Slightly Down: Adjusted EBITDA stood at $212.6 million for Q1, a decrease of 1.2% or $2.5 million year-over-year, indicating challenges in maintaining profitability, highlighting the need for enhanced operational efficiency moving forward.
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Analyst Views on RRR
Wall Street analysts forecast RRR stock price to rise
10 Analyst Rating
8 Buy
2 Hold
0 Sell
Strong Buy
Current: 65.040
Low
58.00
Averages
65.63
High
73.00
Current: 65.040
Low
58.00
Averages
65.63
High
73.00
About RRR
Red Rock Resorts, Inc. is a holding company that owns an indirect equity interest in and manages Station Casinos LLC (Station Casinos). Station Casinos is a provider of gaming, hospitality and entertainment to the residents of Las Vegas, Nevada. Station Casinos' properties, which are located throughout the Las Vegas valley, are regional entertainment destinations and include hotels as well as various amenities, including numerous restaurants, entertainment venues, movie theaters, bowling and convention/banquet spaces, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering. Station Casinos owns and operates Red Rock Casino Resort Spa, Green Valley Ranch Resort Spa Casino, Durango Resort & Casino, Boulder Station Hotel & Casino, Santa Fe Station Hotel & Casino, Wildfire Rancho, Wildfire Boulder, Wildfire Sunset, Wildfire Valley View, Wildfire Anthem, and Seventy Six by Station Casinos (Centennial & Aliante).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Red Rock Resorts to Release Q2 2026 Financial Results
- Earnings Release Schedule: Red Rock Resorts will announce its Q2 2026 financial results on August 4, 2026, and will hold a conference call at 4:30 PM ET, providing a detailed analysis of the company's performance to help investors assess its financial health.
- Conference Call Details: Investors must dial in by 4:15 PM ET at (888) 317-6003 using passcode 6067582, with international participants using (412) 317-6061, ensuring timely participation in discussions to gain the latest insights.
- Live Webcast Availability: The call will be available via live audio webcast on the Red Rock Resorts website, enhancing transparency and improving engagement with investors by allowing real-time access to the meeting content.
- Replay Information: A replay of the conference call will be available until August 11, 2026, with investors able to access it by calling (855) 669-9658 or internationally at (412) 317-0088, ensuring that those unable to participate live can still obtain key information.
See More
Red Rock Resorts to Release Q2 2026 Financial Results
- Earnings Release Schedule: Red Rock Resorts plans to announce its financial results for Q2 2026 on August 4, 2026, and will hold a conference call at 4:30 PM ET to discuss performance and address investor questions.
- Conference Call Participation: Investors must dial in by 4:15 PM ET at (888) 317-6003 using passcode 6067582, with international participants using (412) 317-6061, ensuring timely engagement in the discussion.
- Live Webcast and Replay: The call will be available via live audio webcast on the Red Rock Resorts website, with a replay accessible until August 11, 2026, by calling (855) 669-9658 or (412) 317-0088 internationally using conference ID 1253272, providing convenience for those unable to attend live.
- Company Background: Red Rock Resorts is a holding company that indirectly owns and manages Station Casinos LLC, the leading provider of gaming, hospitality, and entertainment in Las Vegas, which operates multiple venues offering diverse dining and entertainment options, thereby enhancing the company's competitive edge in the regional market.
See More
Goldman Sachs Initiates Buy Ratings on PENN and RRR
- Coverage Initiation: Goldman Sachs has initiated Buy ratings on PENN Entertainment and Red Rock Resorts, with analyst Lizzie Dove highlighting PENN's compelling risk/reward profile in the gaming sector, particularly as its regional business is at an inflection point driven by new projects and improvements in its Interactive segment.
- Cash Flow Expectations: Goldman Sachs anticipates that PENN will deliver free cash flow exceeding $4 per share by 2028, a projection that not only reflects the company's strong financial performance but also indicates its significant position in the recovering regional gaming market, likely attracting more investor interest.
- Industry Recovery Signals: Goldman Sachs believes the regional gaming sector is experiencing a resurgence, with M&A activity providing a valuation floor and earnings revisions offering investors the potential for share price appreciation, a trend that is crucial for the future performance of both PENN and RRR.
- Red Rock Resorts Outlook: The bullish outlook on Red Rock Resorts from Goldman Sachs is based on its compelling earnings story for 2027, as the company is at an inflection point, overcoming disruption headwinds from 2026 and reaping the benefits from growth investments in its five latest projects.
See More
Major Wall Street Rating Changes on Friday
- Diageo Upgrade: TD Cowen upgraded Diageo from hold to buy, citing valuation dislocation as an attractive entry point, with CEO-led cost cuts and reinvestment expected to restore growth and enhance commercial execution.
- James Hardie Initiation: Stephens initiated coverage of James Hardie with an overweight rating and a $31 price target, highlighting its status as a high-quality company and its position as the second-largest composite decking manufacturer following its merger with AZEK.
- Nike Downgrade: KeyBanc downgraded Nike from overweight to sector weight, indicating that the turnaround is taking longer than anticipated, with slight reductions in FY27 estimates reflecting higher-than-expected headwinds in China and EMEA.
- American Tower Upgrade: RBC upgraded American Tower from sector perform to outperform, noting superior organic revenue growth compared to peers, despite rising interest rate pressures, indicating strong market potential.
See More
Caesars Entertainment Buyout Sparks Industry Transformation
- Caesars Deal Overview: Caesars Entertainment announced a definitive agreement to be acquired by Fertitta Entertainment for approximately $17.6 billion in cash, providing shareholders with $31 per share, a 49% premium over the unaffected price on February 25, 2026, which is set to reshape the regional casino landscape.
- Red Rock Resorts Potential: Red Rock Resorts stands out as the most likely candidate for a take-private deal due to its premium assets and consistent quarterly adjusted EBITDA exceeding $200 million, with most real estate owned outright, mirroring the acquisition potential seen in Caesars.
- PENN Entertainment Financial Performance: PENN Entertainment reported an adjusted EPS of $0.11 for Q1 2026, surpassing consensus estimates, with adjusted EBITDA rising 53.4% year-over-year to $265.8 million, indicating positive outcomes from its digital turnaround strategy.
- Bally's Strategic Challenges: Bally's has a market cap of approximately $684.8 million but faces long-term debt of $4.41 billion, and despite its sprawling asset base, the future acquisition path remains unclear, with shares down 15.3% year-to-date.
See More
Red Rock Resorts Q1 2026 Earnings Call Insights
- Strong Financial Performance: Red Rock Resorts reported Q1 net revenue of $507.3 million, exceeding analysts' expectations of $505.653 million, indicating robust operations in Las Vegas despite ongoing construction disruptions.
- Stable EBITDA Metrics: The adjusted EBITDA for the first quarter was $212.6 million, with an EBITDA margin of 41.9%, although impacted by disruptions at Green Valley and rising utility costs, management remains optimistic about future performance.
- Capital Expenditure Plans: The company expects total capital spending for 2026 to range between $375 million and $425 million, including $275 million to $300 million in investment capital, highlighting its focus on future growth projects, particularly the Durango North expansion scheduled to open in summer 2027.
- Shareholder Return Strategy: In Q1, the company paid a special dividend of $1 per share and a quarterly dividend of $0.26, while repurchasing approximately 635,000 shares, returning about $170.5 million to shareholders, demonstrating a strong commitment to enhancing shareholder value.
See More
Red Rock Resorts to Release Q2 2026 Financial Results
- Earnings Release Schedule: Red Rock Resorts will announce its Q2 2026 financial results on August 4, 2026, and will hold a conference call at 4:30 PM ET, providing a detailed analysis of the company's performance to help investors assess its financial health.
- Conference Call Details: Investors must dial in by 4:15 PM ET at (888) 317-6003 using passcode 6067582, with international participants using (412) 317-6061, ensuring timely participation in discussions to gain the latest insights.
- Live Webcast Availability: The call will be available via live audio webcast on the Red Rock Resorts website, enhancing transparency and improving engagement with investors by allowing real-time access to the meeting content.
- Replay Information: A replay of the conference call will be available until August 11, 2026, with investors able to access it by calling (855) 669-9658 or internationally at (412) 317-0088, ensuring that those unable to participate live can still obtain key information.
See More
Red Rock Resorts to Release Q2 2026 Financial Results
- Earnings Release Schedule: Red Rock Resorts plans to announce its financial results for Q2 2026 on August 4, 2026, and will hold a conference call at 4:30 PM ET to discuss performance and address investor questions.
- Conference Call Participation: Investors must dial in by 4:15 PM ET at (888) 317-6003 using passcode 6067582, with international participants using (412) 317-6061, ensuring timely engagement in the discussion.
- Live Webcast and Replay: The call will be available via live audio webcast on the Red Rock Resorts website, with a replay accessible until August 11, 2026, by calling (855) 669-9658 or (412) 317-0088 internationally using conference ID 1253272, providing convenience for those unable to attend live.
- Company Background: Red Rock Resorts is a holding company that indirectly owns and manages Station Casinos LLC, the leading provider of gaming, hospitality, and entertainment in Las Vegas, which operates multiple venues offering diverse dining and entertainment options, thereby enhancing the company's competitive edge in the regional market.
See More
Goldman Sachs Initiates Buy Ratings on PENN and RRR
- Coverage Initiation: Goldman Sachs has initiated Buy ratings on PENN Entertainment and Red Rock Resorts, with analyst Lizzie Dove highlighting PENN's compelling risk/reward profile in the gaming sector, particularly as its regional business is at an inflection point driven by new projects and improvements in its Interactive segment.
- Cash Flow Expectations: Goldman Sachs anticipates that PENN will deliver free cash flow exceeding $4 per share by 2028, a projection that not only reflects the company's strong financial performance but also indicates its significant position in the recovering regional gaming market, likely attracting more investor interest.
- Industry Recovery Signals: Goldman Sachs believes the regional gaming sector is experiencing a resurgence, with M&A activity providing a valuation floor and earnings revisions offering investors the potential for share price appreciation, a trend that is crucial for the future performance of both PENN and RRR.
- Red Rock Resorts Outlook: The bullish outlook on Red Rock Resorts from Goldman Sachs is based on its compelling earnings story for 2027, as the company is at an inflection point, overcoming disruption headwinds from 2026 and reaping the benefits from growth investments in its five latest projects.
See More
Major Wall Street Rating Changes on Friday
- Diageo Upgrade: TD Cowen upgraded Diageo from hold to buy, citing valuation dislocation as an attractive entry point, with CEO-led cost cuts and reinvestment expected to restore growth and enhance commercial execution.
- James Hardie Initiation: Stephens initiated coverage of James Hardie with an overweight rating and a $31 price target, highlighting its status as a high-quality company and its position as the second-largest composite decking manufacturer following its merger with AZEK.
- Nike Downgrade: KeyBanc downgraded Nike from overweight to sector weight, indicating that the turnaround is taking longer than anticipated, with slight reductions in FY27 estimates reflecting higher-than-expected headwinds in China and EMEA.
- American Tower Upgrade: RBC upgraded American Tower from sector perform to outperform, noting superior organic revenue growth compared to peers, despite rising interest rate pressures, indicating strong market potential.
See More
Caesars Entertainment Buyout Sparks Industry Transformation
- Caesars Deal Overview: Caesars Entertainment announced a definitive agreement to be acquired by Fertitta Entertainment for approximately $17.6 billion in cash, providing shareholders with $31 per share, a 49% premium over the unaffected price on February 25, 2026, which is set to reshape the regional casino landscape.
- Red Rock Resorts Potential: Red Rock Resorts stands out as the most likely candidate for a take-private deal due to its premium assets and consistent quarterly adjusted EBITDA exceeding $200 million, with most real estate owned outright, mirroring the acquisition potential seen in Caesars.
- PENN Entertainment Financial Performance: PENN Entertainment reported an adjusted EPS of $0.11 for Q1 2026, surpassing consensus estimates, with adjusted EBITDA rising 53.4% year-over-year to $265.8 million, indicating positive outcomes from its digital turnaround strategy.
- Bally's Strategic Challenges: Bally's has a market cap of approximately $684.8 million but faces long-term debt of $4.41 billion, and despite its sprawling asset base, the future acquisition path remains unclear, with shares down 15.3% year-to-date.
See More
Red Rock Resorts Q1 2026 Earnings Call Insights
- Strong Financial Performance: Red Rock Resorts reported Q1 net revenue of $507.3 million, exceeding analysts' expectations of $505.653 million, indicating robust operations in Las Vegas despite ongoing construction disruptions.
- Stable EBITDA Metrics: The adjusted EBITDA for the first quarter was $212.6 million, with an EBITDA margin of 41.9%, although impacted by disruptions at Green Valley and rising utility costs, management remains optimistic about future performance.
- Capital Expenditure Plans: The company expects total capital spending for 2026 to range between $375 million and $425 million, including $275 million to $300 million in investment capital, highlighting its focus on future growth projects, particularly the Durango North expansion scheduled to open in summer 2027.
- Shareholder Return Strategy: In Q1, the company paid a special dividend of $1 per share and a quarterly dividend of $0.26, while repurchasing approximately 635,000 shares, returning about $170.5 million to shareholders, demonstrating a strong commitment to enhancing shareholder value.
See More
