Monarch Casino Q2 revenue up 6.8%, beats estimates
Overview
Monarch Q2 revenue rises 6.8% yr/yr, beating analyst expectations, per LSEG data
Adjusted EBITDA for Q2 beats analyst estimates, per LSEG data, reflecting operational efficiencies
Company repurchased 240,395 shares, totaling $19.8 mln, funded by cash flow
Outlook
Monarch expects continued strong balance sheet and free cash flow.
Monarch evaluates potential M&A opportunities for long-term value.
Result Drivers
CASINO REVENUE - Casino revenue increased 12.1% year-over-year, driving overall revenue growth, per CEO comment
OPERATIONAL EFFICIENCIES - Improved labor management and operational efficiencies led to a 320 basis point increase in operating margin, per CEO comment
HOTEL REVENUE DECLINE - Hotel revenue declined 3.1% due to less convention group business, impacting overall revenue, per company report
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $136.91 mln | $129.80 mln (5 Analysts) |
Q2 EPS |
| $1.44 |
|
Q2 Adjusted EBITDA | Beat | $51.29 mln | $44.40 mln (5 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the casinos & gaming peer group is "buy."
Wall Street's median 12-month price target for Monarch Casino & Resort Inc is $84.00, about 2.2% below its July 15 closing price of $85.86
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 15 three months ago
Press Release: ID:nGNXbbcB0b
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