Overview

* Red Rock Q3 revenue rose 1.6% yr/yr, beating analyst expectations

* Adjusted EBITDA for Q3 beats analyst estimates, increasing 4.5% yr/yr

* Company authorizes $300 mln more for share repurchase program, extending to 2027

Outlook

* Company did not provide specific guidance for future quarters or full year in its press release

Result Drivers

* LAS VEGAS OPERATIONS - Revenue from Las Vegas operations increased slightly, contributing to overall revenue growth

* NET INCOME GROWTH - Significant increase in net income attributed to improved operational efficiency and cost management

* NATIVE AMERICAN REVENUE - Development fees from Native American activities contributed to revenue

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $475.57 $475.10

Revenue mln mln (12

Analysts

)

Q3 EPS $0.68

Q3 Net $76.88

Income mln

Q3 Beat $190.90 $184.40

Adjusted mln mln (12

EBITDA Analysts

)

Q3 EBIT $131.48

mln

Q3 $83.49

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 4 "hold" and no "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 Red Rock Resorts Inc ( RRR ) is $65.00, about 10.1% above its October 27 closing price of $58.44

* The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 26 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)