Monarch Casino Q2 revenue slightly beats estimates on growth in casino, F&B, hotel segments
MCRI•Result drivers
- Segment growth - Casino, food and beverage, and hotel revenue all increased, driving overall Q2 revenue growth
- Hotel performance - Hotel revenue rose 13% on higher available rooms and expanded convention and group business at Atlantis
- Tax benefit - Net income and diluted EPS were positively impacted by excess tax benefit on stock options compensation, resulting in a lower effective tax rate
Outlook and capital allocation
- Company expects to continue investing in properties, share repurchases and paying cash dividends
- Company continues to evaluate potential M&A transactions for long-term value creation
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Slight Beat* | $142.60 mln | $142.18 mln (6 Analysts) |
| Q2 EPS | $1.78 | ||
| Q2 Adjusted EBITDA | Slight Miss* | $53 mln | $53.37 mln (6 Analysts) |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
- The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
