Wynn Resorts Ltd (WYNN)

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Wynn Misses Estimates
By: TheStreet | February 6, 2020

• Casino operator Wynn Resorts Ltd. posts fourth-quarter loss.

Wynn Resorts Ltd. (WYNN) reported financial results for the fourth quarter that missed analyst projections after the bell Thursday.

The casino and hotel operator posted an adjusted loss of 62 cents a share on revenue of $1.65 billion. The company had been expected to report a profit of 92 cents a share, on sales of $1.7 billion based on a FactSet survey of 15 analysts.

"We delivered solid financial results in the fourth quarter of 2019, growing adjusted property EBITDA nearly 12% sequentially compared to the third quarter," Matt Maddox, CEO of Wynn Resorts, said in a statement.

The release offered no commentary on the impact of the coronavirus outbreak in China, which has forced a two-week closure of casinos in Macau, the company’s largest market.

Shares of Wynn fell sharply in January as the scale of the coronavirus outbreak became clearer. The shares lost 21% from a high of $153.41 in mid-January to the low $120s. Shares have rebounded slightly since then, ending Thursday’s regular session at $134.19.

The stock edged higher to $135 in after-hours trading Thursday.

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