Red Rock Resorts (RRR) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 30, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.5

Last Year’s EPS

0.43

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 12 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 10, 2026|

% Change Since:

Earnings Call Sentiment|Positive

Overall the call emphasized strong, record-setting financial and operational performance (multiple record quarters and all-time highs in adjusted EBITDA), robust free cash flow conversion and shareholder returns, active strategic reinvestment across the portfolio, and a healthy development pipeline (Durango expansion, North Fork on track). The primary negatives were near-term construction disruption and associated uncertainty, modest single-digit growth rates, elevated absolute leverage and significant planned 2026 capex, and some external legal and tax-rule ambiguity. Management expressed confidence in long-term growth prospects and the ability to manage short-term disruption.

Company Guidance

The company guided to $375–425 million of total capital spend for 2026 (including $275–300 million of investment capital and $100–125 million of maintenance capital), and reiterated major project costs and timings: Durango expansion ~ $385 million (adds ~275k sq ft and ~400 slots), Sunset Station next phase ~$87 million, Green Valley Ranch next phase ~$56 million, and North Fork total all‑in project cost ~ $750 million (fully financed) with an opening targeted for early Q4 2026 and Red Rock’s outstanding note balance to the tribe of ~$77.9 million; balance sheet and liquidity at Q4 included $142.5 million cash, $3.4 billion total debt, $3.3 billion net debt and a net‑debt/EBITDA ratio of 3.87x (seventh consecutive quarter of deleveraging). Operationally they reported Q4 Las Vegas net revenue of $505.0 million (+2.5% YoY), Las Vegas adjusted EBITDA $231.0 million (+3.2%) with a 45.8% margin (+32 bps), consolidated Q4 net revenue $511.8 million (incl. $3.7M North Fork) and consolidated adjusted EBITDA $213.0 million (41.7% margin, +84 bps); full‑year Las Vegas net revenue was just under $2.0 billion (+2.9%) with adjusted EBITDA $915.9 million (+4.2%, 46.2% margin, +56 bps), and consolidated FY net revenue ~$2.0 billion (incl. $17.6M North Fork) with consolidated adjusted EBITDA $848.6 million (+6.6%, 42.2% margin, +114 bps). They converted 62% of adjusted EBITDA to operating free cash flow in the quarter ($131.5 million, or $1.25/share) and 55% on a 2025 cumulative basis ($466.3 million, or $4.44/share), returned ~ $296.9 million to shareholders in 2025 (dividends + buybacks), repurchased ~880,000 shares at an average $54.67 reducing shares outstanding to ~104.9 million, and declared a $1.00 special dividend (payable Feb 27, record Feb 20) and a regular $0.26 dividend (payable Mar 31, record Mar 16); Q4 capex was $78.9 million (investment $64.2M, maintenance $14.7M) and full‑year capex was $319 million (investment $227M, maintenance $92M), down from prior guidance due to timing, and management said they still expect to grow Las Vegas EBITDA in 2026 despite near‑term construction disruption (Q4 disruption was ~$5.1M; Green Valley disruption was highlighted at roughly $9M).

Record Financial Performance — Las Vegas Operations

Las Vegas operations set new fourth-quarter records for net revenue and adjusted EBITDA (Q4 net revenue $505M, +2.5% YoY; Q4 adjusted EBITDA $231M, +3.2% YoY) and delivered the strongest full-year performance on record (FY net revenue just under $2.0B, +2.9% YoY; FY adjusted EBITDA $915.9M, +4.2% YoY). This marked the ninth consecutive record quarter for both net revenue and adjusted EBITDA and the fifth consecutive year of record adjusted EBITDA.

Consolidated Results and Margin Expansion

Consolidated Q4 net revenue $511.8M (+3.2% YoY) and consolidated Q4 adjusted EBITDA $213.0M (+5.4% YoY). Q4 adjusted EBITDA margin expanded to 41.7% (+84 bps YoY). Full-year consolidated net revenue ~$2.0B (+3.7% YoY) and full-year consolidated adjusted EBITDA $848.6M (+6.6% YoY) with FY consolidated adjusted EBITDA margin 42.2% (+114 bps YoY).

Strong Profitability Metrics — High Margins

Las Vegas full-year adjusted EBITDA margin was 46.2% (+56 bps YoY) and Q4 Las Vegas adjusted EBITDA margin was 45.8% (+32 bps YoY), demonstrating continued high-margin operations and operating discipline.

Robust Free Cash Flow and Capital Returns

Q4 operating free cash flow conversion was 62% of adjusted EBITDA, generating $131.5M ($1.25 per share). Full-year operating cash flow conversion was 55% of adjusted EBITDA, producing $466.3M ($4.44 per share). Returned ~$296.9M to shareholders in 2025 via dividends and share repurchases; repurchased ~880,000 shares at an average price of $54.67; Board declared a $1.00 special dividend and a $0.26 regular dividend.

Deleveraging and Balance Sheet Progress

Cash and cash equivalents of $142.5M and total principal debt of $3.4B resulted in net debt of ~$3.3B. Net debt to EBITDA was 3.87x at quarter-end, marking the seventh consecutive quarter of deleveraging.

Active and Strategic Capital Deployment

Invested $78.9M in Q4 (approximately $64.2M investment capital and $14.7M maintenance) and $319M for full-year 2025 (approx. $227M investment, $92M maintenance). 2026 capex guidance of $375–$425M (investment $275–$300M; maintenance $100–$125M) to support Durango, Sunset Station, and Green Valley Ranch projects.

Durango Expansion and Pipeline Growth

Completed a Durango expansion Dec 15 (25,000+ sq ft new casino space and ~2,000 parking spaces). Broke ground Jan 5 on next phase: expand podium by ~275,000 sq ft, add ~400 slot machines and 'Android gaming', 36-lane bowling, luxury movie theaters, new restaurants and entertainment (Moonshine Flats). Project cost estimated at ~$385M; ~18 months construction expected.

North Fork Project On Track and Financed

North Fork construction progressing well and remains on track for an early Q4 2026 opening. Total all-in project cost ~ $750M and is fully financed; Red Rock's outstanding note balance due to tribe ~$77.9M. Company does not expect a recent California court ruling on a separate tribal matter to impede opening.

Operational Strength Across Segments

Gaming posted the highest fourth-quarter revenue and profitability in company history; non-gaming segments (hotel and F&B) achieved near-record or record revenue and profitability. Carded slot play, regional and national customers, and higher-limit product drove performance, and group & catering showed near‑record results (adjusted for rooms offline).

Employer Recognition

Station Casinos recognized by Forbes as one of America's Best Large Employers for 2026, highlighting strengths in workplace culture and team engagement.

Red Rock Resorts (RRR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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RRR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2026	2026 (Q1)	0.50 / -	0.433	―	―	―
Feb 10, 2026	2025 (Q4)	0.49 / 0.44	0.45	-2.44% (-0.01)
Oct 28, 2025	2025 (Q3)	0.39 / 0.41	0.279	47.67% (+0.13)
Jul 29, 2025	2025 (Q2)	0.41 / 0.55	0.59	-6.95% (-0.04)
May 01, 2025	2025 (Q1)	0.55 / 0.43	0.413	4.84% (+0.02)	―
Feb 11, 2025	2024 (Q4)	0.43 / 0.45	0.546	-17.58% (-0.10)	―
Nov 07, 2024	2024 (Q3)	0.36 / 0.28	0.344	-18.90% (-0.06)	―
Jul 23, 2024	2024 (Q2)	0.44 / 0.59	0.382	54.45% (+0.21)	―
May 07, 2024	2024 (Q1)	0.56 / 0.41	0.433	-4.62% (-0.02)	―
Feb 07, 2024	2023 (Q4)	0.45 / 0.55	0.892	-38.79% (-0.35)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

RRR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 10, 2026	$65.78	$63.89	-2.87%
Oct 28, 2025	$58.09	$51.28	-11.73%
Jul 29, 2025	$53.73	$58.61	+9.09%
May 01, 2025	$40.21	$41.68	+3.64%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Red Rock Resorts (RRR) report earnings?

Red Rock Resorts (RRR) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).

What is Red Rock Resorts (RRR) earnings time?

Red Rock Resorts (RRR) earnings time is at Apr 30, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is RRR EPS forecast?

RRR EPS forecast for the fiscal quarter 2026 (Q1) is 0.5.