The earnings call presented a balanced view, with positive financial performance and strategic advancements in various markets, particularly Las Vegas and Macau. However, challenges such as CapEx delays due to tariffs and competitive pressures in Macau were notable concerns.

Company Guidance -

Q2 2025

During the Wynn Resorts First Quarter 2025 Earnings Call, executives provided several key metrics and insights into their performance and guidance. The company reported that Wynn Las Vegas generated $223.4 million in adjusted property EBITDA on $625.3 million of operating revenue, achieving an EBITDA margin of 35.7%. In Boston, Encore Boston Harbor produced $57.5 million of adjusted property EBITDA on $209.2 million in revenue, with an EBITDA margin of 27.5%. Meanwhile, Macau operations delivered $252.1 million in adjusted property EBITDA on $865.9 million of operating revenue, resulting in an EBITDA margin of 29.1%. The company also discussed capital expenditures, noting that $375 million of projects, including the Encore Tower remodel, have been delayed due to current tariff rates. Additionally, Wynn Resorts completed $200 million in stock repurchases during the first quarter and another $100 million in the second quarter thus far, underscoring their commitment to returning capital to shareholders.

Las Vegas Performance

Wynn Las Vegas generated $223.4 million in adjusted property EBITDA on $625.3 million of operating revenue during the quarter, delivering an EBITDA margin of 35.7%. Revenue and EBITDA were up 5.4% and 2.7%, respectively, when removing the Super Bowl weekend from each quarter.

Boston Harbor Stability

Encore Boston Harbor generated $57 million of EBITDAR with slot volumes up about 3%. Demand in Boston has remained healthy with drop and handle flat to last year.

Macau Resilience

Macau operations delivered adjusted property EBITDA of $252.1 million with operating revenue of $865.9 million. OpEx excluding gaming tax was flat year-on-year. The Gourmet Pavilion at Wynn Palace is already driving increased visitation.

Strong Liquidity Position

Global cash and revolver availability of $3.2 billion as of March 31, comprising $1.8 billion of total cash and available liquidity in Macau and $1.3 billion in the US.

Shareholder Returns

Wynn Resorts repurchased 2.36 million shares for approximately $200 million in Q1 and an additional $100 million in Q2. The Wynn Macau Board recommended increasing the final dividend for 2024 to $125 million.

Wynn Resorts (WYNN) 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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WYNN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 07, 2025	2025 (Q2)	1.20 / -	1.12	―	―	―
May 06, 2025	2025 (Q1)	1.28 / 1.07	1.59	-32.70% (-0.52)
Feb 13, 2025	2024 (Q4)	1.34 / 2.42	1.91	26.70% (+0.51)
Nov 04, 2024	2024 (Q3)	1.04 / 0.90	0.99	-9.09% (-0.09)	―
Aug 06, 2024	2024 (Q2)	1.14 / 1.12	0.91	23.08% (+0.21)	―
May 07, 2024	2024 (Q1)	1.29 / 1.59	0.29	448.28% (+1.30)	―
Feb 07, 2024	2023 (Q4)	1.15 / 1.91	-1.23	255.28% (+3.14)	―
Nov 09, 2023	2023 (Q3)	0.74 / 0.99	-1.2	182.50% (+2.19)	―
Aug 09, 2023	2023 (Q2)	0.64 / 0.91	-0.82	210.98% (+1.73)	―
May 09, 2023	2023 (Q1)	0.04 / 0.29	-1.21	123.97% (+1.50)	―

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

WYNN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 06, 2025	$83.31	$83.90	+0.71%
Feb 13, 2025	$80.04	$88.35	+10.38%
Nov 04, 2024	$94.89	$86.03	-9.34%
Aug 06, 2024	$75.43	$74.01	-1.88%

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.