Monarch Casino Q2 Revenue Edges Past Estimates, Hotel Revenue Jumps 13%
MCRI sits 40% above its 52-week low of $88.13.
Summary
Monarch Casino posted Q2 revenue of $142.6M, a 4.2% increase that narrowly beat the $142.18M consensus. Adjusted EBITDA of $53M slightly missed estimates, but diluted EPS surged 23.6% to $1.78, helped by a lower effective tax rate from stock option benefits. Hotel revenue was a standout, rising 13% on expanded convention and group business at the Atlantis property. The company declared a $0.30 quarterly dividend and signaled it will continue buybacks and evaluate M&A. This follows a strong Q1 that saw 38.9% net income growth, and the Q2 results show sustained operational momentum despite a modest EBITDA miss.
At the time of this announcement, MCRI was trading at $123.11 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $88.13 to $135.93. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.