Monarch Casino & Resort Third Quarter 2024 Earnings: Beats Expectations

Monarch Casino & Resort (NASDAQ:MCRI) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$137.9m (up 3.7% from 3Q 2023).
• Net income: US$27.6m (up 14% from 3Q 2023).
• Profit margin: 20% (up from 18% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$1.50 (up from US$1.26 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Monarch Casino & Resort Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 7.5%.

Looking ahead, revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Hospitality industry in the US.

Performance of the American Hospitality industry.

The company's shares are up 4.4% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Monarch Casino & Resort's balance sheet.

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