Filing Flows › Red Rock Resorts (RRR) › Q1 2025
Red Rock Resorts (RRR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Red Rock Resorts (RRR) reported revenue of $498M for the first quarter 2025 (Q1 2025), +2% from a year earlier and +0.4% from the quarter before. Operating margin was 31.0%, net earnings $44.7M (9.0% of revenue).
Red Rock Resorts, Q1 2025: revenue $498M (+2% year over year), operating margin 31.0%, net earnings $44.7M, operating cash flow $126M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $498M | +0.4% | +2% |
| Operating profit | $154M | +8% | -0.8% |
| Net earnings | $44.7M | -4% | +4% |
| Operating cash flow | $126M | -15% | -0.2% |
| Free cash flow | $58.0M | -52% | +104% |
What changed
Revenue was $497.9M in Q1 2025, up 2% year over year and roughly flat from the previous quarter. Casino was the largest line at 67% of revenue. Casino added $16.4M year over year (up 5%), 183% of the total change. Room declined 5%.
Operating profit was $154.4M, a 31.0% margin (down 0.8 points year over year). Operating profit fell $1.2M even though revenue rose $9.0M versus a year earlier, so costs grew faster than sales. Total costs grew 3% against revenue growth of 2%. Net earnings were $44.7M, up 4% year over year. The effective tax rate was 13.0%.
Operating cash flow was $126.2M (roughly flat year over year), 147% of net income including minority interests. Non-cash charges added back $48.3M of depreciation and amortization and $7.6M of share-based compensation. Working capital and other items used $15.7M. Capital expenditures of $68.2M left free cash flow of $58.0M.
Questions
What was Red Rock Resorts' revenue in the first quarter 2025?
Red Rock Resorts (RRR) reported revenue of $498M for the first quarter 2025 (Q1 2025), +2% from a year earlier and +0.4% from the quarter before.
Was Red Rock Resorts profitable in the first quarter 2025?
Operating profit was $154M (31.0% of revenue) and net earnings $44.7M.
Source: Red Rock Resorts 10-Q on SEC EDGAR.