Filing Flows › Vici Properties (VICI) › Q4 2024
Vici Properties (VICI) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 20, 2025
Vici Properties (VICI) reported revenue of $976M for the fourth quarter 2024 (Q4 2024), +5% from a year earlier and +1% from the quarter before. Operating margin was 64.2%, net earnings $615M (63.0% of revenue).
Vici Properties, Q4 2024: revenue $976M (+5% year over year), operating margin 64.2%, net earnings $615M, operating cash flow $644M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $976M | +1% | +5% |
| Operating profit | $627M | -16% | -16% |
| Net earnings | $615M | -16% | -18% |
| Operating cash flow | $644M | +11% | +12% |
| Free cash flow | $643M | +11% | +12% |
What changed
Revenue was $976.1M in Q4 2024, up 5% year over year and up 1% from the previous quarter.
Operating profit was $626.7M, a 64.2% margin (down 16.3 points year over year). Operating profit fell $123.3M even though revenue rose $44.2M versus a year earlier, so costs grew faster than sales. Total costs grew 92% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+103%). Net earnings were $614.6M, down 18% year over year. The effective tax rate was 0.4%.
Operating cash flow was $644.1M (up 12% year over year), 103% of net earnings. Non-cash charges added back $1.0M of depreciation and $4.5M of share-based compensation. Capital expenditures of $1.1M left free cash flow of $643.0M.
Questions
What was Vici Properties' revenue in the fourth quarter 2024?
Vici Properties (VICI) reported revenue of $976M for the fourth quarter 2024 (Q4 2024), +5% from a year earlier and +1% from the quarter before.
Was Vici Properties profitable in the fourth quarter 2024?
Operating profit was $627M (64.2% of revenue) and net earnings $615M.
Source: Vici Properties 10-K on SEC EDGAR.