Wynn Resorts(MX:WYNN)
MX$1,574.300.00 (0.00%)
MX:WYNN
Wynn Resorts earnings date
MX$1,574.30
At close:0.00 (0.00%)
Wynn Resorts (WYNN) Q3 2026 Earnings Report
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MX:WYNN Q3 2026 EPS Results
- Actual EPS
- MXN 6.14
- Consensus EPS
- MXN 9.77
- Beat/Miss
- Missed by -MXN 3.63
- One Year Ago EPS
- MXN 16.00
MX:WYNN Q3 2026 Revenue Results
- Actual Revenue
- MXN 31.42B
- Expected Revenue
- MXN 32.48B
- Beat/Miss
- Missed by -MXN 1.06B
- YoY Revenue Growth
- -7.89%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- After Close
- Conference Call
- Thursday, November 5, 2026
MX:WYNN Upcoming Earnings
Wynn Resorts's next earnings date is estimated for February 18, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:WYNN Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly constructive despite management's description of the quarter as having more headwinds than tailwinds. Las Vegas showed resilient pricing, strong October trends, favorable event and convention pacing, and disciplined cost management. Macau produced substantial EBITDAR and continued investing in expansion, while the company maintained strong liquidity and shareholder returns. The principal negatives were unfavorable hold, summer seasonality, a Boston labor strike, mixed Macau trends, regulatory and competitive pressures, regional uncertainty around Al Marjan, and a higher Al Marjan budget with additional equity required. Highlights significantly outweighed the lowlights, supporting a positive overall sentiment.
Company Guidance
Management expects Las Vegas CapEx to decline relative to the past several years with select investments in food and beverage and nightlife in 2027, and expects Las Vegas OpEx per day to be in the range of $4.4 million to $4.7 million, depending on volumes and event calendar cadence. Full year 2026 expansionary CapEx for Macau is expected to land in the $350 million to $400 million range; the theater and event center remain on track to open in 2028 and the Enclave in early 2029, adding 432 suites. Wynn Al Marjan Island remains on schedule for a September 2027 opening, with building handovers continuing through July, the ops team having full control in late July, and remaining share of required equity, including the Janu project, estimated at approximately $465 million to $590 million.
- Las Vegas Maintained Strong Pricing MetricsWynn Las Vegas generated $158.8 million of adjusted property EBITDAR on $575.2 million of operating revenue, representing a 27.6% margin. Despite unfavorable hold and a difficult summer market, RevPAR and ADR each increased 3%, while retail lease revenues rose 8%, which management said indicated that the high-end consumer remains healthy.
- Strong October Performance in Las VegasManagement said October was quite strong, with casino drop, ADR, RevPAR, and retail tenant sales all up year-over-year. Luxury retail sales also recorded another high-end increase in October.
- Favorable Las Vegas Event and Convention OutlookThe fourth quarter includes F1, a robust convention calendar, and the NFL season. F1 weekend was pacing ahead of last year in both rate and occupancy, with demand for tickets and rooms still very high. For 2027, group and convention room nights and rates were pacing ahead of where 2026 and 2025 stood at the same point.
- Las Vegas Demand Management and Market PositioningManagement said it optimized the balance between occupancy and ADR rather than discounting rates to maximize occupancy during lower-demand periods. The company also said its market share remained very healthy, particularly relative to pre-COVID levels, and that its pricing power remained very strong.
- Las Vegas Amenities and Renovation ProgressWynn opened the Cliff House Grill at the Wynn Golf Club in October, XS Nightclub completed its renovation and reopened, and the Encore Tower remodel remained on track for completion in the first half of 2027.
- Las Vegas Cost DisciplineLas Vegas OpEx excluding gaming tax was $4.3 million per day, up only 0.4% year-over-year. Management attributed the limited increase to continued discipline in managing costs and FTEs despite the inclusion of Zero Bond and Sartiano's, which are still ramping to full staffing levels. The company expects future Las Vegas OpEx per day to be in the range of $4.4 million to $4.7 million, depending on volumes and event-calendar cadence.
- Boston Financial Performance and Cost ControlEncore Boston Harbor generated $50.1 million of adjusted property EBITDAR on $194.7 million of revenue, representing a 25.8% margin. OpEx per day was $1.11 million, down 4.4% versus the third quarter of last year.
- Boston Labor Framework ReachedManagement announced that it had reached a framework for resolution with union leadership that it described as fair and economically feasible over the long term. Union leadership recommended the agreement to its members, with ratification scheduled to begin later that day.
- Macau Delivered Strong EBITDAR and RevenueWynn Macau generated $255.3 million of adjusted property EBITDAR on $919.2 million of operating revenue, representing a 27.8% margin.
- Positive Macau VIP HoldVIP hold ran above theoretical expectation and added just over $12 million, quantified by the CFO as a positive impact of just under $12.3 million.
- Macau Expansion Projects BeganConstruction began during the third quarter on the previously announced Enclave, theater, and event center projects in Macau. The theater and event center remain on track to open in 2028, while the Enclave is scheduled to open in early 2029 and add 432 suites to Wynn Palace, which already operates at occupancy in the high 90s.
- Macau Expansion CapEx Is Funded by Free Cash FlowManagement said 2026 spending on the theater, event center, and Enclave projects would be limited to piling and early development work, with funding coming from free cash flow generated in Macau. Full-year 2026 expansionary Macau CapEx is expected to be between $350 million and $400 million.
- Strong Liquidity and Shareholder ReturnsGlobal cash and revolver availability totaled $4 billion as of September 30, split approximately $2.5 billion in Macau and $1.5 billion in the U.S. Wynn Macau's Board approved a 2026 interim dividend of $150 million, up from $125 million in the prior year. Wynn Resorts repurchased $58.1 million of stock during the quarter and declared a $0.25 per-share cash dividend payable November 30.
- Continued Share RepurchasesManagement said Wynn Resorts had repurchased more than 14% of its shares since 2022 and would continue buying shares when management believed the stock was undervalued.
- Wynn Al Marjan Island Remains on ScheduleConstruction at Wynn Al Marjan Island continued to move quickly, with finishing work underway and all guestrooms being fitted out. Preopening hiring and operations planning were advancing well, and the project remained scheduled for a September 2027 opening.
- Al Marjan Operational Handover and Opening PreparationThe company expects to begin handing over completed building zones to operations just after the new year, continue handovers through July, give the operations team full control in late July, and use the remaining time for training and readiness before opening in September 2027. Room sales were expected to begin quite soon.
- Al Marjan Demand and Market PositioningManagement said demand should exceed supply for the property's 1,500 keys, that the project would be the only casino in the area for a substantial period, and that awareness of the project was very high in Dubai. Guest communication, gaming-host outreach, database building, and future mass marketing were already underway.
- Al Marjan Source-Market FlexibilityManagement said the project could draw from multiple source markets, including the local UAE population, nearby regional customers, and international visitors. A decision on the format in which the property would open was expected around February, with playbooks prepared for each potential scenario.
- Macau Subscription Agreement Accounting BenefitManagement said the subscription agreement commitment would be recorded on the balance sheet rather than in operating expenses, which it characterized as better from an EBITDA standpoint. The company is continuing to work through the accounting treatment.
- Confidence in Nevada's Regulatory EnvironmentManagement said Nevada was a model for cooperation between the state and gaming industry and that it did not expect to be concerned about gaming-tax increases in the state.
- Potential Future Development OpportunitiesManagement said it was considering how to use the land bank in the UAE, had begun thinking about a potential project across from Wynn and Encore in Las Vegas, and would consider opportunities in Texas and Georgia while remaining selective about other U.S. regional gaming markets.
MX:WYNN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 18, 2027 | 2026 (Q4) | 17.69- | 21.77 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | 9.776.14 | 16 | -61.63% (-9.86) | |
| Aug 04, 2026 | 2026 (Q2) | 18.4523.07 | 20.28 | 13.76% (+2.79) | |
| May 07, 2026 | 2026 (Q1) | 23.3523.25 | 19.91 | 16.82% (+3.35) | |
| Feb 12, 2026 | 2025 (Q4) | 27.4021.77 | 45.02 | -51.65% (-23.25) | |
| Nov 06, 2025 | 2025 (Q3) | 21.4516.00 | 16.74 | -4.44% (-0.74) | |
| Aug 07, 2025 | 2025 (Q2) | 22.2720.28 | 20.84 | -2.68% (-0.56) | |
| May 06, 2025 | 2025 (Q1) | 23.7719.91 | 29.58 | -32.70% (-9.67) | |
| Feb 13, 2025 | 2024 (Q4) | 24.8545.02 | 35.53 | 26.70% (+9.49) | |
| Nov 04, 2024 | 2024 (Q3) | 19.3116.74 | 18.42 | -9.09% (-1.67) |
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
