Red Rock Resorts, Inc. (RRR) Earnings Call Transcripts
Red Rock Resorts, Inc.'s Latest Earnings Call - Q1 FY2026
In the first quarter of fiscal year 2026, Red Rock Resorts, Inc. reported consolidated net revenue of $507.3 million, a 1.9% increase year-over-year, while adjusted EBITDA decreased by 1.2% to $212.6 million. The adjusted EBITDA margin was 41.9%, down 129 basis points from the previous year. Despite facing headwinds such as higher gas prices and construction disruptions, management remains confident in the company's long-term growth strategy and has maintained its capital allocation plans, including a special dividend and share repurchase program.
Reported metrics
| Metric | Value |
|---|---|
| Consolidated Net Revenue | $507.3 million (beat) |
| Adjusted EBITDA | $212.6 million (miss) |
| Adjusted EBITDA Margin | 41.9% (miss) |
| Free Cash Flow | $107 million (beat) |
| Total Distributions to Shareholders | $170.5 million (positive) |
| Capital Expenditures Guidance | $375 million to $425 million (null) |
Guidance from management
Management expects continued stable trends in core operations but anticipates $9 million in disruption costs for Green Valley Ranch and $2-3 million for Durango in Q2. They maintain a positive outlook on long-term growth despite short-term challenges.
What management said
No. I mean I can qualify -- I mean clearly, we're experiencing higher gas prices in Nevada. I think we're in early days. as judged by our Q1 performance and what we're seeing in April, we've seen no impact from higher gas prices. And what was the second one, Zach?
The air travel, given the fact, while 87% of our hotel guests are generally out of town, the majority of these folks are driving from the regional states. So the TSA impact has been de minimis.
What analysts pressed on
Analysts expressed concerns regarding the impact of construction disruptions on revenue and EBITDA margins, particularly at Green Valley Ranch. There were also questions about the potential effects of rising gas prices and air travel disruptions on customer foot traffic.
Main topics on the call
- Strong Revenue Performance — Red Rock Resorts achieved consolidated net revenue of $507.3 million, up 1.9% year-over-year, driven by solid performance in Las Vegas operations and the North Fork project. Management noted, "Our Las Vegas operations de...
- EBITDA Margin Decline — Adjusted EBITDA decreased by 1.2% to $212.6 million, with a margin of 41.9%, reflecting a decline attributed to disruptions and increased operational costs. Management stated, "the majority of the EBITDA margin degradati...
- Durango Expansion Progress — The Durango property continues to perform well post-expansion, contributing positively to revenue. Management highlighted that results from the new high limit slot area have validated their investment strategy, stating, ...
- Capital Allocation Strategy — Red Rock Resorts returned approximately $170.5 million to shareholders through dividends and share repurchases, demonstrating a commitment to capital discipline. The company plans to spend between $375 million and $425 m...
Read the full Red Rock Resorts, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Red Rock Resorts, Inc.
Red Rock Resorts, Inc. (RRR) is a publicly listed company in the Hotels, Restaurants and Leisure industry, within the Consumer Discretionary sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 29 calls on record spanning February 4, 2020 to August 4, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 29 Red Rock Resorts, Inc. earnings call transcripts on record, spanning February 4, 2020 to August 4, 2026. Based on this history, Red Rock Resorts, Inc. reports quarterly. The most recent call on file is dated August 4, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- RRR
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Consumer Discretionary
- Industry
- Hotels, Restaurants and Leisure
- Calls on record
- 29
- First call
- February 4, 2020
- Most recent
- August 4, 2026
- Reporting cadence
- quarterly