Why Wynn Resorts Shares Are Trading Higher During Wednesday's After-Hours Session

Wynn Resorts, Limited WYNN shares are trading higher by 4.11% to $107.88 during Wednesday's after-hours session. The company reported mixed fourth-quarter financial results.

What Happened?

Wynn Resorts reported quarterly losses of $1.23 per share, which missed the analyst consensus estimate of a loss of 91 cents. Wynn Resorts also reported quarterly sales of $1.00 billion, which beat the analyst consensus estimate of $958.00 million by 5%. This sales figure is, however, a 4.6% decrease over sales of $1.05 billion in the same period last year.

The company also highlighted net loss attributable to Wynn Resorts was $423.9 million, or $3.73 per diluted share for the year ended December 31, 2022, compared to net loss attributable to Wynn Resorts of $755.8 million, or $6.64 per diluted share for the year ended December 31, 2021.

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"Our teams at Wynn Las Vegas and Encore Boston Harbor delivered a new fourth-quarter record for Adjusted Property EBITDAR at our combined North American properties. For the full year of 2022, these properties generated $1.04 billion of Adjusted Property EBITDAR, a record for us by a wide margin," Craig Billings, CEO of Wynn Resorts, said in part of a statement.

These impressive results are a testament to our team's relentless focus on delivering five-star hospitality, which continues to elevate our properties above our peers as the destinations of choice for luxury guests in both Las Vegas and Massachusetts," Billings stated.

According to data from Benzinga Pro, WYNN has a 52-week high of $105.47 and a 52-week low of $50.20.