Caesars Entertainment Misses Q4 Earnings, Sales Estimates

Caesars Entertainment, Inc. CZR reported its fourth-quarter financial results after the bell Tuesday. Here's a look at the details.

The Details:

Caesars Entertainment reported quarterly losses of 34 cents per share which missed the analyst consensus estimate of 7 cents by 385.71%.

The company reported quarterly sales of $2.83 billion, missing the analyst consensus estimate of $2.85 billion by 0.68% and representing a 0.32% increase over sales of $2.82 billion from the same period last year.

Caesars Digital reported adjusted EBITDA of $29 million versus a loss of $5 million for the comparable prior-year period.

“Our fourth quarter operating results demonstrated consolidated net revenue growth, reduced net loss and stable consolidated Adjusted EBITDA year over year. Results were driven by a 28% year-over-year increase in Caesars Digital net revenue that generated a 10% Adjusted EBITDA margin in the quarter. Full year results benefited from a 78% increase in Caesars Digital net revenues to approximately $1.0 billion, and an over $700 million improvement in this segment’s Adjusted EBITDA,” commented Tom Reeg, CEO of Caesars Entertainment.

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CZR Price Action: According to Benzinga Pro, Caesars Entertainment shares are trading down 1.54% after-hours at $41.01 at the time of publication.

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