Isle of Capri Casinos Earnings: Everything You Must Know Now
Isle of Capri Casinos Inc. (NASDAQ:ISLE) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Isle of Capri Casinos Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.05 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Rose 5.04% to $247.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Isle of Capri Casinos Inc. reported adjusted EPS loss of $0.05 per share. By that measure, the company missed the mean analyst estimate of $0.02. It missed the average revenue estimate of $253.14 million.
Quoting Management: Virginia McDowell, President and Chief Executive Officer, commented “Our operating results continue to be impacted by the soft regional gaming trends and several of our properties were impacted by flooding and spring storms that occurred in the Midwest during May and June. These items contributed to a decrease in same store casino revenues of $4.5 million, or 1.9%. Adjusted EBITDA at properties open for more than one year decreased $3.8 million, or 7.4%, as our same store operating results have become particularly sensitive to revenue trends. Partially offsetting the softness were Pompano, Black Hawk, and Lake Charles which all experienced year over year increases in net revenue and combined adjusted EBITDA flow through of 60%.
Key Stats (on next page)…