Wynn Macau Limited (1128.HK) Q4 2024 Earnings Report

Comprehensive analysis of Wynn Macau Limited's financial performance for Q4 2024 with historical comparisons and future outlook.

Previous: Q3 2024 Next: Q1 2025
Wynn Macau Limited
1128.HK
HKD6.64 -0.45%
Exchange: HKSE | Sector: Consumer Cyclical | Industry: Gambling Resorts Casinos
Q4 2024
Published: Dec 31, 2024

Earnings Highlights

  • Revenue of $7.00B down 11% year-over-year
  • EPS of $0.14 decreased by 28.6% from previous year
  • Gross margin of 40.6%
  • Net income of 803.03M
  • "N/A" - N/A

Wynn Macau Limited (1128.HK) QQ4 2024 Earnings Analysis: Revenue Decline Amid Elevated Leverage in Macau's Gambling Resorts

Executive Summary

Wynn Macau Limited reported QQ4 2024 revenue of HKD 7.003 billion, a year-over-year decline of 10.98%, with a gross profit of HKD 2.842 billion and a gross margin of approximately 40.6%. EBITDA was HKD 1.796 billion (EBITDA margin ~25.6%), and operating income reached HKD 1.209 billion (operating margin ~17.3%). Net income for the quarter was HKD 803 million, translating to a net margin of about 11.5% and an earnings per share (EPS) of HKD 0.15. The results reflect a softer Macau gaming environment in 2024 and a higher expense base, including notable other expenses of HKD 1.429 billion that pressured pretax income.

Key Performance Indicators

Revenue

7.00B
QoQ: 0.00% | YoY:-10.98%

Gross Profit

2.84B
40.58% margin
QoQ: 0.00% | YoY:-22.18%

Operating Income

1.21B
QoQ: 0.00% | YoY:-51.10%

Net Income

803.03M
QoQ: 0.00% | YoY:-25.93%

EPS

0.15
QoQ: 0.00% | YoY:-28.57%

Revenue Trend

Margin Analysis

Key Insights

Revenue: HKD 7.003B; YoY -10.98%, QoQ 0.00% Gross Profit: HKD 2.842B; YoY -22.18%, QoQ 0.00% Operating Income: HKD 1.209B; YoY -51.10%, QoQ 0.00% EBITDA: HKD 1.796B; Margin ~25.6% Net Income: HKD 803.0M; YoY -25.93%, QoQ 0.00% EPS (GAAP): HKD 0.15; Diluted HKD 0.14; YoY -28.57% Cash Flow: Operating cash flow HKD 2.956B; Free cash flow HKD 1.598B; Capex HKD 347M; FCF yield supported by cash generation...

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 13,626.41 0.09 +94.6% View
Q1 2025 6,813.20 0.02 -7.5% View
Q4 2024 7,003.14 0.14 -11.0% View
Q3 2024 7,003.14 0.14 +9.1% View

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Q4 2024 Reports in Consumer Cyclical Sector

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