Monarch Casino Stock Price, News & Analysis

Monarch Casino & Resort, Inc. (MCRI) reported a strong first quarter in 2023, with net revenue reaching $116.6 million, up 7.7% from the previous year. Adjusted EBITDA also set a record at $36.5 million, marking a 6.2% increase. The company declared a cash dividend of $0.30 per share payable on June 15, 2023, part of an annual dividend commitment of $1.20 per share. The performance was notably driven by growth in the Black Hawk market, although Reno's results were affected by severe weather disruptions. Despite a 2.5% decline in net income to $17.7 million and 2.2% drop in diluted EPS to $0.90, the company maintains a solid balance sheet with cash of $34 million and plans for continued investments in its properties.

Monarch Casino & Resort, Inc. (MCRI) will release its 2023 Q1 financial results after market close on April 19, 2023. The company operates the Atlantis Casino Resort Spa in Reno, Nevada, and the Monarch Casino Resort Spa in Black Hawk, Colorado. The Atlantis features over 61,000 square feet of casino space, 818 guest rooms, and various dining and entertainment options. The Monarch Black Hawk boasts around 60,000 square feet of casino space and offers 516 guest rooms. Investors should note the upcoming earnings announcement as it may influence future stock performance.

Monarch Casino & Resort, Inc. (MCRI) announced strong fourth quarter and full-year results for 2022, with net revenue reaching $120.5 million, an increase of 8.5% year-over-year, and total annual revenue of $477.9 million, up 20.9%. Net income for Q4 rose 12.9% to $22.4 million, while diluted EPS grew by 11.8% to $1.14. Despite legal and consulting costs linked to ongoing litigation impacting earnings, the company announced a one-time cash dividend of $5.00 per share, payable on March 15, 2023. The firm’s strong cash position of $38.8 million supports continued investments and a new $100 million credit facility enhances future growth.

Monarch Casino & Resort, Inc. (Nasdaq: MCRI) announced a one-time cash dividend of $5.00 per share, payable on March 15, 2023, to shareholders of record by March 1, 2023. Starting from the second quarter of 2023, the company will also initiate an annual dividend of $1.20 per share, distributed quarterly, expecting a total of $5.90 in dividends throughout 2023. CEO John Farahi emphasized the company's strong cash flow and balance sheet, enabling this capital return while still investing in growth and acquisitions. Additionally, the company secured a $100 million revolving credit line to support these dividends and general operations.

Monarch Casino & Resort reported record operating results for Q3 2022, with net revenue reaching $133.7 million, marking a 19.8% increase from Q3 2021. Net income improved by 23.2% to $27.5 million, while diluted EPS rose 22.6% to $1.41. Adjusted EBITDA also saw a significant increase of 28.3% to $51.7 million, achieving a record margin of 38.7%. Despite legal costs linked to ongoing litigation, the company remains confident in its growth trajectory and strategic enhancements, particularly at the Monarch Black Hawk property.

Monarch Casino & Resort (MCRI) reported strong Q2 2022 results with net revenue of $115.3 million, up 18.0% year-over-year, and net income of $19.4 million, reflecting a 7.1% increase. Adjusted EBITDA reached $39.5 million, a 12.2% growth. Basic EPS improved by 4.1% to $1.02. The results were impacted by $2.4 million in legal costs relating to ongoing litigation. Enhanced operations at the Black Hawk property and successful management strategies contributed to record revenues. Capital expenditures totaled $13.5 million, funded by operating cash flows, supporting ongoing property upgrades.

Monarch Casino & Resort reported exceptional Q1 2022 results, achieving net revenue of $108.3 million, a 44.5% increase from the prior year, and a record net income of $18.1 million, up 122.2%. Adjusted EBITDA rose to $34.3 million, reflecting a 50.4% increase. The growth was driven by the expansion of Monarch Black Hawk and strong market demand. Operating expenses are under control, although rising inflation and labor costs pose potential challenges ahead. The company continues to manage capital effectively, with significant investments planned for ongoing property enhancements.

Monarch Casino & Resort reported strong fourth quarter and full year 2021 results, with record net revenue of $111.1 million for Q4, up 90.3% year-over-year, and $395.4 million for the full year, marking a 114.4% increase. Net income for Q4 reached $19.9 million, a 30.2% rise, and full-year net income grew to $68.5 million, up 189.2%. Adjusted EBITDA for Q4 was $39 million, a 180.7% increase, while the full year showed $137.3 million, a 218.1% improvement. The company anticipates continued strong performance in 2022.