AI Takeaway
Wynn Resorts delivered strong Q1 FY2026 results with net income surging 65.6% YoY to $120.5M and operating income rising 5.2% to $282.6M, driven by disciplined cost management and improved profitability despite a significant decline in cash reserves.
EPS (Basic)
$1.17
++69.57% YoY
Operating Income
$282.6M
++5.22% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-Q filing
Operating income increased 5.2% YoY to $282.6M in Q1 FY2026 from $268.6M in the prior year period, reflecting improved operational efficiency and revenue generation across Wynn's resort properties.
Source: Source: 10-Q Income Statement Data
Net income jumped 65.6% YoY to $120.5M from $72.7M, a significant improvement that outpaced operating income growth, suggesting favorable below-the-line items such as reduced interest expense or improved non-operating income.
Source: Source: 10-Q Income Statement Data
SG&A expenses were essentially flat at $275.2M versus $275.7M in the prior year period (-0.2% YoY), demonstrating management's ability to control overhead costs even as the business grows.
Source: Source: 10-Q Income Statement Data
2 more insights available
Upgrade to unlockWynn carries $10.5B in long-term debt against negative stockholders' equity of -$211.8M, resulting in a deeply negative debt-to-equity ratio of -65.4x. This extreme leverage leaves the company vulnerable to interest rate increases and limits financial flexibility in downturns.
Source: Source: 10-Q Balance Sheet Data
Unlock 4 more detailed risk analysis
Upgrade to unlockReported EPS of $1.25 versus the $1.28 analyst consensus — a -2.3% miss for Q1 FY2026.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Income | $282.6M | $268.59M | +5.22% |
Net Income | $120.45M | $72.75M | +65.58% |
EPS (Basic) | $1.17 | $0.69 | +69.57% |
EPS (Diluted) | $1.04 | $0.69 | +50.72% |
SG&A Expense | $275.2M | $275.69M | -0.18% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $12.91B | $12.72B | +1.42% |
Current Assets | $2.43B | $2.59B | -6.37% |
Total Liabilities | $13.85B | $13.83B | +0.16% |
Current Liabilities | $1.96B | $2.4B | -18.37% |
Stockholders' Equity | $-211.82M | $-360.68M | +41.27% |
Cash & Equivalents | $1.19B | $2.07B | -42.63% |
Long-Term Debt | $10.52B | $10.55B | -0.27% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $153.46M | $133.77M | +14.71% |
Investing Cash Flow | $-287.74M | $-221.51M | -29.90% |
Financing Cash Flow | $-137.95M | $-266.95M | +48.32% |
Dividends Paid | $26.88M | $26.79M | +0.32% |
Share Buybacks | $70.05M | $212.05M | -66.97% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
ROE | -56.9% | — | — |
ROA | 0.9% | — | — |
Current Ratio | $1.242 | — | — |
Debt to Equity | $-65.374 | — | — |
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Wynn Resorts delivered strong Q1 FY2026 results with net income of $120.5M, up 65.6% YoY, and operating income of $282.6M, up 5.2% YoY. Basic EPS came in at $1.17, a 69.6% improvement from $0.69 in the prior year period.
Wynn carries $10.5B in long-term debt and has negative stockholders' equity of -$211.8M, meaning total liabilities of $13.85B exceed total assets of $12.91B. However, the equity deficit has improved by 41.3% YoY from -$360.7M, indicating gradual balance sheet improvement.
Wynn's cash and equivalents fell 42.6% YoY to $1.19B from $2.07B, driven by investing outflows of $287.7M for capital expenditures, financing outflows of $138.0M including dividends and share buybacks, which together exceeded operating cash inflows of $153.5M.
No, Wynn generated negative free cash flow in Q1 FY2026, as capital expenditures and investing activities resulted in $287.7M of investing outflows, which exceeded operating cash flow of $153.5M. This reflects ongoing investment in resort properties and infrastructure.
Based on the financial data, key risks include Wynn's highly leveraged balance sheet with $10.5B in long-term debt and negative book equity, a 42.6% YoY decline in cash reserves to $1.19B, and negative free cash flow driven by capital expenditure requirements of $287.7M in the quarter.