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Wynn Resorts, Limited
WYNN - NASDAQ - $102.42 (as of ) ▼ -4.15%
-
Earnings Thu 6 Aug
Note: this preview was published before the 2026-08-06 earnings report. Results have since been released — verify against the latest filings.

Wynn Resorts, Limited (WYNN) Q2 FY26 earnings preview — archived, published May 9, 2026

The median of 10 price targets is $142[FMP target], stock is $102, +38.2% vs the analyst consensus median. Q1 FY26 EPS $1.25 vs $1.18 estimate: beat (+5.9%)[FMP earnings]. Stock move on D+1: -4.1%.

↓ summary below
Quick Take - in 40 seconds ·
C
Council 3/6 - Historical V1 score 36

C — FMP rating [FMP ratings]. Form 4: unavailable[FMP Form 4].

Quick Answer

Wynn Resorts, Limited (WYNN) Q2 consensus: revenue $1.9B[FMP est], EPS $1.25[FMP est]. 1 consecutive quarters of beat[FMP earnings].

$1.25 EPS Estimate Last year $1.09 - +15% YoY
1 Beat Streak Expectations beaten consecutively for the last 1 quarters

Q1 FY26 EPS $1.25 vs $1.18 estimate: beat (+5.9%)[FMP]. Stock move on D+1: -4.1%[FMP D+1].

Watchlist

6 metrics stand out this quarter.

2026 Expectation / Guide

Capex 2026 Guidance

capex_2026_guidance

Wynn continues to expect the initial work on Enclave, together with other CapEx projects to result in a 2026 expansionary CapEx range of $400 million to $450 million.

"We continue to expect the initial work on Enclave, together with our other CapEx projects to result in a 2026 expansionary CapEx range of $400 million to $450 million."

- Craig Fullalove - Q1 FY26 Earnings Call - May 7, 2026
5% Investor Focus

Vegas Ebitdar Growth

vegas_ebitdar_growth

Wynn Las Vegas' hold adjusted EBITDAR grew 5% to $232.5 million, inclusive of the property's best March in history.

"Hold adjusted EBITDAR grew 5% to $235 million (sic) [ $232.5 million ], inclusive of our best March in the history of the property."

- Craig Billings - Q1 FY26 Earnings Call - May 7, 2026
10% Investor Focus

Vegas Revpar Growth

vegas_revpar_growth

In the hotel, RevPAR at Wynn Las Vegas was up nearly 10% year-on-year on a 12% increase in rate.

"In the hotel, RevPAR was up nearly 10% year-on-year on a 12% increase in rate."

- Craig Billings - Q1 FY26 Earnings Call - May 7, 2026
19% Investor Focus

Macau Mass Drop Growth

macau_mass_drop_growth

In Macau, mass drop was extremely strong, up 19% and handle was up 32% year-on-year.

"Mass drop was extremely strong, up 19% and handle was up 32% year-on-year."

- Craig Billings - Q1 FY26 Earnings Call - May 7, 2026
9% Investor Focus

Vegas Casino Revenue Increase

vegas_casino_revenue_increase

Casino revenues at Wynn Las Vegas were up over 9%, driven by increases in both drop and handle.

"Casino revenues were up over 9%, driven by increases in both drop and handle."

- Craig Billings - Q1 FY26 Earnings Call - May 7, 2026
432 Investor Focus

Wynn Palace Expansion

wynn_palace_expansion

The Enclave at Wynn Palace, a 432 all-suite hotel, will be built with a $900 million to $950 million investment, increasing the existing Wynn Palace room count by 25% and suite count by 50%.

"The Enclave at Wynn Palace, a 432 all-suite hotel, will sit directly adjacent to and connect into the east entrance of Wynn Palace. This is a $900 million to $950 million addition that will increase the existing Wynn Palace room count by 25% and our suite count by 50%, driving more foot traffic into gaming and our existing food and beverage outlets."

- Craig Billings - Q1 FY26 Earnings Call - May 7, 2026

Stock Expert AI - Methodology

Do our scoring pillars, 6 perspectives, and Munger lens point in the same direction?

Council Score 3 / 6 Bullish

6 investor frameworks. 3 bullish (Ray Dalio, Klarman, Munger), 1 bearish (Ken Griffin), 2 neutral (Jim Simons, Buffett).

How is it calculated? ->
Ray Dalio macro - target upside +38.2%
Ken Griffin flow - 50d MA below
Jim Simons quant - RSI 44
Klarman value - target upside +38.2%
Buffett quality - ROE score 1/5
Munger valuation - target upside +38.2%
Munger's Mindset character & balance sheet lens
Undervalued

Quality business, discounted price.

How is it calculated? ->
Financial HealthWeak
Margin of SafetyStrong
Interest CoverageAdequate
ROIC vs WACCTight
Technical Levels - Pre-earnings positioning

What levels is the stock being tested at?

RSI(14)
43.6 RSI 43.6 weak momentum, 50d below
MACD
-1.10 price below 50d - resistance dominant
50d MA
$104 stock 1.1% below - short-term resistance
200d MA
$115 stock 11.3% below - long-term pressure
Volume (10d)
+156% increase - pre-earnings positioning
Resistance
$142
Analyst median target - upgrade trigger if broken
Current
$102
Pre-earnings position
Support
$98
Invalidation - close below this is a technical breakdown
Pattern
Range
$98-$142 band - earnings breakout/breakdown trigger

Past Performance

4 quarters shown.

MISS
Q2 FY25
$1.09 vs $1.20 est · Next-day price move: -0.8%
MISS
Q3 FY25
$0.86 vs $1.15 est · Next-day price move: +2.9%
MISS
Q4 FY25
$1.17 vs $1.33 est · Next-day price move: +5.1%
BEAT
Q1 FY26
$1.25 vs $1.18 est · Next-day price move: -4.1%

Q1 FY26 (May 7, 2026) EPS $1.25 vs $1.18 estimate: beat (+5.9%)[FMP]. Stock move on D+1: -4.1%[FMP D+1].

Three scenarios: what could happen?

EPS < $1.21 (no guidance)

Q1 FY26 EPS $1.25 vs $1.18 estimate: beat (+5.9%)[FMP]. Stock move on D+1: -4.1%[FMP].

Backlog concentration

No RPO/backlog concentration disclosed in Q1 earnings call.

CapEx shock

Q1 CapEx not reported[FMP cashflow]. Q1 op margin 15.2%[FMP op margin] - this level in Q1 is sensitive to CapEx revision risk.

Framework - Position discipline

After the data arrives: 3 scenarios, 3 windows

Not advice - a structural framework for earnings night. Decision discipline is yours.

Scenario A - Beat
Q2 EPS > $1.25
Threshold: EPS > $1.25[FMP est].
Target: Break above median target $142[FMP target]; high target $155[FMP] upper bound.
Scenario B - In-Line
EPS approx $1.25
Threshold: EPS approx $1.25[FMP est].
Target: Consolidation in the band between current $102[FMP] and median $142[FMP].
Scenario C - Miss
EPS < $1.21
Threshold: EPS < $1.21[FMP estx0.97].
Current price $102 — below SMA200 $115 [FMP].

Market Outlook

What do analysts say? 10 price targets · 20 ratings

Wall Street Consensus
$142
12-month median target price (+38.2% gap to the analyst consensus median)
19
BUY
1
HOLD
0
SELL
Risk Management
$98
Invalidation level - critical support threshold
$104 - 50-day MA (below, -1.1%)
$115 - 200-day MA (below, -11.3%)
IV Crush risk (sudden drop in inflated option premiums before earnings): Option premiums are inflated before earnings.
Verdict - WYNN Q2 FY26
C

You read it in 5 minutes. When the numbers come out on Thursday evening - you know what you're looking at.

Data arrives at night. The framework is ready now.

Data arrives on Thursday evening. The framework is ready on this page: Q2 EPS threshold $1.25[FMP]. Three scenarios.

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Educational tool, not investment advice. Past performance does not guarantee future results.

Calendar

Catalyst Calendar - 90-day forward look

Aug 6, 2026EARNINGSQ2 FY26 results (after market close) + earnings call
Aug 7, 2026PRICEFirst trading day after earnings - 200dMA test + IV crush
Aug 9, 2026 – Aug 14, 2026FILING10-Q due within 40–45 days of quarter end (by Aug 9, 2026 – Aug 14, 2026); the exact deadline depends on filer status
~Nov 6, 2026EARNINGSQ3 FY26 (next quarter, date not yet scheduled in FMP)

DATA GAP: Events not in the FMP /stable/calendar feed - Investor day, analyst day, product launches, regulatory dates. These require company IR page scraping or manual calendar entry.

Frequently Asked Questions

What does the WYNN Q2 FY26 earnings preview cover?

This Wynn Resorts, Limited (WYNN) Q2 FY26 earnings preview covers the analyst consensus, key catalysts, and what to watch on the earnings call.

What should investors watch for in WYNN Q2 FY26 earnings?

Wynn Resorts, Limited (WYNN): Consensus EPS, revenue guidance, segment growth rates, and the tone of management commentary — the full breakdown with sources is on this page.

Where do the numbers on this page come from?

Wynn Resorts, Limited (WYNN): Figures are sourced from Financial Modeling Prep (FMP) fundamentals and consensus data plus official earnings-call transcripts; derived metrics are labeled with their source next to each figure.

Is this a buy or sell recommendation?

Wynn Resorts, Limited (WYNN): No. This page is educational research, not investment advice. It summarizes analyst consensus and company data; consult a licensed financial advisor before making any investment decision.

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