Caesars Entertainment Inc
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Consumer Discretionary : Hotels, Restaurants & Leisure | Mid Cap Blend
Company profile

Caesars Entertainment, Inc. is a gaming and hospitality company that owns and operates gaming facilities. Its principal operating activities are reported through geographic regions and reportable segments, including West, Midwest, South, East and Central. The West segment includes Silver Legacy Resort Casino, and Tropicana Laughlin Hotel and Casino. The Midwest segment includes Isle Casino Waterloo and Isle Casino Bettendorf. The South segment includes Isle Casino Racing Pompano Park, Isle of Capri Casino Lula, Isle of Capri Casino Hotel Lake Charles, Trop Casino Greenville, and Belle of Baton Rouge Casino and Hotel. The East segment includes Presque Isle Downs and Casino, ldorado Gaming Scioto Downs, and Tropicana Casino and Resort. The Central segment includes Tropicana Evansville, Lumiere Place Casino and Grand Victoria Casino.


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DoorDash earnings: What to expect

1:17 pm ET November 2, 2022 (MarketWatch)

By Levi Sumagaysay

DoorDash is expected to report that losses nearly doubled from last year when releasing results Thursday afternoon

DoorDash Inc. is scheduled to report third-quarter earnings Thursday afternoon, after the close of markets in the U.S.

Analysts on average expect DoorDash's (DASH) quarterly losses to double from a year ago, while revenue is expected to increase more than 27%. Analysts have tracked a recent decline in user growth and orders for food-delivery companies, as DoorDash's stock has hit its lowest prices since its initial public offering in late 2020.

In-depth: As DoorDash stock hits record lows, analysts track a slowdown in food delivery

What to expect

Earnings: According to FactSet, analysts on average expect DoorDash to post a loss of 59 cents a share, after reporting a loss of 30 cents a share a year ago. Estimize, which gathers estimates from analysts, hedge-fund managers, executives and others, reports a consensus estimate for a loss of 45 cents a share.

Revenue: Analysts on average expect revenue of $1.63 billion, according to FactSet, up from $1.28 billion a year ago. Estimize is guiding for $1.6 billion.

Stock movement: DoorDash stock has fallen after reporting earnings in two of the past three quarters, and has risen after five of the seven reports the company has made since going public. DoorDash shares are down almost 70% so far this year through Tuesday's session, while the S&P 500 index has fallen about 19% year to date.

What analysts are saying

Aaron Kessler, an analyst for Raymond James who has a market perform rating on DoorDash stock, said food delivery user growth is slow "given the tough comps from 2021." He said data shows that DoorDash's U.S. daily average users increased just 4% year over year, compared with a rise of 13% in the second quarter, and declined 3% quarter over quarter.

Doug Anmuth, an analyst for JPMorgan who has a neutral rating on the company's stock, said DoorDash's gross order value "has room to grow," and noted that "COVID-19 tailwinds may not be sustainable."

He also said that profitability for Europe-based delivery company Wolt, which DoorDash bought last year, could take time and put pressure on margins in the near term. Kessler estimates that Wolt saw an 18% increase year over year but a 5% decline in orders quarter over quarter.

Overall, though, Anmuth wrote that he is "positive on DASH's value proposition and execution, but need more disclosure around core U.S. restaurant profitability, and path to profitability for growth segments to become more positive."

-Levi Sumagaysay


(END) Dow Jones Newswires

November 02, 2022 13:17 ET (17:17 GMT)

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