Online casino and sports betting company Rush Street Interactive (NYSE: RSI) will be announcing earnings results this Wednesday after market hours. Here’s what to expect.
Rush Street Interactive beat analysts’ revenue expectations last quarter, reporting revenues of $393.8 million, up 46.3% year on year. It was a very strong quarter for the company, with full-year revenue and EBITDA guidance topping analysts’ expectations.
Is Rush Street Interactive a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Rush Street Interactive’s revenue to grow 39.8% year on year, improving from the 19.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Rush Street Interactive has a history of exceeding Wall Street’s expectations.
Looking at Rush Street Interactive’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Hasbro delivered year-on-year revenue growth of 15%, beating analysts’ expectations by 7.9%, and Levi's reported revenues up 4.3%, in line with consensus estimates. Hasbro traded up 15.7% following the results while Levi's was down 2.4%.
Read our full analysis of Hasbro’s results here and Levi’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. Rush Street Interactive is down 16.4% during the same time and is heading into earnings with an average analyst price target of $31.71 (compared to the current share price of $16.35).
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