All eyes will be on the Crown Resorts Ltd (ASX: CWN) share price come Monday. Australia's largest wagering company is due to release its full-year results for the year ended 30 June 2021 (FY21).
Let's take a look at how the Aussie wagering share reacted to previous earnings results ahead of Monday's update.
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The Crown share price lifted after February results
Shares in the casino operator climbed higher following its half-year results released on in February. Some of the key takeaways from that announcement included:
- Revenue down 62.1% on the prior corresponding period (pcp) to $581 million
- Operating cash flow down 82.7% on pcp to $72.3 million
- Earnings before interest, tax, depreciation and amortisation (EBITDA) down 99% on pcp to $4.4 million
- No interim dividend on ordinary shares.
They're certainly not the numbers that investors would have hoped for back in February. However, the Crown share price seesawed in early trade but ultimately managed to climb higher.
Those gains have not been sustained in the months since. Crown shares are down more than 5% year to date despite a significant jump following takeover updates in March and May.
And last August?
It was a similar story when Crown reported its last full-year result in August 2020. Shares in the Aussie casino operator were resilient despite posting an 80.2% drop in net profit after tax.
The COVID-19 pandemic impacted on operations as government-mandated shutdowns alongside border closures reduced foot traffic and revenue generation at Crown's casinos.
That wasn't enough to put off investors, however, as the casino operator's shares remained steady. It's worth noting the Crown share price had already been smashed in 2020 prior to the August earnings season.
Foolish takeaway
Investors will be hoping for share price gains when Crown reports its FY21 results on Monday. The Crown share price closed up 0.32% at $9.32 on Friday afternoon with a market capitalisation of more than $6 billion.
