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MGM Resorts (MGM) to Post Q1 Earnings: What's in the Offing?
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MGM Resorts International (MGM - Free Report) is scheduled to report first-quarter 2022 results on May 2, after the closing bell. In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate by a whopping 5000%.
Q1 Estimates
For the first quarter, the Zacks Consensus Estimate for a loss per share has widened to 12 cents from 10 cents in the past seven days. The figure indicates an improvement of 82.4% from a loss of 68 cents per share in the year-ago quarter. The consensus mark for revenues stands at $2.72 billion, suggesting growth of 65% from the year-ago quarter’s figure of $1.65 billion.
Factors to Note
The company’s first-quarter performance is likely to have benefited from improvement in domestic operation, robust sports betting and pent-up demand. In Las Vegas, the company’s revenues are back to normal owing to leisure and domestic casino customers. MGM Resorts’ regional properties may have witnessed solid first-quarter performance, courtesy of its premium offerings and strength in gaming spend levels.
The Zacks Consensus Estimate for Las Vegas Strip and Regional operations’ revenues are pegged at $1,511 million and $838 million, suggesting year-over-year improvements of 177.2% and 17.9%, respectively. The Zacks Consensus Estimate for revenues for MGM China is pegged at $324 million, indicating growth of 9.5% year over year.
Strong digitalization efforts and robust demand for sports betting are likely to get reflected in the to-be-reported quarter’s results. The company has been focused on sports-betting expansion. BetMGM has a long-term growth target of 20% to 25% in U.S. sports betting and iGaming. Currently, the company is on track to achieve its target.
Our proven model predicts an earnings beat for MGM Resorts this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Earnings ESP for MGM Resorts is +65.22%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some other companies in the Zacks Consumer Discretionary sector, which according to our model, also have the right combination of elements to post an earnings beat.
OneWater Marine Inc. (ONEW - Free Report) has an Earnings ESP of +0.12% and a Zacks Rank #2.
Shares of OneWater have declined 48.1% in the past year. ONEW’s earnings surpassed the consensus mark in each of the trailing four quarters, the average surprise being 59%.
Penn National Gaming, Inc. (PENN - Free Report) has an Earnings ESP of +15.25% and a Zacks Rank #3.
Shares of Penn National have declined 9.4% in the past three months. PENN’s earnings beat the estimates in two of the trailing four quarters and missed twice, the average surprise being 6.9%.
Hilton Worldwide Holdings Inc. (HLT - Free Report) has an Earnings ESP of +6.90% and a Zacks Rank #3.
Shares of Hilton have surged 19.9% in the past year. HLT’s earnings beat the estimates in two of the trailing four quarters and missed twice, the average surprise being 0.9%.
Image: Shutterstock
MGM Resorts (MGM) to Post Q1 Earnings: What's in the Offing?
MGM Resorts International (MGM - Free Report) is scheduled to report first-quarter 2022 results on May 2, after the closing bell. In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate by a whopping 5000%.
Q1 Estimates
For the first quarter, the Zacks Consensus Estimate for a loss per share has widened to 12 cents from 10 cents in the past seven days. The figure indicates an improvement of 82.4% from a loss of 68 cents per share in the year-ago quarter. The consensus mark for revenues stands at $2.72 billion, suggesting growth of 65% from the year-ago quarter’s figure of $1.65 billion.
Factors to Note
The company’s first-quarter performance is likely to have benefited from improvement in domestic operation, robust sports betting and pent-up demand. In Las Vegas, the company’s revenues are back to normal owing to leisure and domestic casino customers. MGM Resorts’ regional properties may have witnessed solid first-quarter performance, courtesy of its premium offerings and strength in gaming spend levels.
The Zacks Consensus Estimate for Las Vegas Strip and Regional operations’ revenues are pegged at $1,511 million and $838 million, suggesting year-over-year improvements of 177.2% and 17.9%, respectively. The Zacks Consensus Estimate for revenues for MGM China is pegged at $324 million, indicating growth of 9.5% year over year.
Strong digitalization efforts and robust demand for sports betting are likely to get reflected in the to-be-reported quarter’s results. The company has been focused on sports-betting expansion. BetMGM has a long-term growth target of 20% to 25% in U.S. sports betting and iGaming. Currently, the company is on track to achieve its target.
MGM Resorts International Price and EPS Surprise
MGM Resorts International price-eps-surprise | MGM Resorts International Quote
What Our Model Indicates
Our proven model predicts an earnings beat for MGM Resorts this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Earnings ESP for MGM Resorts is +65.22%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks With Favorable Combination
Here are some other companies in the Zacks Consumer Discretionary sector, which according to our model, also have the right combination of elements to post an earnings beat.
OneWater Marine Inc. (ONEW - Free Report) has an Earnings ESP of +0.12% and a Zacks Rank #2.
Shares of OneWater have declined 48.1% in the past year. ONEW’s earnings surpassed the consensus mark in each of the trailing four quarters, the average surprise being 59%.
Penn National Gaming, Inc. (PENN - Free Report) has an Earnings ESP of +15.25% and a Zacks Rank #3.
Shares of Penn National have declined 9.4% in the past three months. PENN’s earnings beat the estimates in two of the trailing four quarters and missed twice, the average surprise being 6.9%.
Hilton Worldwide Holdings Inc. (HLT - Free Report) has an Earnings ESP of +6.90% and a Zacks Rank #3.
Shares of Hilton have surged 19.9% in the past year. HLT’s earnings beat the estimates in two of the trailing four quarters and missed twice, the average surprise being 0.9%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.