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MGM (MGM) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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MGM Resorts (MGM - Free Report) reported $3.87 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 35.7%. EPS of $0.44 for the same period compares to $0.01 a year ago.
The reported revenue represents a surprise of +10.22% over the Zacks Consensus Estimate of $3.51 billion. With the consensus EPS estimate being $0.04, the EPS surprise was +1000.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MGM performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Total Las Vegas Strip Resorts: $2.18 billion versus the five-analyst average estimate of $2.13 billion. The reported number represents a year-over-year change of +28%.
Revenue- MGM China: $617.59 million versus the five-analyst average estimate of $354.45 million. The reported number represents a year-over-year change of +130.4%.
Revenue- Total Regional Operations: $945.84 million compared to the $908.25 million average estimate based on five analysts. The reported number represents a change of +6.2% year over year.
Revenue- Management and other operations: $133.71 million versus the four-analyst average estimate of $110.51 million.
Adjusted Property EBITDA- Total Las Vegas Strip Resorts: $835.81 million versus $744.42 million estimated by six analysts on average.
Adjusted Property EBITDA- Total Regional Operations: $313.18 million versus the six-analyst average estimate of $289.62 million.
Adjusted Property EBITDA- MGM China: $168.95 million compared to the $48.93 million average estimate based on six analysts.
Adjusted Property EBITDA- Unconsolidated resorts/affiliates: -$77.69 million compared to the -$34.19 million average estimate based on six analysts.
Adjusted Property EBITDA- Management and other operations: $0.53 million versus the six-analyst average estimate of $13.39 million.
Adjusted Property EBITDA- Corporate: -$110.61 million versus the four-analyst average estimate of -$101.78 million.
Shares of MGM have returned +1.1% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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MGM (MGM) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
MGM Resorts (MGM - Free Report) reported $3.87 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 35.7%. EPS of $0.44 for the same period compares to $0.01 a year ago.
The reported revenue represents a surprise of +10.22% over the Zacks Consensus Estimate of $3.51 billion. With the consensus EPS estimate being $0.04, the EPS surprise was +1000.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MGM performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Total Las Vegas Strip Resorts: $2.18 billion versus the five-analyst average estimate of $2.13 billion. The reported number represents a year-over-year change of +28%.
- Revenue- MGM China: $617.59 million versus the five-analyst average estimate of $354.45 million. The reported number represents a year-over-year change of +130.4%.
- Revenue- Total Regional Operations: $945.84 million compared to the $908.25 million average estimate based on five analysts. The reported number represents a change of +6.2% year over year.
- Revenue- Management and other operations: $133.71 million versus the four-analyst average estimate of $110.51 million.
- Adjusted Property EBITDA- Total Las Vegas Strip Resorts: $835.81 million versus $744.42 million estimated by six analysts on average.
- Adjusted Property EBITDA- Total Regional Operations: $313.18 million versus the six-analyst average estimate of $289.62 million.
- Adjusted Property EBITDA- MGM China: $168.95 million compared to the $48.93 million average estimate based on six analysts.
- Adjusted Property EBITDA- Unconsolidated resorts/affiliates: -$77.69 million compared to the -$34.19 million average estimate based on six analysts.
- Adjusted Property EBITDA- Management and other operations: $0.53 million versus the six-analyst average estimate of $13.39 million.
- Adjusted Property EBITDA- Corporate: -$110.61 million versus the four-analyst average estimate of -$101.78 million.
View all Key Company Metrics for MGM here>>>Shares of MGM have returned +1.1% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.