MGM Resorts (MGM - Free Report) reported $4.38 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 21.8%. EPS of $1.06 for the same period compares to $0.69 a year ago.
The reported revenue represents a surprise of +6.88% over the Zacks Consensus Estimate of $4.09 billion. With the consensus EPS estimate being $0.67, the EPS surprise was +58.21%.
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:
- Las Vegas Strip Resorts - Occupancy: 91% versus the two-analyst average estimate of 94.3%.
- Las Vegas Strip Resorts - Table Games Drop: $1,702 compared to the $1,608.99 average estimate based on two analysts.
- Las Vegas Strip Resorts - Slots Handle: $6,516 versus the two-analyst average estimate of $6,839.24.
- Las Vegas Strip Resorts - Average Daily Rate (ADR): $295 versus $252.29 estimated by two analysts on average.
- Las Vegas Strip Resorts - Slots Win: $599 versus the two-analyst average estimate of $636.05.
- Revenues- MGM China: $982.54 million versus the five-analyst average estimate of $849.82 million. The reported number represents a year-over-year change of +462.4%.
- Revenues- Total Regional Operations: $873.41 million versus $892.69 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -11.9% change.
- Revenues- Total Las Vegas Strip Resorts: $2.37 billion versus the five-analyst average estimate of $2.23 billion. The reported number represents a year-over-year change of +3.2%.
- Revenues- Corporate and other/ Management and other operations: $149.11 million versus the five-analyst average estimate of $130.40 million.
- Revenues- Rooms: $1.01 billion versus $914.90 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +12.5% change.
- Revenues- Casino: $2.20 billion versus $1.89 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +42.3% change.
- Revenues- Food and beverage: $727.86 million versus the two-analyst average estimate of $740.18 million. The reported number represents a year-over-year change of +2.4%.
View all Key Company Metrics for MGM here>>>Shares of MGM have returned +11% 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 Resorts (MGM - Free Report) reported $4.38 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 21.8%. EPS of $1.06 for the same period compares to $0.69 a year ago.
The reported revenue represents a surprise of +6.88% over the Zacks Consensus Estimate of $4.09 billion. With the consensus EPS estimate being $0.67, the EPS surprise was +58.21%.
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:
- Las Vegas Strip Resorts - Occupancy: 91% versus the two-analyst average estimate of 94.3%.
- Las Vegas Strip Resorts - Table Games Drop: $1,702 compared to the $1,608.99 average estimate based on two analysts.
- Las Vegas Strip Resorts - Slots Handle: $6,516 versus the two-analyst average estimate of $6,839.24.
- Las Vegas Strip Resorts - Average Daily Rate (ADR): $295 versus $252.29 estimated by two analysts on average.
- Las Vegas Strip Resorts - Slots Win: $599 versus the two-analyst average estimate of $636.05.
- Revenues- MGM China: $982.54 million versus the five-analyst average estimate of $849.82 million. The reported number represents a year-over-year change of +462.4%.
- Revenues- Total Regional Operations: $873.41 million versus $892.69 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -11.9% change.
- Revenues- Total Las Vegas Strip Resorts: $2.37 billion versus the five-analyst average estimate of $2.23 billion. The reported number represents a year-over-year change of +3.2%.
- Revenues- Corporate and other/ Management and other operations: $149.11 million versus the five-analyst average estimate of $130.40 million.
- Revenues- Rooms: $1.01 billion versus $914.90 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +12.5% change.
- Revenues- Casino: $2.20 billion versus $1.89 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +42.3% change.
- Revenues- Food and beverage: $727.86 million versus the two-analyst average estimate of $740.18 million. The reported number represents a year-over-year change of +2.4%.
View all Key Company Metrics for MGM here>>>Shares of MGM have returned +11% 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.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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