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MGM Resorts (MGM) Gears Up for Q4 Earnings: What's in Store?
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MGM Resorts International (MGM - Free Report) is scheduled to report fourth-quarter 2022 results on Feb 8, after the closing bell. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 731.8%.
Q4 Estimates
For the fourth quarter, the Zacks Consensus Estimate for a loss per share has narrowed to $1.60 from $1.63 in the past seven days. In the prior-year quarter, the company had reported adjusted earnings per share of 12 cents. The Zacks Consensus Estimate for revenues is pegged at $3.35 billion, suggesting growth of 9.6% from the year-ago quarter’s figure of $3.06 billion.
Factors to Note
The company’s fourth-quarter performance is likely to have benefited from improvement in domestic operations, robust sports betting and pent-up demand. The company has also been benefiting from high domestic casino spending.
Recently, the company said that BetMGM ended fiscal 2022 on a strong note, establishing itself as the top player in this business in North America. The expected net revenues from operations of BetMGM in fiscal 2022 are $1.44 billion.
The Zacks Consensus Estimate for Las Vegas Strip and Regional operations’ revenues are pegged at $2,094 million and $917 million, suggesting year-over-year improvement of 15.9% and 1.9%, respectively. However, the Zacks Consensus Estimate for revenues in MGM China segment is pegged at $141 million compared with $315 million reported in the prior-year quarter.
However, high cost is likely to have negatively impacted the company’s profit in the quarter-to-be reported. Dismal performance of the company’s Macau operation has also been affecting the company’s performance.
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 +8.41%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some other stocks in the Zacks Consumer Discretionary sector, which according to our model, also have the right combination of elements to post an earnings beat.
Red Rock Resorts, Inc. (RRR - Free Report) has an Earnings ESP of +6.43% and a Zacks Rank #3.
Shares of Red Rock Resorts have gained 3.6% in the past year. RRR’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 66.7%.
Roku, Inc. (ROKU - Free Report) has an Earnings ESP of +1.97% and a Zacks Rank #3.
Shares of Roku have declined 61.8% in the past year. ROKU’s earnings surpassed the Zacks Consensus Estimate twice in the trailing four quarters and missed twice, the average surprise being 50.6%.
Planet Fitness, Inc. (PLNT - Free Report) has an Earnings ESP of +2.53% and a Zacks Rank #3.
Shares of Planet Fitness have declined 5.2% in the past year. PLNT’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 6.6%.
Image: Shutterstock
MGM Resorts (MGM) Gears Up for Q4 Earnings: What's in Store?
MGM Resorts International (MGM - Free Report) is scheduled to report fourth-quarter 2022 results on Feb 8, after the closing bell. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 731.8%.
Q4 Estimates
For the fourth quarter, the Zacks Consensus Estimate for a loss per share has narrowed to $1.60 from $1.63 in the past seven days. In the prior-year quarter, the company had reported adjusted earnings per share of 12 cents. The Zacks Consensus Estimate for revenues is pegged at $3.35 billion, suggesting growth of 9.6% from the year-ago quarter’s figure of $3.06 billion.
Factors to Note
The company’s fourth-quarter performance is likely to have benefited from improvement in domestic operations, robust sports betting and pent-up demand. The company has also been benefiting from high domestic casino spending.
Recently, the company said that BetMGM ended fiscal 2022 on a strong note, establishing itself as the top player in this business in North America. The expected net revenues from operations of BetMGM in fiscal 2022 are $1.44 billion.
The Zacks Consensus Estimate for Las Vegas Strip and Regional operations’ revenues are pegged at $2,094 million and $917 million, suggesting year-over-year improvement of 15.9% and 1.9%, respectively. However, the Zacks Consensus Estimate for revenues in MGM China segment is pegged at $141 million compared with $315 million reported in the prior-year quarter.
However, high cost is likely to have negatively impacted the company’s profit in the quarter-to-be reported. Dismal performance of the company’s Macau operation has also been affecting the company’s performance.
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 +8.41%. 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 stocks in the Zacks Consumer Discretionary sector, which according to our model, also have the right combination of elements to post an earnings beat.
Red Rock Resorts, Inc. (RRR - Free Report) has an Earnings ESP of +6.43% and a Zacks Rank #3.
Shares of Red Rock Resorts have gained 3.6% in the past year. RRR’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 66.7%.
Roku, Inc. (ROKU - Free Report) has an Earnings ESP of +1.97% and a Zacks Rank #3.
Shares of Roku have declined 61.8% in the past year. ROKU’s earnings surpassed the Zacks Consensus Estimate twice in the trailing four quarters and missed twice, the average surprise being 50.6%.
Planet Fitness, Inc. (PLNT - Free Report) has an Earnings ESP of +2.53% and a Zacks Rank #3.
Shares of Planet Fitness have declined 5.2% in the past year. PLNT’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 6.6%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.