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Compared to Estimates, MGM (MGM) Q1 Earnings: A Look at Key Metrics
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MGM Resorts (MGM - Free Report) reported $4.38 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 13.2%. EPS of $0.74 for the same period compares to $0.44 a year ago.
The reported revenue represents a surprise of +4.81% over the Zacks Consensus Estimate of $4.18 billion. With the consensus EPS estimate being $0.60, the EPS surprise was +23.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how MGM performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Total Las Vegas Strip Resorts: $2.26 billion versus the four-analyst average estimate of $2.23 billion. The reported number represents a year-over-year change of +3.6%.
Revenues- Corporate and other/ Management and other operations: $162.95 million versus the four-analyst average estimate of $135.39 million.
Revenues- MGM China: $1.06 billion compared to the $921.73 million average estimate based on four analysts. The reported number represents a change of +71% year over year.
Revenues- Total Regional Operations: $909.48 million compared to the $911.41 million average estimate based on four analysts. The reported number represents a change of -3.8% year over year.
Adjusted Property EBITDA- Total Las Vegas Strip Resorts: $827.79 million versus $816.31 million estimated by five analysts on average.
Adjusted Property EBITDA- Total Regional Operations: $274.10 million versus the five-analyst average estimate of $268.44 million.
Adjusted Property EBITDA- MGM China: $301.19 million versus $264.54 million estimated by five analysts on average.
Adjusted Property EBITDA- Unconsolidated resorts/affiliates: -$27.83 million compared to the -$49.48 million average estimate based on five analysts.
Adjusted Property EBITDA- Management and other operations: -$2.85 million versus the four-analyst average estimate of $6.68 million.
Adjusted Property EBITDA- Corporate: -$110.82 million versus -$111.03 million estimated by four analysts on average.
Shares of MGM have returned -15% over the past month versus the Zacks S&P 500 composite's -4.1% 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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Compared to Estimates, MGM (MGM) Q1 Earnings: A Look at Key Metrics
MGM Resorts (MGM - Free Report) reported $4.38 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 13.2%. EPS of $0.74 for the same period compares to $0.44 a year ago.
The reported revenue represents a surprise of +4.81% over the Zacks Consensus Estimate of $4.18 billion. With the consensus EPS estimate being $0.60, the EPS surprise was +23.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how MGM performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Total Las Vegas Strip Resorts: $2.26 billion versus the four-analyst average estimate of $2.23 billion. The reported number represents a year-over-year change of +3.6%.
- Revenues- Corporate and other/ Management and other operations: $162.95 million versus the four-analyst average estimate of $135.39 million.
- Revenues- MGM China: $1.06 billion compared to the $921.73 million average estimate based on four analysts. The reported number represents a change of +71% year over year.
- Revenues- Total Regional Operations: $909.48 million compared to the $911.41 million average estimate based on four analysts. The reported number represents a change of -3.8% year over year.
- Adjusted Property EBITDA- Total Las Vegas Strip Resorts: $827.79 million versus $816.31 million estimated by five analysts on average.
- Adjusted Property EBITDA- Total Regional Operations: $274.10 million versus the five-analyst average estimate of $268.44 million.
- Adjusted Property EBITDA- MGM China: $301.19 million versus $264.54 million estimated by five analysts on average.
- Adjusted Property EBITDA- Unconsolidated resorts/affiliates: -$27.83 million compared to the -$49.48 million average estimate based on five analysts.
- Adjusted Property EBITDA- Management and other operations: -$2.85 million versus the four-analyst average estimate of $6.68 million.
- Adjusted Property EBITDA- Corporate: -$110.82 million versus -$111.03 million estimated by four analysts on average.
View all Key Company Metrics for MGM here>>>Shares of MGM have returned -15% over the past month versus the Zacks S&P 500 composite's -4.1% 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.