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MGM (MGM) Reports Q3 Earnings: What Key Metrics Have to Say
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MGM Resorts (MGM - Free Report) reported $4.18 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 5.3%. EPS of $0.54 for the same period compares to $0.64 a year ago.
The reported revenue represents a surprise of -0.89% over the Zacks Consensus Estimate of $4.22 billion. With the consensus EPS estimate being $0.58, the EPS surprise was -6.90%.
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.
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- Corporate and other/ Management and other operations: $169.32 million versus $151.26 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +30.4% change.
Revenues- MGM China: $929.46 million versus $943.58 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change.
Revenues- Total Regional Operations: $952.15 million compared to the $950.05 million average estimate based on four analysts. The reported number represents a change of +2.9% year over year.
Revenues- Total Las Vegas Strip Resorts: $2.13 billion versus $2.14 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.3% change.
Adjusted Property EBITDA- Total Las Vegas Strip Resorts: $731.04 million compared to the $743.28 million average estimate based on five analysts.
Adjusted Property EBITDA- Total Regional Operations: $299.99 million versus $296.27 million estimated by five analysts on average.
Adjusted Property EBITDA- MGM China: $237.36 million versus $259.74 million estimated by five analysts on average.
Adjusted Property EBITDA- Unconsolidated resorts/affiliates: $5.29 million compared to the -$33.33 million average estimate based on five analysts.
Adjusted Property EBITDA- Management and other operations: -$9.02 million compared to the -$0.65 million average estimate based on five analysts.
Adjusted Property EBITDA- Corporate: -$116.33 million compared to the -$112.60 million average estimate based on four analysts.
Shares of MGM have returned +8.7% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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MGM (MGM) Reports Q3 Earnings: What Key Metrics Have to Say
MGM Resorts (MGM - Free Report) reported $4.18 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 5.3%. EPS of $0.54 for the same period compares to $0.64 a year ago.
The reported revenue represents a surprise of -0.89% over the Zacks Consensus Estimate of $4.22 billion. With the consensus EPS estimate being $0.58, the EPS surprise was -6.90%.
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.
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- Corporate and other/ Management and other operations: $169.32 million versus $151.26 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +30.4% change.
- Revenues- MGM China: $929.46 million versus $943.58 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change.
- Revenues- Total Regional Operations: $952.15 million compared to the $950.05 million average estimate based on four analysts. The reported number represents a change of +2.9% year over year.
- Revenues- Total Las Vegas Strip Resorts: $2.13 billion versus $2.14 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.3% change.
- Adjusted Property EBITDA- Total Las Vegas Strip Resorts: $731.04 million compared to the $743.28 million average estimate based on five analysts.
- Adjusted Property EBITDA- Total Regional Operations: $299.99 million versus $296.27 million estimated by five analysts on average.
- Adjusted Property EBITDA- MGM China: $237.36 million versus $259.74 million estimated by five analysts on average.
- Adjusted Property EBITDA- Unconsolidated resorts/affiliates: $5.29 million compared to the -$33.33 million average estimate based on five analysts.
- Adjusted Property EBITDA- Management and other operations: -$9.02 million compared to the -$0.65 million average estimate based on five analysts.
- Adjusted Property EBITDA- Corporate: -$116.33 million compared to the -$112.60 million average estimate based on four analysts.
View all Key Company Metrics for MGM here>>>Shares of MGM have returned +8.7% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.