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MGM’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed on one occasion, the average surprise being 24%.
Trend in Estimate Revision of MGM
The Zacks Consensus Estimate for third-quarter earnings per share (EPS) is pegged at 13 cents, indicating a deterioration of 45.8% from 24 cents reported in the year-ago quarter.
MGM Resorts International Price, Consensus and EPS Surprise
For revenues, the consensus mark is pegged at nearly $4.25 billion, suggesting growth of 0.1% from the prior-year quarter’s figure.
Let's look at how things have shaped up in the quarter.
Factors Likely to Shape MGM Resorts’ Quarterly Results
MGM Resorts' third-quarter performance is likely to have benefited from continued momentum across its Las Vegas Strip Resorts, supported by group and convention bookings, premium gaming demand and an expanded entertainment calendar. Management highlighted a favorable group booking environment entering the quarter, alongside a larger calendar of sports and entertainment events compared with the year-ago period. These factors are expected to have supported casino activity, hotel demand and non-gaming spending.
The company's Las Vegas Strip Resorts are likely to have benefited from the recovery at MGM Grand, supported by renovated room inventory and favorable gaming trends. Continued demand for premium gaming experiences and investments in luxury offerings are expected to have aided performance. Management also highlighted encouraging trends in high-end customer spending, which may have supported gaming revenues and overall profitability in the quarter under review. The Zacks Consensus Estimate for third-quarter Las Vegas Strip revenues is pegged at $1.99 billion, compared with $1.98 billion reported in the prior-year quarter. Segment-adjusted property EBITDA is projected at $582 million, down from $601 million reported in the year-ago quarter.
MGM China's third-quarter performance is likely to have benefited from a recovery in gaming volumes following the temporary disruption caused by the World Cup in June. Continued investments in premium gaming facilities, renovated suites and luxury hospitality offerings are expected to have supported customer engagement and gaming activity. The recently upgraded suites at MGM Cotai and expanded premium gaming areas may also have strengthened the company's competitive position in Macao. However, higher intercompany branding fees may have weighed on segment profitability. MGM China’s adjusted property EBITDA is projected at $254 million, down from $284 million in the prior-year quarter.
Digital operations are likely to have supported revenue growth, driven by the launch of MGM Digital's proprietary sportsbook in Sweden and growing traction for BetMGM-branded offerings internationally. Encouraging trends in first-time deposits, active players and net gaming revenues in Brazil may also have aided performance. The consensus estimate for digital revenues is pegged at $207 million, up from $174 million a year ago.
However, softness in lower-end leisure demand may have weighed on Las Vegas hotel performance. Management acknowledged continued demand challenges at Luxor and Excalibur, despite some stabilization from value-oriented packages. Subdued international visitation, cautious spending among value-conscious consumers and seasonal fluctuations in leisure demand may also have constrained hotel revenues and gaming activity. Regional Operations' performance is likely to have reflected continued benefits from targeted capital investments and premium gaming upgrades. However, the absence of contributions from Northfield Park following its divestiture may have weighed on reported revenues and profitability. The consensus estimate for regional revenues is pegged at $870 million, down from $957 million reported in the prior-year quarter, while adjusted property EBITDA is expected to decline to $253 million from $296 million.
What Our Model Says About MGM Stock
Our proven model does not conclusively predict an earnings beat for MGM Resorts this time around. The company does not have the right combination of the two key ingredients, a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), to increase the odds of an earnings beat.
MGM’s Earnings ESP: MGM Resorts has an Earnings ESP of -22.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
MGM’s Zacks Rank: The company currently has a Zacks Rank #5 (Strong Sell).
Stocks Poised to Beat on Earnings
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
Cinemark Holdings, Inc. (CNK - Free Report) currently has an Earnings ESP of +4.49% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cinemark’s earnings for the to-be-reported quarter are expected to increase 127.5%. CNK reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average miss being negative 11.4%.
Rush Street Interactive, Inc. (RSI - Free Report) currently has an Earnings ESP of +2.44% and a Zacks Rank of 2.
RSI’s earnings for the to-be-reported quarter are expected to increase 55.6%. Rush Street Interactive reported better-than-expected earnings in the trailing two out of four quarters, missed estimates once and reported in line once, with the average surprise being 6.3%.
Marriott Vacations Worldwide Corporation (VAC - Free Report) has an Earnings ESP of +10.02% and a Zacks Rank of 3 at present.
Marriott Vacations is expected to register a 45% increase in earnings for the to-be-reported quarter. VAC reported better-than-expected earnings in the trailing three out of four quarters and missed once, with the average surprise being 1.3%.
View the Zacks #1 Rank List
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MGM Resorts to Report Q3 Earnings: What's in Store for the Stock?
Key Takeaways
MGM Resorts International (MGM - Free Report) is scheduled to report third-quarter 2026 results on Oct. 28, after the closing bell.
MGM’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed on one occasion, the average surprise being 24%.
Trend in Estimate Revision of MGM
The Zacks Consensus Estimate for third-quarter earnings per share (EPS) is pegged at 13 cents, indicating a deterioration of 45.8% from 24 cents reported in the year-ago quarter.
MGM Resorts International Price, Consensus and EPS Surprise
MGM Resorts International price-consensus-eps-surprise-chart | MGM Resorts International Quote
For revenues, the consensus mark is pegged at nearly $4.25 billion, suggesting growth of 0.1% from the prior-year quarter’s figure.
Let's look at how things have shaped up in the quarter.
Factors Likely to Shape MGM Resorts’ Quarterly Results
MGM Resorts' third-quarter performance is likely to have benefited from continued momentum across its Las Vegas Strip Resorts, supported by group and convention bookings, premium gaming demand and an expanded entertainment calendar. Management highlighted a favorable group booking environment entering the quarter, alongside a larger calendar of sports and entertainment events compared with the year-ago period. These factors are expected to have supported casino activity, hotel demand and non-gaming spending.
The company's Las Vegas Strip Resorts are likely to have benefited from the recovery at MGM Grand, supported by renovated room inventory and favorable gaming trends. Continued demand for premium gaming experiences and investments in luxury offerings are expected to have aided performance. Management also highlighted encouraging trends in high-end customer spending, which may have supported gaming revenues and overall profitability in the quarter under review. The Zacks Consensus Estimate for third-quarter Las Vegas Strip revenues is pegged at $1.99 billion, compared with $1.98 billion reported in the prior-year quarter. Segment-adjusted property EBITDA is projected at $582 million, down from $601 million reported in the year-ago quarter.
MGM China's third-quarter performance is likely to have benefited from a recovery in gaming volumes following the temporary disruption caused by the World Cup in June. Continued investments in premium gaming facilities, renovated suites and luxury hospitality offerings are expected to have supported customer engagement and gaming activity. The recently upgraded suites at MGM Cotai and expanded premium gaming areas may also have strengthened the company's competitive position in Macao. However, higher intercompany branding fees may have weighed on segment profitability. MGM China’s adjusted property EBITDA is projected at $254 million, down from $284 million in the prior-year quarter.
Digital operations are likely to have supported revenue growth, driven by the launch of MGM Digital's proprietary sportsbook in Sweden and growing traction for BetMGM-branded offerings internationally. Encouraging trends in first-time deposits, active players and net gaming revenues in Brazil may also have aided performance. The consensus estimate for digital revenues is pegged at $207 million, up from $174 million a year ago.
However, softness in lower-end leisure demand may have weighed on Las Vegas hotel performance. Management acknowledged continued demand challenges at Luxor and Excalibur, despite some stabilization from value-oriented packages. Subdued international visitation, cautious spending among value-conscious consumers and seasonal fluctuations in leisure demand may also have constrained hotel revenues and gaming activity. Regional Operations' performance is likely to have reflected continued benefits from targeted capital investments and premium gaming upgrades. However, the absence of contributions from Northfield Park following its divestiture may have weighed on reported revenues and profitability. The consensus estimate for regional revenues is pegged at $870 million, down from $957 million reported in the prior-year quarter, while adjusted property EBITDA is expected to decline to $253 million from $296 million.
What Our Model Says About MGM Stock
Our proven model does not conclusively predict an earnings beat for MGM Resorts this time around. The company does not have the right combination of the two key ingredients, a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), to increase the odds of an earnings beat.
MGM’s Earnings ESP: MGM Resorts has an Earnings ESP of -22.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
MGM’s Zacks Rank: The company currently has a Zacks Rank #5 (Strong Sell).
Stocks Poised to Beat on Earnings
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
Cinemark Holdings, Inc. (CNK - Free Report) currently has an Earnings ESP of +4.49% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cinemark’s earnings for the to-be-reported quarter are expected to increase 127.5%. CNK reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average miss being negative 11.4%.
Rush Street Interactive, Inc. (RSI - Free Report) currently has an Earnings ESP of +2.44% and a Zacks Rank of 2.
RSI’s earnings for the to-be-reported quarter are expected to increase 55.6%. Rush Street Interactive reported better-than-expected earnings in the trailing two out of four quarters, missed estimates once and reported in line once, with the average surprise being 6.3%.
Marriott Vacations Worldwide Corporation (VAC - Free Report) has an Earnings ESP of +10.02% and a Zacks Rank of 3 at present.
Marriott Vacations is expected to register a 45% increase in earnings for the to-be-reported quarter. VAC reported better-than-expected earnings in the trailing three out of four quarters and missed once, with the average surprise being 1.3%.