Advertisement
Canada markets closed
  • S&P/TSX

    22,167.03
    +59.95 (+0.27%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CAD/USD

    0.7382
    -0.0004 (-0.06%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • Bitcoin CAD

    94,671.05
    -660.88 (-0.69%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • RUSSELL 2000

    2,124.55
    +10.20 (+0.48%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • NASDAQ

    16,379.46
    -20.06 (-0.12%)
     
  • VOLATILITY

    13.01
    0.00 (0.00%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • CAD/EUR

    0.6847
    +0.0004 (+0.06%)
     

MGM (MGM) Reports Q4 Earnings: What Key Metrics Have to Say

For the quarter ended December 2022, MGM Resorts (MGM) reported revenue of $3.59 billion, up 17.5% over the same period last year. EPS came in at $0.69, compared to $0.12 in the year-ago quarter.

The reported revenue represents a surprise of +7.26% over the Zacks Consensus Estimate of $3.35 billion. With the consensus EPS estimate being -$1.60, the EPS surprise was +143.13%.

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.

ADVERTISEMENT

Here is how MGM performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Total Las Vegas Strip Resorts: $2.30 billion versus the four-analyst average estimate of $2.09 billion. The reported number represents a year-over-year change of +27.2%.

  • Revenue-MGM China: $174.72 million versus $141.42 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -44.5% change.

  • Revenue- Total Regional Operations: $991.45 million versus $917.41 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.2% change.

  • Adjusted Property EBITDA -Total Las Vegas Strip Resorts: $877.05 million compared to the $748.21 million average estimate based on five analysts.

  • Adjusted Property EBITDA- Total Regional Operations: $319.52 million compared to the $303.33 million average estimate based on five analysts.

  • Adjusted Property EBITDA- MGM China: -$54.98 million compared to the -$43.80 million average estimate based on five analysts.

  • Adjusted Property EBITDA- Unconsolidated resorts/affiliates: -$43.03 million versus -$32.55 million estimated by five analysts on average.

  • Adjusted Property EBITDA- Management and other operations: -$3.04 million compared to the $4.59 million average estimate based on five analysts.

  • Adjusted Property EBITDA- Corporate: -$113.06 million compared to the -$132.33 million average estimate based on four analysts.

View all Key Company Metrics for MGM here>>>

Shares of MGM have returned +8.1% over the past month versus the Zacks S&P 500 composite's +7% 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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

MGM Resorts International (MGM) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research