MGM (MGM) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
MGM Resorts (MGM) reported $4.38 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 21.8%. EPS of $1.06 for the same period compares to $0.69 a year ago.
The reported revenue represents a surprise of +6.88% over the Zacks Consensus Estimate of $4.09 billion. With the consensus EPS estimate being $0.67, the EPS surprise was +58.21%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MGM performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Las Vegas Strip Resorts - Occupancy: 91% versus the two-analyst average estimate of 94.3%.
Las Vegas Strip Resorts - Table Games Drop: $1,702 compared to the $1,608.99 average estimate based on two analysts.
Las Vegas Strip Resorts - Slots Handle: $6,516 versus the two-analyst average estimate of $6,839.24.
Las Vegas Strip Resorts - Average Daily Rate (ADR): $295 versus $252.29 estimated by two analysts on average.
Las Vegas Strip Resorts - Slots Win: $599 versus the two-analyst average estimate of $636.05.
Revenues- MGM China: $982.54 million versus the five-analyst average estimate of $849.82 million. The reported number represents a year-over-year change of +462.4%.
Revenues- Total Regional Operations: $873.41 million versus $892.69 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -11.9% change.
Revenues- Total Las Vegas Strip Resorts: $2.37 billion versus the five-analyst average estimate of $2.23 billion. The reported number represents a year-over-year change of +3.2%.
Revenues- Corporate and other/ Management and other operations: $149.11 million versus the five-analyst average estimate of $130.40 million.
Revenues- Rooms: $1.01 billion versus $914.90 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +12.5% change.
Revenues- Casino: $2.20 billion versus $1.89 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +42.3% change.
Revenues- Food and beverage: $727.86 million versus the two-analyst average estimate of $740.18 million. The reported number represents a year-over-year change of +2.4%.
View all Key Company Metrics for MGM here>>>
Shares of MGM have returned +11% over the past month versus the Zacks S&P 500 composite's +5.1% 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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MGM Resorts International (MGM) : Free Stock Analysis Report
