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.
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.
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MGM Resorts International (MGM) : Free Stock Analysis Report
