MGM Resorts is showing signs of a Las Vegas Strip turnaround, supported by improving GGR data and recent sell-side upgrades. Q1 earnings were mixed, with a $78M revenue beat but an EPS miss due to non-operational one-offs; underlying trends remain positive. MGM Digital and China segments are growing, while Las Vegas Strip posted its first positive growth in six quarters, fueling optimism for 2024 EBITDA growth.
MGM (MGM) reported earnings 30 days ago. What's next for the stock?
MGM Resorts International was upgraded to Overweight by JPMorgan, which outlined stabilizing trends in Las Vegas. Data from early 2026 indeed shows an improvement in Las Vegas tourism trends. I believe that the improvement should be extrapolated cautiously. MGM's other segments have grown well, but with weakening profitability.
Shares of MGM Resorts International (MGM) surged on Wednesday after multiple Wall Street firms upgraded the casino operator. Analysts cited growing confidence that visitors and consumers are returning to the Las Vegas Strip following a prolonged period of weaker demand trends.
MGM Resorts Q1 revenues beats expectations as China and digital strength lift sales, but higher costs and margin pressure push earnings below estimates.
The headline numbers for MGM (MGM) give insight into how the company performed in the quarter ended March 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
MGM Resorts International (MGM) Q1 2026 Earnings Call Transcript
MGM Resorts (MGM) came out with quarterly earnings of $0.49 per share, missing the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.69 per share a year ago.
The hotel and casino operator logged a quarterly profit of $125.1 million, down from $148.6 million a year earlier.
MGM likely to report modest Q1 revenue growth on Las Vegas demand and digital strength, but earnings expected to fall amid margin pressure and softer trends.
Cwm LLC cut its holdings in shares of MGM Resorts International (NYSE: MGM) by 38.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,715 shares of the company's stock after selling 78,010 shares during the period. Cwm LLC's
MGM Resorts (MGM) is positioned for a near-term upside, with Q1 results likely to beat street estimates on both revenue and adjusted EBITDAR. Las Vegas Strip softness is offset by strong Macau growth and stable regional performance, supporting a projected 3% total revenue growth and $661M adjusted EBITDAR. MGM's premium asset base and global diversification justify a $50 price target, representing 20% upside as consistent earnings beats could drive a positive revision cycle.