MGM Resorts International Meets on Revenues, Misses on EPS
MGM Resorts International (NYS: MGM) reported earnings on Oct. 31. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), MGM Resorts International met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased slightly and GAAP loss per share expanded.
Margins dropped across the board.
MGM Resorts International reported revenue of $2.25 billion. The 21 analysts polled by S&P Capital IQ foresaw revenue of $2.28 billion on the same basis. GAAP reported sales were 1.0% higher than the prior-year quarter's $2.23 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.23. The 23 earnings estimates compiled by S&P Capital IQ anticipated -$0.16 per share. GAAP EPS were -$0.37 for Q3 compared to -$0.25 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 35.1%, 30 basis points worse than the prior-year quarter. Operating margin was 8.0%, 70 basis points worse than the prior-year quarter. Net margin was -8.0%, 250 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.30 billion. On the bottom line, the average EPS estimate is -$0.21.
Next year's average estimate for revenue is $9.17 billion. The average EPS estimate is -$0.77.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,135 members out of 1,370 rating the stock outperform, and 235 members rating it underperform. Among 291 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 236 give MGM Resorts International a green thumbs-up, and 55 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MGM Resorts International is outperform, with an average price target of $13.17.
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The article MGM Resorts International Meets on Revenues, Misses on EPS originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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