MGM (MGM) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Viewpoint - MGM Resorts reported a revenue of $4.28 billion for the quarter ended March 2025, showing a year-over-year decline of 2.4% and an EPS of $0.69 compared to $0.74 a year ago, with a slight revenue surprise of +0.07% against estimates [1] Financial Performance - Total revenue from Las Vegas Strip Resorts was $2.18 billion, slightly below the average estimate of $2.19 billion, reflecting a year-over-year decline of 3.5% [4] - MGM China generated $1.03 billion in revenue, exceeding the estimated $978.78 million, but still down 2.7% year-over-year [4] - Total Regional Operations revenue was $900.42 million, slightly below the average estimate of $905.36 million, marking a year-over-year change of -1% [4] Adjusted Property EBITDA - Adjusted Property EBITDA for Total Las Vegas Strip Resorts was $811.16 million, surpassing the estimate of $764.75 million [4] - Adjusted Property EBITDA for Total Regional Operations was $279.04 million, compared to the average estimate of $269.25 million [4] - Adjusted Property EBITDA for MGM China was $285.57 million, exceeding the estimated $250.31 million [4] - Unconsolidated resorts/affiliates reported an Adjusted Property EBITDA of -$12.90 million, better than the estimate of -$16.24 million [4] - Management and other operations had an Adjusted Property EBITDA of $21.76 million, significantly higher than the average estimate of -$4.20 million [4] - Corporate Adjusted Property EBITDA was -$120.09 million, compared to the average estimate of -$113.80 million [4] - MGM Digital reported an Adjusted Property EBITDA of -$34.39 million, worse than the estimate of -$29.10 million [4] Stock Performance - MGM shares have returned +6.2% over the past month, contrasting with the Zacks S&P 500 composite's -0.2% change, although the stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance in the near term [3]