Q2 26 EPS
$0.59
BEAT +1.95%
Est. $0.58
Q2 26 Revenue
$4.45B
BEAT +0.78%
Est. $4.42B
vs S&P Since Q2 26
-8.0%
TRAILING MARKET
MGM -3.7% vs S&P +4.3%
Market Reaction
Did MGM Beat Earnings? Q2 2026 Results
MGM Resorts International posted a modest but clean beat in the second quarter of 2026, with adjusted EPS of $0.59 edging past the $0.58 consensus by 1.95% and revenue of $4.45 billion topping estimates by 0.78% on 1.1% year-over-year growth. The hea… Read more MGM Resorts International posted a modest but clean beat in the second quarter of 2026, with adjusted EPS of $0.59 edging past the $0.58 consensus by 1.95% and revenue of $4.45 billion topping estimates by 0.78% on 1.1% year-over-year growth. The headline story, however, is a tale of moving parts: GAAP net income surged to $292.43 million from $48.95 million a year ago, largely on the back of a $286.69 million net property transactions gain tied to asset dispositions, while Consolidated Adjusted EBITDA slipped to $610.39 million from $647.51 million, reflecting margin pressure at MGM China and Regional Operations. Las Vegas Strip Resorts were the operational bright spot, with revenue climbing 3% to $2.17 billion, fueled by a 29.6% table games win percentage. MGM Digital continued its momentum with 20% revenue growth to $196.31 million. Looking ahead, management pointed to the MGM Osaka integrated resort, targeted for a 2030 opening, and continued capital deployment toward Las Vegas luxury offerings as key growth drivers.
Key Takeaways
- • Record second quarter consolidated revenue
- • Second consecutive quarter of Las Vegas Strip Resorts year-over-year revenue growth
- • All-time best Regional Operations same-store quarterly revenue
- • 20% year-over-year revenue growth at MGM Digital
- • Strong Las Vegas Strip casino revenue up 17% driven by 29.6% table games win percentage
- • Segment Adjusted EBITDAR growth at Las Vegas Strip Resorts up 3%
MGM Forward Guidance & Outlook
MGM Resorts highlighted continued investment in MGM Osaka, on track for a 2030 opening, and signaled continued growth capital allocation toward Las Vegas luxury offerings. The company also referenced expectations for growth at MGM Digital, BetMGM North America Venture, and MGM China. The forward-looking statements also referenced expansion considerations in Dubai and the potential acquisition proposal from People Incorporated.
MGM YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
MGM Revenue by Segment
With YoY comparisons, source: SEC Filings
“MGM Resorts once again demonstrated the strength of our diversified portfolio with record second quarter consolidated revenue driven by a second consecutive quarter of year-over-year revenue growth for Las Vegas Strip Resorts, all-time best Regional Operations same-store quarterly revenue, and 20% year-over-year revenue growth at MGM Digital. Alongside this momentum in our existing operations, we continue to build for the future with investment in the largest integrated resort in the world, MGM Osaka, on track for 2030 opening, as well as returns on our digital businesses.”
— Bill Hornbuckle, Q2 2026 Earnings Press Release
MGM Earnings Trends
MGM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MGM EPS Trend
Earnings per share: estimate vs actual
MGM Revenue Trend
Quarterly revenue: estimate vs actual
MGM Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.58 | $0.59 | +1.95% | $4.45B | +0.78% |
| Q1 26 MISS | $0.53 | $0.49 | -7.83% | $4.45B | +1.79% |
| Q4 25 BEAT FY | $0.56 | $1.60 | +187.36% | $4.61B | +3.67% |
| FY Full Year | $2.26 | $3.31 | +46.38% | $17.54B | +0.92% |
| Q3 25 MISS | $0.30 | $0.24 | -19.84% | $4.25B | +0.30% |
| Q2 25 BEAT | $0.55 | $0.79 | +42.70% | $4.40B | +2.03% |
| Q1 25 BEAT | $0.46 | $0.69 | +51.45% | $4.28B | -0.16% |