MGM Resorts International reported its second-quarter 2026 results on 29 July 2026, with record consolidated revenue of $4.45 billion and adjusted diluted earnings per share of $0.59. The outcome was mixed against analyst estimates: Zacks Equity Research said adjusted EPS missed its consensus, while a StockStory summary said revenue and adjusted EPS beat its collected analyst figures. The company said record second-quarter consolidated revenue was driven by Las Vegas Strip growth, all-time best Regional Operations same-store quarterly revenue and a 20% increase at MGM Digital.
Revenue and profit
MGM Resorts said consolidated revenue was $4.5 billion for the quarter ended 30 June 2026, an increase of 1% from the prior-year quarter, according to the company results announcement. Zacks Equity Research reported the exact figure as $4.45 billion, compared with $4.4 billion a year earlier. Net income attributable to MGM Resorts was $292 million, up from $49 million a year earlier, and diluted earnings per share were $1.11 compared with $0.18. Adjusted diluted EPS, which strips out items such as property transactions, goodwill impairment and foreign currency movements, was $0.59, down from $0.79 in the second quarter of 2025.
The company said consolidated Adjusted EBITDA was $610 million, below the $648 million recorded in the prior-year quarter. MGM Resorts described the result as record second-quarter consolidated revenue and said it was the second consecutive quarter of year-over-year Las Vegas Strip revenue growth.
Mixed analyst comparisons
According to Zacks Equity Research, adjusted EPS of $0.59 missed the Zacks Consensus Estimate of $0.63 per share, representing an earnings surprise of -6.35%. Revenue of $4.45 billion surpassed the Zacks Consensus Estimate by 0.37%. Zacks said MGM has topped consensus revenue estimates four times over the last four quarters, but has surpassed consensus EPS estimates only once.
A StockStory summary distributed via The Globe and Mail said MGM Resorts beat Q2 CY2026 sales expectations. Revenue came in 0.7% above analyst estimates of $4.42 billion, and non-GAAP profit of $0.59 per share was 1.9% above analysts’ consensus estimates of $0.58. However, StockStory reported adjusted EBITDA of $610.4 million missed analyst estimates of $1.19 billion by 48.6%, and operating margin improved to 11.3% from 9.2% a year earlier. Because providers use different consensus figures, the comparisons appear inconsistent.
Segment performance
Las Vegas Strip Resorts revenue was $2.2 billion, up 3% from $2.1 billion in the prior-year quarter, with Segment Adjusted EBITDAR up 3% to $735 million. Regional Operations revenue fell 4% to $924 million, but same-store revenue rose 3% to $904 million; same-store Segment Adjusted EBITDAR was flat at $271 million. MGM China revenue was relatively flat at $1.1 billion, while Segment Adjusted EBITDAR fell 15% to $257 million. MGM Digital revenue grew 20% to $196 million, though its Segment Adjusted EBITDAR loss widened to $31 million from $26 million.
Management comment
Bill Hornbuckle, president and chief executive, said: “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.”
Chief financial officer Jonathan Halkyard said the company would continue to allocate growth capital to drive significant returns on investment at its Las Vegas luxury offerings.
Share performance and outlook
Zacks said MGM shares had added about 26.6% since the beginning of 2026, versus an 8.5% gain for the S&P 500. It assigned a Zacks Rank #3 (Hold), noting estimate revisions ahead of the release were mixed. Zacks reported consensus estimates of $0.27 per share on $4.31 billion in revenues for the coming quarter, and $1.99 per share on $17.75 billion for the current fiscal year. StockStory said the stock remained flat at $45.50 immediately after reporting, with a market capitalisation of $11.82 billion.
