MGM RESORTS INTERNATIONAL Reports Fourth Quarter FY2022 Earnings Results as of December 31 2022.
March 24, 2023
Earnings Overview
MGM RESORTS INTERNATIONAL ($NYSE:MGM) reported fourth quarter earnings for the period ending on December 31 2022 on February 8 2023. The total revenue for the quarter was USD 284.0 million, representing a 116.8% increase year-over-year. Net income was USD 3592.2 million, a 17.5% increase from the same period in the previous year.
Transcripts Simplified
MGM Resorts reported strong fourth quarter results, with Las Vegas Strip same-store revenues and adjusted property EBITDAR up 11% and 6%, respectively, year-over-year. Occupancy in Las Vegas was 91% and ADR was $260, up 30%. Corporate expenses for the full year 2023 are expected to be between $380 million and $400 million, a decrease of approximately $30 million to $50 million from 2022. The company plans to invest approximately $800 million in domestic CapEx in 2023.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for MGM. More…
| Total Revenues | Net Income | Net Margin |
| 13.13k | 1.44k | -3.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for MGM. More…
| Operations | Investing | Financing |
| 1.76k | 2.12k | -3.02k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for MGM. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 45.69k | 40.32k | 12.75 |
Key Ratios Snapshot
Some of the financial key ratios for MGM are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.6% | -24.9% | 11.4% |
| FCF Margin | ROE | ROA |
| 7.6% | 19.4% | 2.1% |
Stock Price
MGM RESORTS INTERNATIONAL reported its fourth quarter earnings results as of December 31, 2022 on Wednesday. The company opened at $41.7 and closed at $41.4, which was a decrease of 1.3% from its previous closing price of 42.0. Overall, these results indicate that MGM RESORTS INTERNATIONAL is in a strong financial position heading into the new fiscal year. The revenue growth and increased EBITDA demonstrate that the company is well-positioned to capitalize on the growing demand for leisure activities and entertainment offerings in the coming years. Live Quote…
Analysis
GoodWhale’s analysis of MGM Resorts International’s financials shows that it is a medium risk investment both from a financial and business perspective. Our Risk Rating for MGM Resorts International takes into account a variety of factors such as its liquidity, leverage, and profitability. In addition, we have detected one risk warning in the income sheet. If you would like to learn more about this risk warning, register with us to get a deeper dive into the financials. More…
Peers
MGM Resorts International is one of the world’s leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay, The Mirage, and more. The company’s competitors include SkyCity Entertainment Group Ltd, Wyndham Hotels & Resorts Inc, and Cruzani Inc.
– SkyCity Entertainment Group Ltd ($NZSE:SKC)
SkyCity Entertainment Group Ltd is a casino and hospitality company based in New Zealand. The company has a market cap of 2B as of 2022 and a Return on Equity of 3.48%. SkyCity operates four casinos in New Zealand, two in Australia, and one in Chile. The company also has a number of hotels, restaurants, and bars.
– Wyndham Hotels & Resorts Inc ($NYSE:WH)
Wyndham Hotels & Resorts, Inc. is one of the largest hotel companies in the world, with over 9,000 hotels across more than 80 countries. The company offers a variety of hotel brands, including Wyndham, Ramada, Days Inn, Super 8, and Howard Johnson. Wyndham Hotels & Resorts is headquartered in Parsippany, New Jersey. The company’s market cap is 6.2B as of 2022 and its ROE is 30.65%.
Summary
MGM Resorts International has reported impressive financial results for the fourth quarter of FY2022, with total revenue increasing by 116.8% and net income rising 17.5%. This strong performance is a positive sign for potential investors and suggests that the company is well-positioned to capitalize on future opportunities. MGM’s ability to generate consistent growth over the past few quarters is a testament to its robust financial health and strategic initiatives. The company’s success in executing its plans and delivering consistent returns could make it a worthwhile investment opportunity.
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