MGM Resorts International Third Quarter 2024 Earnings: EPS Beats Expectations

MGM Resorts International (NYSE:MGM) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$4.17b (up 5.3% from 3Q 2023).
• Net income: US$184.4m (up 14% from 3Q 2023).
• Profit margin: 4.4% (up from 4.1% in 3Q 2023).
• EPS: US$0.61 (up from US$0.46 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

MGM Resorts International EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.4%.

Looking ahead, revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Hospitality industry in the US.

Performance of the American Hospitality industry.

The company's shares are down 8.6% from a week ago.

Valuation

Following the latest earnings results, MGM Resorts International may be undervalued based on 6 different valuation benchmarks we assess. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.

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