MGM Resorts International is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: MGM Resorts reported Q1 FY2026 revenue of $4.45B (+4.2% YoY), but operating income fell 21.8% to $301M as SG&A costs surged 10.1%, compressing operating margin to 6.8% from 9.0% a year ago.
Drawn from management commentary in the Q1 2026 10-Q:
MGM grew total revenue by 4.2% YoY to $4.45B in Q1 FY2026 (vs. $4.28B in Q1 FY2025), indicating continued demand for its casino, hotel, and entertainment offerings across its domestic and international properties.
Operating income dropped 21.8% YoY to $301M from $385M, with operating margin contracting 230 basis points to 6.8%. The primary driver was a 10.1% surge in SG&A expenses to $1.28B (vs. $1.16B), suggesting elevated labor, marketing, or administrative costs outpacing revenue growth.
Net income fell 15.8% YoY to $125M, and diluted EPS declined to $0.48 from $0.51, reflecting the margin compression at the operating level partially offset by below-the-line items.
Revenue
$4.45B
++4.15% YoY
EPS (Basic)
$0.49
-5.77% YoY
Operating Income
$301.24M
-21.77% YoY
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