What You Need To Know Ahead of MGM Resorts' Earnings Release

Las Vegas, Nevada-based MGM Resorts International (MGM) is a gaming and entertainment company operating in the United States and internationally. The company has a market cap of $12.1 billion and operates through four segments: Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital. 

MGM is expected to release its Q2 2026 earnings on Wednesday, July 29, after the market closes. Ahead of the event, analysts expect the company’s EPS to be $0.60 on a diluted basis, down 24.1% from $0.79 in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in two of its last four quarters, while missing on two other occasions.

For fiscal 2026, analysts project the company’s EPS to be $1.95, down 41.1% from $3.31 in fiscal 2025. However, its EPS is expected to rise by roughly 20.5% year over year (YoY) to $2.35 in fiscal 2027.          

MGM’s stock has surged 24.6% over the past 52 weeks, outperforming the S&P 500 Index’s ($SPX) 20.1% rise and the State Street Consumer Discretionary Select Sector SPDR ETF’s (XLY) 4.8% return during the same time frame.           

On Apr. 29, MGM stock declined 1.2% following the release of its mixed Q1 2026 earnings. The company’s revenue for the quarter amounted to $4.5 billion and surpassed the Street’s estimates. Moreover, its adjusted EPS came in at $0.49, which failed to touch Wall Street’s forecasts. 

Analysts are moderately optimistic about MGM, with the stock having a “Moderate Buy” rating overall. Among the 22 analysts covering the stock, nine are recommending a “Strong Buy,” 11 suggest a “Hold,” and two suggest a “Strong Sell.” MGM’s average analyst price target is $48.91, indicating an upside of 3.5% from the current levels.