Filing Flows › MGM Resorts International (MGM) › Q1 2025
MGM Resorts International (MGM) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
MGM Resorts International (MGM) reported revenue of $4.3B for the first quarter 2025 (Q1 2025), -2% from a year earlier and -2% from the quarter before. Operating margin was 9.0%, net earnings $149M (3.5% of revenue).
MGM Resorts International, Q1 2025: revenue $4.3B (-2% year over year), operating margin 9.0%, net earnings $149M, operating cash flow $547M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.3B | -2% | -2% |
| Operating profit | $385M | +32% | -16% |
| Net earnings | $149M | -6% | -32% |
| Operating cash flow | $547M | -19% | -0.4% |
| Free cash flow | $319M | +19% | -15% |
What changed
Revenue was $4.3B in Q1 2025, down 2% year over year and down 2% from the previous quarter. Casino was the largest line at 53% of revenue. Rooms lost $0.09B year over year (down 10%), 87% of the total change.
Operating profit was $0.39B, a 9.0% margin (down 1.5 points year over year). Total costs fell 1% while revenue fell 2%. Net earnings were $0.15B, down 32% year over year. The effective tax rate was 15.0%.
Operating cash flow was $0.55B (roughly flat year over year), 241% of net income including minority interests. Non-cash charges added back $0.24B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.06B. Capital expenditures of $0.23B left free cash flow of $0.32B.
Questions
What was MGM Resorts International's revenue in the first quarter 2025?
MGM Resorts International (MGM) reported revenue of $4.3B for the first quarter 2025 (Q1 2025), -2% from a year earlier and -2% from the quarter before.
Was MGM Resorts International profitable in the first quarter 2025?
Operating profit was $385M (9.0% of revenue) and net earnings $149M.