Filing Flows › Vici Properties (VICI) › Q2 2026
Vici Properties (VICI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 29, 2026
Vici Properties (VICI) reported revenue of $1.1B for the second quarter 2026 (Q2 2026), +6% from a year earlier and +4% from the quarter before. Operating margin was 50.5%, net earnings $527M (49.7% of revenue).
Vici Properties, Q2 2026: revenue $1.1B (+6% year over year), operating margin 50.5%, net earnings $527M, operating cash flow $728M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +4% | +6% |
| Operating profit | $535M | -40% | -39% |
| Net earnings | $527M | -40% | -39% |
| Operating cash flow | $728M | +15% | +14% |
| Free cash flow | $728M | +15% | +14% |
What changed
Revenue was $1.1B in Q2 2026, up 6% year over year and up 4% from the previous quarter.
Operating profit was $0.53B, a 50.5% margin (down 37.7 points year over year). Operating profit fell $0.35B even though revenue rose $0.06B versus Q2 2025, so costs grew faster than sales. Total costs grew 346% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+420%). Net earnings were $0.53B, down 39% year over year. The effective tax rate was -0.1%.
Operating cash flow was $0.73B (up 14% year over year), 136% of net earnings. Non-cash charges added back $1.0M of depreciation and $4.6M of share-based compensation. Working capital and other items added $0.19B. Capital expenditures of $166K left free cash flow of $0.73B.
Questions
What was Vici Properties' revenue in the second quarter 2026?
Vici Properties (VICI) reported revenue of $1.1B for the second quarter 2026 (Q2 2026), +6% from a year earlier and +4% from the quarter before.
Was Vici Properties profitable in the second quarter 2026?
Operating profit was $535M (50.5% of revenue) and net earnings $527M.
Source: Vici Properties 10-Q on SEC EDGAR.