Melco Resorts Q2 revenue falls 6% on weaker gaming
MLCO•Outlook
- Melco Resorts expects REM hotel to begin phased opening in Q3 2026
- Company sees near-term headwinds but remains confident in long-term Macau outlook
- Company says demand in Macau is gaining momentum
Overview
- Integrated resort operator's Q2 revenue fell 6% yr/yr on weaker gaming and non-gaming results
- Net income attributable to Melco Resorts increased yr/yr
- Company repurchased 22.4 mln ADSs for $120.6 mln during the quarter
Key details
| Metric | Actual |
|---|---|
| Q2 Operating Revenue | $1.25 bln |
| Q2 Net Income attributable to Company | $22.70 mln |
| Q2 Operating Income | $127.78 mln |
| Q2 Pretax Profit | $18.25 mln |
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the casinos & gaming peer group is "buy"
- The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago
