MGM Resorts International (MGM) Q3 FY2021 earnings: revenue $2.7 billion, up 140.5% on the year
MGM Resorts International (MGM) reported revenue of $2.7 billion for Q3 FY2021, the quarter ended 30 September 2021, up 140.5% on the same quarter a year earlier. Net income was $1.4 billion, and diluted earnings per share $2.77. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2021.
Revenue
$2.7 billion
+140.5% on the year · +19.4% on the quarter
Q4 FY2019Q3 FY2021
Operating margin
69.9%
-44.0% a year earlier
Q4 FY2019Q3 FY2021
Net income
$1.4 billion
+1,189.2% on the quarter
Q4 FY2019Q3 FY2021
Diluted EPS
$2.77
+1,878.6% on the quarter
Q4 FY2019Q3 FY2021
this quarterthe same quarter a year earlierHover a bar for its figure.
Income statement (profit and loss)
$ million
Q3 FY2021
Q2 FY2021
Q3 FY2020
On the quarter
On the year
Last 8 quarters
Revenue
2,708
2,268
1,126
+19.4%
+140.5%
Selling, general and administrative
623
590
543
+5.6%
+14.7%
Operating income
1,893
264
-495
+617.6%
Operating margin
69.9%
11.6%
-44.0%
Interest expense
200
203
174
-1.3%
+15.1%
Pre-tax income
1,620
125
-679
+1,194.7%
Income tax
282
34.8
-76.7
+710.1%
Effective tax rate
17.4%
27.8%
n/a
Net income
1,350
105
-535
+1,189.2%
Net margin
49.9%
4.6%
-47.5%
Diluted EPS
$2.77
$0.14
-$1.08
+1,878.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q3 FY2021
Q2 FY2021
Q3 FY2020
On the quarter
On the year
Last 8 quarters
Operating cash flow
518
456
-164
+13.7%
Capital expenditure
139
104
37.4
+32.8%
+271.3%
Free cash flow
380
352
-201
+8.0%
Free cash flow margin
14.0%
15.5%
-17.9%
Cash from investing
1,951
-119
-69.6
Cash from financing
-2,523
-884
-8.0
Depreciation and amortisation
279
284
294
-1.5%
-5.1%
Share-based compensation
11.3
10.9
21.9
+3.9%
-48.6%
Buybacks
687
220
0.0
+211.5%
Dividends paid
1.2
1.2
1.2
-3.2%
-4.2%
Dividend per share
$0.00
$0.00
$0.00
0.0%
0.0%
Diluted shares, weighted
484m
495m
494m
-2.2%
-1.9%
Shares outstanding at period end
470m
487m
493m
-3.5%
-4.8%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q3 FY2021
Q2 FY2021
Q3 FY2020
On the quarter
On the year
Last 8 quarters
Shareholders' equity
6,830
6,180
6,861
+10.5%
-0.5%
Non-controlling interest
4,831
4,924
4,842
-1.9%
-0.2%
Redeemable equity
121
111
58.0
+9.3%
+108.3%
Debt
12,982
12,575
11,415
+3.2%
+13.7%
Operating lease liabilities
11,775
8,404
8,380
+40.1%
+40.5%
Finance lease liabilities
91.9
99.0
151
-7.2%
-39.3%
Other liabilities
4,708
4,484
5,298
+5.0%
-11.1%
Total liabilities and equity
41,338
36,776
37,005
+12.4%
+11.7%
Fixed assets
14,528
14,345
14,792
+1.3%
-1.8%
Goodwill
3,485
2,089
2,092
+66.8%
+66.6%
Intangible assets
3,669
3,546
3,698
+3.5%
-0.8%
Cash and equivalents
5,571
5,626
4,594
-1.0%
+21.3%
Receivables
532
431
328
+23.5%
+62.1%
Inventory
94.2
79.0
97.3
+19.2%
-3.2%
Other assets
13,459
10,661
11,403
+26.2%
+18.0%
Total assets
41,338
36,776
37,005
+12.4%
+11.7%
Questions
What was MGM Resorts International's revenue in Q3 FY2021?
MGM Resorts International (MGM) reported revenue of $2.7 billion for Q3 FY2021, the quarter ended 30 September 2021, up 140.5% on the same quarter a year earlier.
How much did MGM Resorts International earn in Q3 FY2021?
Net income for Q3 FY2021 was $1.4 billion, and diluted earnings per share $2.77.
When did MGM Resorts International report Q3 FY2021 results?
MGM Resorts International filed its 10-Q for the quarter ended 30 September 2021 with the SEC on 3 November 2021.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 September 2021, filed 3 November 2021: the filing.