Melco (MLCO) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Melco Resorts (MLCO) reported $1.11 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 55.3%. EPS of $0.04 for the same period compares to -$0.14 a year ago.

The reported revenue represents a surprise of +3.93% over the Zacks Consensus Estimate of $1.07 billion. With the consensus EPS estimate being $0.02, the EPS surprise was +100.00%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Melco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Average Daily Rate - Altira Macau: $133 versus $134.05 estimated by two analysts on average.

• Average Daily Rate - City of Dreams: $206 versus the two-analyst average estimate of $211.30.

• Revenue Per Available Room - City of Dreams: $194 compared to the $199.62 average estimate based on two analysts.

• Occupancy Rate - City of Dreams: 94% compared to the 94.5% average estimate based on two analysts.

• Revenue Per Available Room - Altira Macau: $126 compared to the $119.72 average estimate based on two analysts.

• Occupancy Rate - Altira Macau: 94% versus the two-analyst average estimate of 89%.

• Net Revenue- Mocha and Other: $31.90 million versus the two-analyst average estimate of $30.71 million. The reported number represents a year-over-year change of +6.3%.

• Net Revenue- Altira Macau: $34.20 million compared to the $34.97 million average estimate based on two analysts. The reported number represents a change of +43.7% year over year.

• Net Revenue- City of Dreams Manila: $110.70 million versus $110.77 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -17% change.

• Net Revenue- Studio City: $331.40 million compared to the $302.16 million average estimate based on two analysts. The reported number represents a change of +133.1% year over year.

• Net Revenue- City of Dreams: $550.90 million versus $547.47 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +53.8% change.

• Adjusted EBITDA- Mocha and Other: $7.47 million compared to the $6.55 million average estimate based on two analysts.

View all Key Company Metrics for Melco here>>>

Shares of Melco have returned -11.6% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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