Subtext

MGM Resorts International MGM

SectorConsumer Discretionary
Transcripts33
Date range2017-04-27 – 2025-04-30
Calls charted33

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-18-9+0+9+182017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1 · Overall: +14.92017 Q2 · Overall: +14.72017 Q3 · Overall: +7.12017 Q4 · Overall: +12.82018 Q1 · Overall: +5.52018 Q2 · Overall: +5.22018 Q3 · Overall: +9.52018 Q4 · Overall: +9.42019 Q1 · Overall: +12.72019 Q2 · Overall: +14.82019 Q3 · Overall: +11.52019 Q4 · Overall: +9.92020 Q1 · Overall: +3.82020 Q2 · Overall: +6.62020 Q3 · Overall: +10.72020 Q4 · Overall: +8.12021 Q1 · Overall: +9.12021 Q2 · Overall: +13.92021 Q3 · Overall: +12.52021 Q4 · Overall: +15.12022 Q1 · Overall: +12.92022 Q2 · Overall: +12.62022 Q3 · Overall: +16.12022 Q4 · Overall: +9.22023 Q1 · Overall: +7.72023 Q2 · Overall: +10.42023 Q3 · Overall: +3.42023 Q4 · Overall: +4.62024 Q1 · Overall: +2.32024 Q2 · Overall: +9.82024 Q3 · Overall: +10.72024 Q4 · Overall: +14.92025 Q1 · Overall: +11.5
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-32-16+0+16+322017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1 · CEO: +18.32017 Q2 · CEO: +19.42017 Q3 · CEO: +12.62017 Q4 · CEO: +19.72018 Q1 · CEO: +10.82018 Q2 · CEO: +9.42018 Q3 · CEO: +14.12018 Q4 · CEO: +12.02019 Q1 · CEO: +19.62019 Q2 · CEO: +19.32019 Q3 · CEO: +16.12019 Q4 · CEO: +16.82020 Q1 · CEO: +5.02020 Q2 · CEO: +10.72020 Q3 · CEO: +14.32020 Q4 · CEO: +8.12021 Q1 · CEO: +16.72021 Q2 · CEO: +21.82021 Q3 · CEO: +18.22021 Q4 · CEO: +22.52022 Q1 · CEO: +20.62022 Q2 · CEO: +15.82022 Q3 · CEO: +28.02022 Q4 · CEO: +19.12023 Q1 · CEO: +13.42023 Q2 · CEO: +20.42023 Q3 · CEO: +11.72023 Q4 · CEO: +7.42024 Q1 · CEO: +7.02024 Q2 · CEO: +14.52024 Q3 · CEO: +12.92024 Q4 · CEO: +25.92025 Q1 · CEO: +20.72017 Q1 · CFO: +14.72017 Q2 · CFO: +10.02017 Q3 · CFO: -2.32017 Q4 · CFO: +14.92018 Q1 · CFO: +3.22018 Q2 · CFO: +5.92018 Q3 · CFO: +14.92018 Q4 · CFO: +6.42019 Q1 · CFO: +20.42019 Q2 · CFO: +16.22019 Q4 · CFO: +6.62020 Q1 · CFO: +15.22020 Q2 · CFO: +4.82020 Q3 · CFO: +9.62020 Q4 · CFO: +11.12021 Q1 · CFO: +8.12021 Q2 · CFO: +13.82021 Q3 · CFO: +9.42021 Q4 · CFO: +18.32022 Q1 · CFO: +13.92022 Q2 · CFO: +15.22022 Q3 · CFO: +12.92022 Q4 · CFO: +10.12023 Q1 · CFO: +8.22023 Q2 · CFO: +17.32023 Q3 · CFO: -4.42023 Q4 · CFO: +6.12024 Q1 · CFO: +1.52024 Q2 · CFO: +18.62024 Q3 · CFO: +17.52024 Q4 · CFO: +7.52025 Q1 · CFO: +9.1
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-39-19+0+19+392017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1 · Prepared remarks: +30.42017 Q2 · Prepared remarks: +32.02017 Q3 · Prepared remarks: +18.52017 Q4 · Prepared remarks: +26.72018 Q1 · Prepared remarks: +15.52018 Q2 · Prepared remarks: +9.52018 Q3 · Prepared remarks: +22.62018 Q4 · Prepared remarks: +17.62019 Q1 · Prepared remarks: +25.02019 Q2 · Prepared remarks: +18.32019 Q3 · Prepared remarks: +21.82019 Q4 · Prepared remarks: +21.62020 Q1 · Prepared remarks: +2.92020 Q2 · Prepared remarks: +16.72020 Q3 · Prepared remarks: +18.02020 Q4 · Prepared remarks: +12.72021 Q1 · Prepared remarks: +21.22021 Q2 · Prepared remarks: +22.92021 Q3 · Prepared remarks: +25.62021 Q4 · Prepared remarks: +24.82022 Q1 · Prepared remarks: +21.22022 Q2 · Prepared remarks: +19.92022 Q3 · Prepared remarks: +27.82022 Q4 · Prepared remarks: +22.12023 Q1 · Prepared remarks: +13.22023 Q2 · Prepared remarks: +31.62023 Q3 · Prepared remarks: +4.12023 Q4 · Prepared remarks: +20.42024 Q1 · Prepared remarks: +33.92024 Q2 · Prepared remarks: +23.72024 Q3 · Prepared remarks: +26.42024 Q4 · Prepared remarks: +25.32025 Q1 · Prepared remarks: +18.62017 Q1 · Q&A responses: +13.22017 Q2 · Q&A responses: +15.32017 Q3 · Q&A responses: +2.72017 Q4 · Q&A responses: +11.22018 Q1 · Q&A responses: +7.72018 Q2 · Q&A responses: +6.62018 Q3 · Q&A responses: +11.02018 Q4 · Q&A responses: +8.42019 Q1 · Q&A responses: +10.42019 Q2 · Q&A responses: +17.22019 Q3 · Q&A responses: +13.42019 Q4 · Q&A responses: +9.92020 Q1 · Q&A responses: +7.32020 Q2 · Q&A responses: +5.52020 Q3 · Q&A responses: +9.92020 Q4 · Q&A responses: +8.42021 Q1 · Q&A responses: +9.62021 Q2 · Q&A responses: +11.92021 Q3 · Q&A responses: +4.02021 Q4 · Q&A responses: +11.62022 Q1 · Q&A responses: +13.42022 Q2 · Q&A responses: +12.92022 Q3 · Q&A responses: +14.72022 Q4 · Q&A responses: +9.52023 Q1 · Q&A responses: +13.12023 Q2 · Q&A responses: +13.22023 Q3 · Q&A responses: +8.32023 Q4 · Q&A responses: +7.12024 Q1 · Q&A responses: +6.02024 Q2 · Q&A responses: +9.62024 Q3 · Q&A responses: +10.22024 Q4 · Q&A responses: +13.82025 Q1 · Q&A responses: +12.8
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$-1.85$0.78$3.402017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1: $1.322017 Q2: $1.422017 Q3: $1.532017 Q4: $1.462018 Q1: $1.512018 Q2: $1.582018 Q3: $1.302018 Q4: $1.352019 Q1: $1.362019 Q2: $1.302019 Q3: $1.372019 Q4: $1.522020 Q1: $0.872020 Q2: $-1.332020 Q3: $-1.262020 Q4: $-1.442021 Q1: $-1.492021 Q2: $-0.772021 Q3: $0.052021 Q4: $0.852022 Q1: $0.702022 Q2: $1.042022 Q3: $1.082022 Q4: $0.822023 Q1: $0.832023 Q2: $2.422023 Q3: $2.552023 Q4: $2.452024 Q1: $2.542024 Q2: $3.042024 Q3: $2.89

Forward P/E

-55.74407.91871.552017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1: 20.242017 Q2: 22.782017 Q3: 21.302017 Q4: 22.712018 Q1: 23.562018 Q2: 19.592018 Q3: 21.822018 Q4: 18.162019 Q1: 19.502019 Q2: 21.262019 Q3: 21.582019 Q4: 21.882020 Q1: 8.212020 Q2: 54.762021 Q3: 807.602021 Q4: 48.672022 Q1: 60.462022 Q2: 28.902022 Q3: 31.502022 Q4: 45.042023 Q1: 49.602023 Q2: 18.152023 Q3: 16.252023 Q4: 17.862024 Q1: 16.842024 Q2: 13.332024 Q3: 12.79

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2017 Q3 tone ↓ -7.6 fwd EPS ↑ +0.11 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q4 tone ↑ +5.7 fwd EPS ↓ -0.07 Tone rose while the forward EPS estimate was cut.
  • 2018 Q1 tone ↓ -7.3 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↑ +4.3 fwd EPS ↓ -0.28 Tone rose while the forward EPS estimate was cut.
  • 2019 Q2 tone ↑ +2.1 fwd EPS ↓ -0.06 Tone rose while the forward EPS estimate was cut.
  • 2019 Q3 tone ↓ -3.3 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +2.7 fwd EPS ↓ -2.20 Tone rose while the forward EPS estimate was cut.
  • 2023 Q3 tone ↓ -7.0 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -2.3 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-30+11.5——View →
2024 Q42025-02-12+14.9——View →
2024 Q32024-10-30+10.7$2.8912.8View →
2024 Q22024-07-31+9.8$3.0413.3View →
2024 Q12024-05-01+2.3$2.5416.8View →
2023 Q42024-02-13+4.6$2.4517.9View →
2023 Q32023-11-08+3.4$2.5516.2View →
2023 Q22023-08-02+10.4$2.4218.1View →