Hospitality and casino entertainment company MGM Resorts (NYSE:MGM) will be reporting results tomorrow after market hours. Here's what investors should know.

MGM Resorts beat analysts' revenue expectations by 5.8% last quarter, reporting revenues of $4.38 billion, up 21.8% year on year. It was a very strong quarter for the company, with revenue, EPS and free cash flow exceeding expectations.

Is MGM Resorts a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting MGM Resorts's revenue to grow 9.1% year on year to $4.23 billion, slowing from the 35.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.58 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MGM Resorts has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 5.1% on average.

Looking at MGM Resorts's peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Monarch delivered year-on-year revenue growth of 4.3%, meeting analysts' expectations, and Boyd Gaming reported flat revenue, in line with consensus estimates. Monarch traded down 3.9% following the results while Boyd Gaming was also down 15.4%.

Read our full analysis of Monarch's results here and Boyd Gaming's results here.

Growth stocks have been quite volatile since the start of 2024, and while some of the consumer discretionary stocks have fared somewhat better, they have not been spared, with share prices down 6.2% on average over the last month. MGM Resorts is down 12.8% during the same time and is heading into earnings with an average analyst price target of $55.2 (compared to the current share price of $41.68).

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