Revenue and EPS both grew YoY but missed consensus by small margins, suggesting the market may have expected stronger acceleration. The strong balance sheet with $137M cash and no debt, combined with ongoing buybacks and dividends, provides downside support. Monitor the next quarter for any deceleration in casino revenue growth (3.4% this quarter vs 5.3% in Q4 2025) and the outcome of the PCL construction litigation appeal.
Price Chart
Executive Summary
Monarch Casino & Resort reported record Q3 2026 net revenue of $146.3M (+2.4% YoY) and record Adjusted EBITDA of $56.0M (+2.1% YoY), with diluted EPS of $1.76 (+4.1% YoY). Revenue and EPS both grew year-over-year but fell short of consensus estimates (revenue $148.1M, EPS $1.79). The company maintained its $0.30 quarterly dividend and continued share repurchases, ending the quarter with $137.4M cash and no debt.
Key Financial Metrics
Key Facts
- Q3 2026 net revenue $146.3M, up 2.4% YoY from $142.8M
- Q3 2026 diluted EPS $1.76, up 4.1% YoY from $1.69
- Q3 2026 Adjusted EBITDA $56.0M, up 2.1% YoY from $54.8M
- Revenue of $146.3M missed consensus of $148.1M
- Diluted EPS of $1.76 missed consensus of $1.79
- Cash and cash equivalents $137.4M at Sep 30, 2026, up from $96.5M at Dec 31, 2025
- No borrowings against credit facility
- Declared $0.30 per share quarterly dividend payable Dec 15, 2026
- Repurchased 300,859 shares for $37M in Q3 2026
- 670,644 shares remain under repurchase authorization
- Adjusted EBITDA margin 38.3% in Q3 2026, near record levels
Financial Impact
Revenue miss of ~$1.8M vs consensus; EPS miss of $0.03 vs consensus; both modest shortfalls
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Casino | $82.8M | +3.4% |
| Food and beverage | $34.3M | +1.3% |
| Hotel | $22.7M | +0.9% |
| Other | $6.5M | +2.0% |
Risk Factors
- Ongoing PCL construction litigation with $74.6M judgment under appeal; $1.1M accrued in Q3 2026 for principal judgment
- Revenue growth decelerated to 2.4% from 4.1% in Q4 2025 and 4.4% in FY 2025
- SG&A expenses increased to 19.8% of revenue from 19.3% due to higher legal and employee costs
- Casino revenue growth slowed to 3.4% from 5.3% in Q4 2025
- Hotel revenue growth minimal at 0.9% YoY
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-006863 |
| Document: f8k_102726.htm | 0001171843-26-006863 |
| Document: 0001171843-26-006863-index-headers.html | 0001171843-26-006863 |
| Document: 0001171843-26-006863-index.html | 0001171843-26-006863 |
| Document: 0001171843-26-006863.txt | 0001171843-26-006863 |
| 8-K Data (Synthetic) | 0001171843-26-006863 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 4d ago | 8-K | No price | awaiting T+60 | awaiting T+60 | No price |
Oct 27, 2026 4d ago | Press Release | $112.26 | awaiting T+60 | awaiting T+60 | $110.54 (−1.53%) |
Jul 20, 2026 14w ago | Press Release | $117.45 $115.84 | ▼ −1.37% | ▼ −5.34% | $110.54 (−5.88%) |
Apr 21, 2026 27w ago | Press Release | $114.24 $123.03 | ▲ +7.69% | ▲ +2.91% | $110.54 (−3.24%) |
Apr 13, 2026 28w ago | DEFA14A | $97.96 $126.13 | ▲ +28.76% | ▲ +19.83% | $110.54 (+12.84%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers