The strong earnings beat and new $500M buyback program are clearly positive, but the $375M IP acquisition from a related party and $6.67B debt load warrant monitoring for leverage concerns. Watch the conference call for guidance on Macau recovery trajectory and Cyprus conflict impact.
Price Chart
Executive Summary
Melco Resorts reported Q1 2026 EPS of $0.20 per ADS, beating the $0.09 consensus by 122%, and revenue of $1.37B (+11% YoY) vs. $1.33B consensus. The beat was driven by strong mass market performance across Macau properties, with Adjusted Property EBITDA up 12% YoY to $381M. The company also announced a new $500M share repurchase program and a $375M acquisition of intellectual property from Melco International, partially offsetting positive sentiment.
Key Financial Metrics
Key Facts
- Q1 2026 EPS of $0.20 per ADS vs. consensus $0.09 (beat by 122%)
- Revenue $1.37B vs. consensus $1.33B, up 11% YoY from $1.23B
- Adjusted Property EBITDA $381M, up 12% YoY from $341M
- Operating income $179M vs. $144.9M YoY, up 23.5%
- Net income attributable to Melco $76.8M vs. $32.5M YoY, up 136%
- New $500M share repurchase program approved, effective immediately
- Acquisition of IP from Melco International for $375M cash
- Total debt $6.67B, cash $1.07B, available liquidity $2.36B
- City of Dreams Macau Property EBITDA up 12% YoY to $214.4M
- City of Dreams Manila Property EBITDA up 24% YoY to $37.4M
Financial Impact
EPS beat of $0.11 per ADS (122% above consensus) and revenue beat of ~$40M (3% above consensus) on $1.37B revenue base
Risk Factors
- $375M cash acquisition of IP from related party Melco International may raise governance concerns
- Total debt of $6.67B remains elevated relative to $1.07B cash
- Cyprus operations impacted by Middle East conflicts, Property EBITDA down 23% YoY
- Mocha segment revenue halved YoY due to casino closures and government mandates
- Share count declining via buybacks but still 1.17B shares outstanding
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3284836 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 28, 2026 5w ago | 6-K | $5.32 $4.67 | ▲ +12.22% | ▲ +12.48% | $4.19 (+21.24%) |
Aug 14, 2026 7w ago | 6-K | $5.60 $4.81 | ▼ −14.11% | ▼ −12.12% | $4.19 (−25.18%) |
Aug 13, 2026 7w ago | Press Release | $5.50 $5.05 | ▼ −8.18% | ▼ −6.43% | $4.19 (−23.82%) |
Aug 7, 2026 8w ago | 6-K | $5.52 $5.21 | ▼ −5.62% | ▼ −5.22% | $4.19 (−24.09%) |
Jun 9, 2026 16w ago | 6-K | $5.62 $5.26 | ▼ −6.41% | ▼ −7.85% | $4.19 (−25.44%) |
May 29, 2026 18w ago | 6-K | $5.56 $5.38 | ▼ −3.24% | ▼ −1.44% | $4.19 (−24.64%) |
Apr 30, 2026 22w ago | 6-K | $5.77 $5.54 | ▼ −3.99% | ▼ −8.95% | $4.19 (−27.38%) |
Apr 30, 2026 22w ago | Press Release | $5.77 $5.54 | ▼ −3.99% | ▼ −8.95% | $4.19 (−27.38%) |
Apr 28, 2026 22w ago | 6-K | $5.55 $5.53 | ▼ −0.36% | ▼ −5.82% | $4.19 (−24.50%) |
Apr 28, 2026 22w ago | Press Release | $5.55 $5.53 | ▼ −0.36% | ▼ −5.82% | $4.19 (−24.50%) |
US Market Status
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