Melco Resorts & Entertainment Limited (NASDAQ:MLCO) was trading higher on Thursday after the company reported second-quarter 2026 financial results that fell short of analyst expectations on both earnings and revenue.
The developer, owner, and operator of integrated resort facilities in Asia and Europe posted quarterly earnings of 6 cents per share, missing the analyst consensus estimate of 7 cents and down from 23 cents per share in the same period last year.
Revenue Declines On Softer Gaming Performance
Melco Resorts reported quarterly sales of $1.252 billion, below the analyst consensus estimate of $1.275 billion and down from $1.328 billion a year earlier, according to Benzinga Pro.
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Total operating revenues for the quarter were $1.25 billion, a decrease of approximately 6% from $1.33 billion in the comparable period of 2025. The company attributed the decline primarily to softer performance in rolling chip and mass market table games, along with weaker overall non-gaming operations.
Cash Position And Share Repurchases
Melco Resorts reported cash and cash equivalents of $912.893 million. Between April 1 and Aug. 12, the company repurchased approximately 22.4 million ADSs, representing approximately 67.1 million ordinary shares, from the open market for an aggregate purchase price of approximately $120.6 million. As of Aug. 12, Melco Resorts had remaining authority to repurchase up to approximately $589.6 million of its equity.
Management Weighs In On Macau Outlook
Lawrence Ho, Chairman and CEO, said, “We are confident in the long-term strength of our businesses and our outlook for Macau.” Ho noted that the company’s new hotel, REM, will begin its phased opening in the third quarter of 2026.
MLCO Stock Price Action
MLCO Stock Price Activity: Melco shares were up 1.09% at $5.58 on Thursday, according to Benzinga Pro data.
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