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MGM Resorts posts record Q2 revenue as Las Vegas and digital drive growth
Edgen Stock·Jul 30 2026, 05:19Share to
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[1] MGM Resorts International Q2 Earnings Call Highlights (https://www.marketbeat.com/instant-alerts/mgm ...)[2] McGrath RentCorp (MGRC) Q2 2026 Earnings Call Transcript (https://seekingalpha.com/article/4927383-mcgr ...)[3] MGM Resorts Posts Higher 2Q Profit and Revenue Driven By Las Vegas (https://www.marketwatch.com/story/mgm-resorts ...)[4] MGM signals $1B annual Osaka spend in 2027-28 while targeting fall 2030 opening (https://seekingalpha.com/news/4621098-mgm-sig ...)[5] MGM Resorts gains after seeing momentum at Las Vegas resorts (https://www.msn.com/en-us/money/other/mgm-res ...)
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Jul 30 2026, 07:23
Parsons drops 22% as $118M in charges force guidance cut
Parsons Corp. reported second-quarter normalized adjusted EBITDA of $161 million, up 8% from a year earlier, as $118 million in non-recurring charges tied to portfolio exits and a weather-related joint-venture project prompted management to lower full-year guidance. "The quarter was highlighted by strong core operational performance," Chair, President and CEO Carey Smith said. The company's normalized adjusted EBITDA margin expanded 70 basis points to 10.1%, she said. Total revenue rose 8%, with Federal Solutions growing 11% on a normalized basis and Critical Infrastructure up 5%. The non-recurring items included a $77 million loss on two remote Federal Solutions contracts held for sale, a $41 million charge on a Critical Infrastructure joint-venture project disrupted by historic rainfall in June, and a $19 million gain from the sale of two advisory contracts. Parsons lowered its 2026 revenue outlook to a range of $6.2 billion to $6.5 billion, down $300 million at the midpoint from prior guidance. Adjusted EBITDA guidance was cut to $500 million to $560 million, reflecting the $118 million in charges. The company attributed $85 million of the revenue reduction to planned divestitures, $125 million to a lower infrastructure ramp and timing of new awards, and $90 million to Federal Solutions timing issues including a protest on a large new award. Contract awards totaled $1.9 billion in the quarter, up 24% from a year earlier, producing an enterprise book-to-bill ratio of 1.2 times. Federal Solutions bookings rose 51% year over year with a 1.3 times book-to-bill ratio, while Critical Infrastructure posted a 1.1 times ratio for its 23rd consecutive quarter at or above 1.0 times. Total backlog stood at $9.3 billion, with funded backlog of $6.6 billion up 6% year over year. Critical Infrastructure adjusted EBITDA increased 18% to $97 million, with margin expanding 140 basis points to 11.9%, driven by accretive growth in the Middle East and improved North American mix. Federal Solutions normalized adjusted EBITDA declined 5% to $64 million, with an 8.2% margin, as lower volume on a confidential contract and a greater mix of materials and subcontractor work weighed on results. Management expects Federal Solutions margin to expand to 9.4% in the second half, supported by product sales and acquisition contributions. Smith said the company sold two Systems Engineering and Technical Assistance contracts because the advisory work created a potential organizational conflict of interest with a development opportunity for an intelligence-community client that is "8 to 10 times larger" and carries stronger margins. Parsons also signed a letter of intent to exit two remote-location programs that faced staffing and supply-chain challenges. The stock fell 21.8% in the session, its steepest decline in recent history, as investors weighed the guidance reduction against the core operational strength. The company reaffirmed its target of converting more than 100% of adjusted EBITDA into free cash flow for the full year. Smith said Parsons continues to expect mid-single-digit or better growth from its 2026 base and 10 to 20 basis points of margin expansion, with demand across defense, cyber, space, transportation, water and Middle East infrastructure markets. Investors will watch the third-quarter earnings call for progress on the protested contract and the pace of the infrastructure ramp. This article is for informational purposes only and does not constitute investment advice.
Jul 30 2026, 07:21
Stellantis confirms 2026 guidance as turnaround lifts North America revenue
Stellantis confirmed its full-year 2026 guidance Wednesday as new model launches boosted revenue at its North America business. "Our turnaround is progressing as planned, with new products driving improved performance in our largest market," Chief Executive Officer Carlos Tavares said in a statement. The Jeep maker's North America revenue benefited from recent model launches, though the company did not disclose specific quarterly figures. The confirmation follows a period of restructuring aimed at addressing inventory imbalances and pricing pressures in the region. The reaffirmed guidance signals that management sees its cost-cutting and product renewal strategy gaining traction. Stellantis shares have faced pressure this year amid concerns about the pace of its recovery, with Piper Sandler analyst Alexander Potter recently cutting the stock to underweight with a $4 price target, down from $14. The company's North America business, which accounts for a significant portion of group profit, has been the focus of the turnaround. Stellantis has been refreshing its SUV and pickup lineup, including new Jeep models, to defend market share against rivals Ford Motor Co. and General Motors Co. Stellantis swung to a profit in the first half, driven by stronger shipments in North America, according to a Bloomberg report. The company has been working to reduce dealer inventories and adjust production to better match demand after a period of oversupply weighed on pricing. The guidance confirmation provides a floor for investor expectations as Stellantis executes its turnaround. The next catalyst for the stock will be second-half delivery numbers and any further updates on the pace of new model rollouts in North America. This article is for informational purposes only and does not constitute investment advice.
Jul 30 2026, 07:19
ASE Technology revenue jumps 26.7% as AI packaging demand surges
ASE Technology Holding Co. reported second-quarter net revenue of NT$191,064 million ($5.99 billion), up 26.7% from a year earlier and 10% sequentially, as demand for AI-related semiconductor packaging and testing services accelerated. "The results reflect broad-based growth across both our LEAP advanced packaging and mainstream ATM businesses," the company said in a statement. "AI-related demand remained a key driver, more than offsetting softness in traditional consumer markets." Revenue from the company's ATM (assembly, test, material) segment grew 9% to 11% quarter over quarter, in line with management's prior guidance. The EMS (electronic manufacturing services) business also posted year-over-year growth of at least 10%, supported by stronger demand for AI accelerator products and an improving product mix. The Zacks Consensus Estimate had pegged second-quarter revenue at $5.99 billion and earnings at 17 cents per share, a 54.55% increase from the prior-year period. ASE guided for gross margin improvement of 20 to 100 basis points sequentially and operating margin expansion of 50 to 120 basis points, with ATM gross margin expected at 26% to 27%. The results cement ASE's position as a key beneficiary of the AI infrastructure buildout. Shares of the Taipei-based company have surged about 128% year to date, reflecting investor confidence in its LEAP advanced packaging capacity and exposure to AI-driven chip demand. Investors will watch the company's third-quarter guidance for signs of sustained momentum as hyperscalers continue to expand AI server deployments. This article is for informational purposes only and does not constitute investment advice.