MSC Studio City
Price Chart
Executive Summary
Studio City reported Q1 2026 revenue of $176.7M (+9.3% YoY) and swung to net income of $2.9M vs a $16.0M loss a year ago, driven by stronger mass-market casino performance and higher non-gaming revenue. Adjusted EBITDA rose 14.5% to $80.0M, but the company carries $2.01B in net debt with only $87M cash, and the stock has historically declined sharply following prior neutral reports.
Actionable Insight
The strong YoY improvement in revenue and profitability is a positive catalyst, but the heavy debt load and lack of guidance limit upside conviction. Watch for any commentary from parent Melco Resorts (MLCO) on Macau market trends and Studio City's Phase 2 expansion timeline.
Key Facts
- Q1 2026 total operating revenues $176.7M vs $161.7M YoY (+9.3%)
- Net income attributable to Studio City of $2.9M ($0.02/ADS) vs net loss of $16.0M ($0.08/ADS) YoY
- Adjusted EBITDA $80.0M vs $69.9M YoY (+14.5%)
- Casino contract revenue $87.0M vs $75.9M YoY (+14.6%)
- Gross gaming revenues $373.5M vs $336.2M YoY (+11.1%)
- Total debt net $2.01B, cash $87.0M, net debt $1.92B
- Capital expenditures $4.6M in Q1 2026
- No guidance provided in the release
Financial Impact
Revenue up $15M YoY, net income swing of +$18.9M YoY, Adjusted EBITDA up $10.1M
Risk Factors
- Net debt of $1.92B vs $87M cash leaves minimal liquidity buffer
- No forward guidance provided, limiting visibility
- Historical stock performance shows sharp declines after prior neutral reports on this ticker
- Dependence on Macau gaming market conditions and regulatory environment
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3284837 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 8, 2026
1d ago
|
6-K
| $2.29 awaiting T+5 | awaiting T+5 | — | $2.18 (−4.80%) |
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May 29, 2026
11d ago
|
6-K
| $2.39 $2.27 | ▼ −5.02% | ▼ −2.50% | $2.18 (−8.79%) |
|
May 15, 2026
25d ago
|
6-K
| $2.55 $2.33 | ▼ −8.63% | ▼ −10.25% | $2.18 (−14.51%) |
|
May 7, 2026
4w ago
|
6-K
| $2.70 $2.50 | ▼ −7.41% | ▼ −8.91% | $2.18 (−19.26%) |
|
May 6, 2026
4w ago
|
6-K
| $2.40 $2.40 | · 0.00% | ▼ −1.13% | $2.18 (−9.17%) |
|
May 6, 2026
4w ago
|
Press Release
| $2.40 $2.40 | · 0.00% | ▼ −1.13% | $2.18 (−9.17%) |
|
Apr 30, 2026
5w ago
|
Press Release
| $2.35 $2.40 | ▲ +2.13% | ▲ +0.40% | $2.18 (−7.23%) |
|
Apr 28, 2026
6w ago
|
6-K
| $2.52 $2.40 | ▼ −4.76% | ▼ −6.45% | $2.18 (−13.49%) |
|
Apr 28, 2026
6w ago
|
Press Release
| $2.52 $2.40 | ▼ −4.76% | ▼ −6.45% | $2.18 (−13.49%) |
|
Apr 24, 2026
6w ago
|
6-K
| $2.70 $2.35 | ▼ −12.96% | ▼ −13.87% | $2.18 (−19.26%) |
US Market Status
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