10-Q · July 28, 2026
Monarch delivered solid Q2 growth, with revenue up 4.2% to $142.6 million, operating income up to $38.6 million from $34.9 million, and diluted EPS up 23.6% to $1.78. Hotels were the principal growth engine, while…
Earnings analysis · 10-Q
MCRI earnings analysis
Filed October 30, 2026 · Our reading of the company's report
The latest report
Monarch delivered Q3 revenue of $146.265 million and diluted EPS of $1.76, with both metrics higher year over year but below consensus. Revenue increased approximately 2.3% sequentially and year over year, while EPS…
Read full summary
Monarch delivered Q3 revenue of $146.265 million and diluted EPS of $1.76, with both metrics higher year over year but below consensus. Revenue increased approximately 2.3% sequentially and year over year, while EPS declined approximately 1.1% sequentially and rose approximately 4.1% year over year. The company ended the quarter with $0 outstanding under its credit facility and continued repurchases, but the $74.628 million PCL judgment and the earnings miss remain material concerns. No quantitative revenue or EPS guidance was provided.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.76
What stood out
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Revenue increased year over year
Q3 revenue was $146.265 million, up approximately 2.3% from $143 million in Q2 2026 and approximately 2.3% from $143 million in Q3 2025. Revenue was $1.595 million below the $147.860 million consensus estimate.
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EPS grew year over year, missed estimate
Diluted EPS was $1.76, down from $1.78 in Q2 2026 but up from $1.69 in Q3 2025. EPS missed the $1.82 consensus estimate by $0.06.
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No outstanding credit-facility debt
The company had $0 outstanding under its Amended Credit Facility as of September 30, 2026, reducing current interest-rate exposure from funded debt.
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Continued share repurchases
Monarch repurchased 300,859 shares during Q3 at an average price of $123.07, leaving 670,644 shares available under the repurchase authorization at quarter-end.
What to watch
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PCL litigation exposure remains material
The $74.628 million PCL judgment and related accrual remain a material litigation exposure and could affect liquidity or future earnings if the outcome or payment requirements change.
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Quarterly results missed estimates
Q3 revenue of $146.265 million and diluted EPS of $1.76 missed consensus estimates of $147.860 million and $1.82, respectively, indicating execution or demand risk despite year-over-year growth.
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No new risk-factor changes disclosed
The filing states there were no material changes to the risk factors disclosed in the 2025 Form 10-K; therefore, no new quantified risk-factor change was identified in this quarter’s filing.
Management's outlook
No quantitative revenue or EPS guidance was provided in the 10-Q. Management indicated that free cash flow is expected to support investments, share repurchases and dividends, subject to identified risks; outlook was otherwise deferred to the earnings release/call.
Earlier filings 4
10-Q · April 30, 2026
Monarch Casino reported strong Q1 2026 results with revenue of $136.6 million, increasing 8.9% year-over-year. Diluted EPS also rose significantly to $1.52, marking a 44.8% increase year-over-year, driven by growth…
10-K · February 24, 2026
Monarch reported full-year 2025 net revenues of $545,125 (in thousands), up from $522,186 in 2024, with income from operations rising to $127,495 (in thousands) and net income of $101,392 (in thousands), driving diluted…
10-Q · July 29, 2025
Monarch reported Q2 net revenues of $136,914,000, up from $128,143,000 in Q2 2024 (+$8.8M, ~6.8%), with income from operations rising to $34,899,000 (vs $29,513,000). Diluted EPS was $1.44 (vs $1.19 prior year), and the…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.