Equity Profile

VICI

VICI Properties Inc.

Real EstateOther Specialized REITs$29.1B

Jul29Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

VICI Properties Inc. is a real estate investment trust (REIT) that primarily focuses on acquiring and managing gaming, hospitality, and entertainment properties....

Key Metrics to Watch

EPS

Earnings per share (EPS) is critical as it reflects the company's profitability and is a key indicator for investors.

N/A

Revenue

Revenue figures will provide insight into the company's operational performance and growth trajectory.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

VICI Q2-2026 Earnings Preview

Context

Company Snapshot

VICI Properties Inc. is a real estate investment trust (REIT) that primarily focuses on acquiring and managing gaming, hospitality, and entertainment properties. With a market cap of $29 billion, it plays a significant role in the specialized REIT sector, benefiting from trends in consumer spending and the recovery of the leisure and entertainment industries post-pandemic.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+16.61%

Avg Stock Reaction

-0.54%

Last Quarter Recap

In Q1-2026, VICI Properties reported an EPS of $0.82, exceeding expectations by 35.54%. Despite this positive surprise, the stock saw a slight decline of 0.17% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, the market is cautiously optimistic about VICI's upcoming earnings, especially following a strong EPS surprise last quarter. However, there is uncertainty regarding revenue growth and occupancy rates.

Bull Case

If VICI can maintain or improve its EPS and show strong revenue growth, it could signal robust demand for its properties, leading to a positive market reaction.

Bear Case

Conversely, if the company fails to meet expectations for revenue or occupancy rates, it could lead to a negative reassessment of its growth prospects.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the occupancy rates be for the properties in Q2-2026?

Occupancy rates are crucial for revenue generation and can indicate the overall health of the company's property portfolio.

How does management view the outlook for revenue growth in the next quarter?

Management's perspective on revenue growth will provide insight into future performance and investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for VICI to exceed occupancy expectations due to a strong recovery in the entertainment sector.

Supporting Evidence

VICI's recent EPS surprise indicates stronger-than-expected operational performance.

The options market is pricing in a significant move, suggesting that traders anticipate volatility, which could indicate underlying strength.

Historical performance shows that VICI has a 75% EPS beat rate, suggesting potential for continued positive surprises.

Key Risk

If occupancy rates exceed 95%, it could challenge the current cautious outlook and drive the stock higher.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it follows a strong EPS surprise, and any deviation from expectations could significantly impact investor sentiment.

Bull Confirmed If

An EPS of $0.85 or higher, coupled with occupancy rates above 95%, would confirm the bull case.

Bear Confirmed If

An EPS below $0.70 or occupancy rates falling below 90% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±8.66%

Historical Avg

±0.8%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±8.7% while VICI has averaged ±0.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

17.3%

Calls (89K)P/C Ratio: 1.06Puts (45K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If VICI beats expectations, history suggests the stock could rise around 0.77% on the first day, confirming strong demand and management effectiveness.

In-Line / Cautious

If results are in line but cautious, the stock may see muted movement as investors await clearer guidance on future performance.

Miss

A miss could lead to a decline of approximately 0.44%, reflecting disappointment in the company's growth prospects.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on occupancy rates for the properties.
2Management's commentary on revenue growth expectations.
3Insights into the performance of newly acquired properties.
4Updates on any strategic initiatives or partnerships.
5Comments on market conditions affecting the gaming and hospitality sectors.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Jul27

DYNBMO

Dyne Therapeutics, Inc.

PreviewView

Jul27

ARLPBMO

Company Snapshot

VICI Properties Inc. is a real estate investment trust (REIT) that primarily focuses on acquiring and managing gaming, hospitality, and entertainment properties....

Key Metrics to Watch

EPS

Earnings per share (EPS) is critical as it reflects the company's profitability and is a key indicator for investors.

N/A

Revenue

Revenue figures will provide insight into the company's operational performance and growth trajectory.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

VICI Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+16.61%

Avg Stock Reaction

-0.54%

Last Quarter Recap

In Q1-2026, VICI Properties reported an EPS of $0.82, exceeding expectations by 35.54%. Despite this positive surprise, the stock saw a slight decline of 0.17% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If VICI can maintain or improve its EPS and show strong revenue growth, it could signal robust demand for its properties, leading to a positive market reaction.

Bear Case

Conversely, if the company fails to meet expectations for revenue or occupancy rates, it could lead to a negative reassessment of its growth prospects.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the occupancy rates be for the properties in Q2-2026?

Occupancy rates are crucial for revenue generation and can indicate the overall health of the company's property portfolio.

How does management view the outlook for revenue growth in the next quarter?

Management's perspective on revenue growth will provide insight into future performance and investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for VICI to exceed occupancy expectations due to a strong recovery in the entertainment sector.

Supporting Evidence

VICI's recent EPS surprise indicates stronger-than-expected operational performance.

The options market is pricing in a significant move, suggesting that traders anticipate volatility, which could indicate underlying strength.

Historical performance shows that VICI has a 75% EPS beat rate, suggesting potential for continued positive surprises.

Key Risk

If occupancy rates exceed 95%, it could challenge the current cautious outlook and drive the stock higher.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it follows a strong EPS surprise, and any deviation from expectations could significantly impact investor sentiment.

Bull Confirmed If

An EPS of $0.85 or higher, coupled with occupancy rates above 95%, would confirm the bull case.

Bear Confirmed If

An EPS below $0.70 or occupancy rates falling below 90% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±8.66%

Historical Avg

±0.8%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±8.7% while VICI has averaged ±0.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

17.3%

Calls (89K)P/C Ratio: 1.06Puts (45K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If VICI beats expectations, history suggests the stock could rise around 0.77% on the first day, confirming strong demand and management effectiveness.

In-Line / Cautious

If results are in line but cautious, the stock may see muted movement as investors await clearer guidance on future performance.

Miss

A miss could lead to a decline of approximately 0.44%, reflecting disappointment in the company's growth prospects.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on occupancy rates for the properties.
2Management's commentary on revenue growth expectations.
3Insights into the performance of newly acquired properties.
4Updates on any strategic initiatives or partnerships.
5Comments on market conditions affecting the gaming and hospitality sectors.