EarningsQ2 2026 Earnings Report
MX:RHP Q2 2026 EPS Results
Actual EPS$25.70
Consensus EPS$23.72
Beat/MissBeat by +$1.97
One Year Ago EPS$20.27
MX:RHP Q2 2026 Revenue Results
Actual Revenue$13.55B
Expected Revenue$13.29B
Beat/MissBeat by +$260.37M
YoY Revenue Growth+13.56%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeAfter Close
Conference CallThursday, August 6, 2026
MX:RHP Upcoming Earnings
Ryman's next earnings date is estimated for November 2, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:RHP Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted multiple operational and financial positives: RevPAR and adjusted EBITDAre beats, strong group ADR and catering growth, record property-level performance, robust forward bookings and ADR on the books, notable JW portfolio and entertainment momentum, solid liquidity and disciplined cost management. The main negatives were manageable: macroeconomic uncertainty (rates/inflation), limited visibility into certain revenue streams (ICE, Marriott ITR impacts), an ongoing strategic review of OEG that introduces some uncertainty, and an accelerated capex cadence that increases near-term spend. Overall, the positive operational beats, strong booking and pricing trends, and record entertainment results significantly outweigh the limited and manageable headwinds.Company Guidance
RevPAR and Revenue Beats
Same-store RevPAR and total RevPAR growth beat expectations by ~2.5 percentage points each in Q2, driving a top-line-led adjusted EBITDAre outperformance of approximately $7 million versus plan.
Strong Group Pricing and Spend
Group ADR increased 7.5% year-over-year (about 3 points above expectations) and catering contribution per group room night rose nearly 13% YoY (~6.5 points above expectations), signaling higher-value group mix and stronger per-attendee spending.
Record Property Performance
Gaylord Palms, Gaylord Rockies and Gaylord National each achieved record second-quarter revenue; Gaylord Palms delivered its highest second-quarter adjusted EBITDAre on record.
Material Upside at Gaylord Palms
Higher-rated corporate group room nights at Gaylord Palms increased 31% YoY, producing a 63% increase in catering contribution per group room night and the property's highest Q2 catering contribution in its history.
Strong Forward Group Bookings and ADR on the Books
Booked >768,000 same-store gross group room nights for all future periods (up 6.7% YoY). ADR on those bookings reached a record ~ $310 (up 8.6% YoY and 2.3% above prior record); same-store group rooms revenue on the books for all future periods was up 8.8% YoY as of end of July.
Positive 2027/2028 Booking Trends
Group rooms revenue on the books for 2027 was 3.2% higher compared with the same time last year for 2026; 2028 was down just 50 basis points. ADR pace for both years is trending in the mid-single-digit range.
JW Marriott Portfolio Momentum
JW Desert Ridge delivered a strong quarter with group mix up nearly 13 points YoY and a RevPAR index share gain of 18 points YoY, demonstrating early success of the JW portfolio strategy and rotational group selling.
Entertainment Business Strength
Entertainment adjusted EBITDAre increased nearly 30% YoY to a new quarterly record, driven by festival outperformance and venue gains (Category 10 Nashville produced the highest revenue month ever for Ole Red/Category 10 in June).
Solid Liquidity and Manageable Leverage
Unrestricted cash of $366 million and $32 million restricted cash; corporate and OEG revolvers undrawn resulting in total available liquidity of nearly $1.3 billion. Net leverage (total consolidated net debt to adjusted EBITDAre) at quarter end was 4.2x.
Operational Discipline and Cost Management
Q2 achieved ~46% flow-through (target ~40%) on incremental revenue. Average wage rate rose ~3.8% YoY while wage margin was held roughly flat; procurement gains and productivity improvements helped control expenses. Guidance assumes ~3% operating expense growth at midpoint for same-store hospitality.
Capital Investment Progress
Topping off ceremony for Gaylord Opryland meeting space expansion; company expects to spend $400–$500 million in 2026 (about $50 million increase at midpoint) with projects on time and on budget and some 2027 projects accelerated into 2026 to minimize disruption.
MX:RHP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed