Las Vegas Sands (LVS)
NYSE:LVS
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Earnings Data
Report Date
Jul 22, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.79Last Year’s EPS
0.79Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a positive operational and financial trajectory driven by strong results at Marina Bay Sands (EBITDA +30% to $788M) and meaningful Macau recovery (EBITDA +18% to $633M), with market share gains, robust slot/retail growth, and aggressive share buybacks. Management acknowledged near-term margin pressure from service investments, VIP volatility, a competitive promotional environment, and higher CapEx tied to renovations. On balance the company highlighted execution wins, concrete growth initiatives (IR2, Venetian refresh), and capital return activity that indicate confidence in medium- to long-term value creation despite foreseeable near-term expense and volatility headwinds.Company Guidance
Entertainment and Venue Advantage
Entertainment programming contributed to performance: the Macau calendar had 11–12 shows in Q1. The company highlighted advantages from multiple venue sizes (Venetian Arena, Londoner Arena, performance theaters) to attract diverse acts and drive visitation.
Reinvestment Optimization Progress
Management reported optimization of reinvestment programs in Macau, enabling revenue and market share gains while stabilizing reinvestment levels sequentially. They noted a $15 million positive impact this quarter from higher-than-expected rolling hold (i.e., hold volatility benefited results).
Marina Bay Sands Strong Financial Performance
MBS EBITDA increased over 30% to $788 million for the quarter, with a margin of 53%. Rolling volume reached ~$18 billion and theoretical rolling hold was ~3.6%; management noted mass win and slots as the primary drivers of profitability. Management expects IR2 to expand high-end inventory and target project returns in excess of 20% ROIC.
Macau EBITDA Growth and Market Share Gains
Macau reported EBITDA of $633 million, an increase of over 18% year-over-year. The company gained revenue share in every segment both year-over-year and sequentially. Mass market revenue share reached 25.7%, the strongest since 2024.
Strong Slot/ETG and Retail Performance in Macau
Slots and ETG revenue in Macau grew 31% year-over-year and 10% sequentially. Tenant retail sales across Macau reached a quarterly all-time high, up 37%, with broad-based strength (notably jewelry, watches, and fashion).
Share Repurchases and Capital Return Actions
The company repurchased $740 million of Las Vegas Sands Corp. stock during the quarter and paid a recurring dividend of $0.30 per share. Over the last ten quarters the company has repurchased 14.3% of outstanding shares; ownership of SCL remained at 74.8% as of March 31, 2026.
Targeted Portfolio Investment Plan
Management outlined targeted investments in product and service across the portfolio — including a refresh at The Venetian (refreshed rooms coming into service in 2026, full project targeted by 2027 / late 2027–early 2028 for broader completion) — aimed at driving higher cash flow and premium demand.
Operational Execution and Service Focus
Management emphasized a three-pillar strategy (people, product, service). They are hiring additional customer-facing staff and investing in training to lift service levels, which management cites as already contributing to improved premium customer patronage and revenue growth.
LVS 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
LVS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 24, 2026 | $52.81 | $54.47 | +3.14% |
Jan 28, 2026 | $60.94 | $52.44 | -13.96% |
Oct 22, 2025 | $50.15 | $56.37 | +12.39% |
Jul 23, 2025 | $48.01 | $50.08 | +4.31% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Las Vegas Sands (LVS) report earnings?
Las Vegas Sands (LVS) is schdueled to report earning on Jul 22, 2026, After Close (Confirmed).
What is Las Vegas Sands (LVS) earnings time?
Las Vegas Sands (LVS) earnings time is at Jul 22, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LVS EPS forecast?
LVS EPS forecast for the fiscal quarter 2026 (Q2) is 0.79.
