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Las Vegas Sands Prepares for Q3 Earnings: Key Insights Ahead
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Las Vegas Sands Corp.'s (LVS - Free Report) revenues are likely to decrease, while earnings are expected to remain flat year over year in third-quarter 2024.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
In the last reported quarter, earnings and revenues missed the Zacks Consensus Estimate by 6.8% and 2.7%, respectively. However, the metrics increased on a year-over-year basis by 19.6% and 8.6%, respectively.
How Are Estimates Placed for LVS’ Q3?
The Zacks Consensus Estimate for third-quarter earnings per share is pegged at 55 cents, in line with the year-ago quarter’s reported figure. In the past 30 days, estimate revisions have declined from 56 cents.
For revenues, the consensus mark is pegged at nearly $2.79 billion. The metric indicates a decline of 0.2% from the year-ago quarter’s figure.
Factors to Shape LVS’ Q3 Results
LVS' top line is expected to have declined slightly in the third quarter, primarily due to a slowdown in visitation recovery from pre-pandemic levels. Also, stiff competition, construction disruptions and inflationary pressures related to material and labor are likely to have negatively impacted the company's performance in the to-be-reported quarter. The Macao market, in particular, faces potential market share challenges due to excess supply.
For the to-be-reported quarter, our model predicts net revenues for Venetian Macao and Londoner Macao to decline 3.8% and 0.8%, respectively, year over year to $695.7 million and $514 million.
However, the recovery momentum in travel and tourism demand in Macao and Singapore, along with growth in non-gaming amenities, is likely to have aided LVS' performance in the to-be-reported quarter. Strength in the gaming, lodging and retail sectors, along with improvements in hotel occupancy, is likely to have contributed to results.
Our model predicts net revenues for Parisian Macao, The Plaza Macao and Four Seasons Macao, Sands Macao and Marina Bay Sands to witness growth of 0.5%, 15.7%, 9.4% and 9.1%, respectively, year over year to $245.2 million, $222.1 million, $90.8 million and $1,107.9 million.
We expect revenues from casino, rooms and food and beverage to rise 3.3%, 4.4% and 10.4%, respectively, year over year to $2,074.6 million, $357 million and $172.2 million.
Also, the company's plans to introduce significant policies to address the reduction in visitation recovery rate are likely to have positively impacted performance. These initiatives include expanding individual business schemes and relaxing visa regulations, which are expected to support growth in visitation.
What the Zacks Model Unveils
Our proven model predicts a likely earnings beat for Las Vegas Sands this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Las Vegas Sands has an Earnings ESP of +4.57%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some other stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these, too, have the right combination of elements to post an earnings beat this season.
AMC Entertainment Holdings, Inc. (AMC - Free Report) has an Earnings ESP of +84.00% and a Zacks Rank of 2 at present.
AMC is expected to register a 33.3% increase in earnings for the to-be-reported quarter. It reported better-than-expected earnings in two of the trailing four quarters and missed twice, the average negative surprise being 69.5%.
Bowlero Corp. currently has an Earnings ESP of +17.24% and a Zacks Rank of 3.
BOWL’s earnings missed the consensus mark in all the last four quarters. Earnings for the to-be-reported quarter are expected to decrease 50% year over year.
Boyd Gaming Corporation (BYD - Free Report) currently has an Earnings ESP of +2.53% and a Zacks Rank of 3.
BYD’s earnings for the to-be-reported quarter are expected to increase 3.68%. It reported better-than-expected earnings in two of the trailing four quarters and missed twice, the average surprise being 3.6%.
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Las Vegas Sands Prepares for Q3 Earnings: Key Insights Ahead
Las Vegas Sands Corp.'s (LVS - Free Report) revenues are likely to decrease, while earnings are expected to remain flat year over year in third-quarter 2024.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
In the last reported quarter, earnings and revenues missed the Zacks Consensus Estimate by 6.8% and 2.7%, respectively. However, the metrics increased on a year-over-year basis by 19.6% and 8.6%, respectively.
How Are Estimates Placed for LVS’ Q3?
The Zacks Consensus Estimate for third-quarter earnings per share is pegged at 55 cents, in line with the year-ago quarter’s reported figure. In the past 30 days, estimate revisions have declined from 56 cents.
Las Vegas Sands Corp. Price and EPS Surprise
Las Vegas Sands Corp. price-eps-surprise | Las Vegas Sands Corp. Quote
For revenues, the consensus mark is pegged at nearly $2.79 billion. The metric indicates a decline of 0.2% from the year-ago quarter’s figure.
Factors to Shape LVS’ Q3 Results
LVS' top line is expected to have declined slightly in the third quarter, primarily due to a slowdown in visitation recovery from pre-pandemic levels. Also, stiff competition, construction disruptions and inflationary pressures related to material and labor are likely to have negatively impacted the company's performance in the to-be-reported quarter. The Macao market, in particular, faces potential market share challenges due to excess supply.
For the to-be-reported quarter, our model predicts net revenues for Venetian Macao and Londoner Macao to decline 3.8% and 0.8%, respectively, year over year to $695.7 million and $514 million.
However, the recovery momentum in travel and tourism demand in Macao and Singapore, along with growth in non-gaming amenities, is likely to have aided LVS' performance in the to-be-reported quarter. Strength in the gaming, lodging and retail sectors, along with improvements in hotel occupancy, is likely to have contributed to results.
Our model predicts net revenues for Parisian Macao, The Plaza Macao and Four Seasons Macao, Sands Macao and Marina Bay Sands to witness growth of 0.5%, 15.7%, 9.4% and 9.1%, respectively, year over year to $245.2 million, $222.1 million, $90.8 million and $1,107.9 million.
We expect revenues from casino, rooms and food and beverage to rise 3.3%, 4.4% and 10.4%, respectively, year over year to $2,074.6 million, $357 million and $172.2 million.
Also, the company's plans to introduce significant policies to address the reduction in visitation recovery rate are likely to have positively impacted performance. These initiatives include expanding individual business schemes and relaxing visa regulations, which are expected to support growth in visitation.
What the Zacks Model Unveils
Our proven model predicts a likely earnings beat for Las Vegas Sands this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Las Vegas Sands has an Earnings ESP of +4.57%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks Poised to Beat Earnings Estimates
Here are some other stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these, too, have the right combination of elements to post an earnings beat this season.
AMC Entertainment Holdings, Inc. (AMC - Free Report) has an Earnings ESP of +84.00% and a Zacks Rank of 2 at present.
AMC is expected to register a 33.3% increase in earnings for the to-be-reported quarter. It reported better-than-expected earnings in two of the trailing four quarters and missed twice, the average negative surprise being 69.5%.
Bowlero Corp. currently has an Earnings ESP of +17.24% and a Zacks Rank of 3.
BOWL’s earnings missed the consensus mark in all the last four quarters. Earnings for the to-be-reported quarter are expected to decrease 50% year over year.
Boyd Gaming Corporation (BYD - Free Report) currently has an Earnings ESP of +2.53% and a Zacks Rank of 3.
BYD’s earnings for the to-be-reported quarter are expected to increase 3.68%. It reported better-than-expected earnings in two of the trailing four quarters and missed twice, the average surprise being 3.6%.