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What Should You Expect From Las Vegas Sands' Q4 Earnings?

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Key Takeaways

  • LVS is set to report Q4 results with EPS seen at 78 cents and revenues at $3.3B, up year over year.
  • Las Vegas Sands may benefit from Marina Bay Sands demand, as high-value tourists lift mass and premium gaming.
  • LVS' Macau recovery and Londoner Grand could lift EBITDA, though higher costs may pressure margins.

Las Vegas Sands Corp. (LVS - Free Report) is scheduled to report fourth-quarter 2025 results on Jan. 28, 2026, after the closing bell.

LVS’ earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, and missed on two occasions, the average surprise being 14.5%.

Trend in the Estimate Revision of LVS

The Zacks Consensus Estimate for fourth-quarter earnings per share (EPS) is pegged at 78 cents, indicating a rise of 44.4% from 54 cents reported in the year-ago quarter.

Las Vegas Sands Corp. Price and EPS Surprise

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 $3.3 billion. The metric suggests an increase of 14.9% from the year-ago quarter’s figure.

Let’s take a look at how things have shaped up in the quarter.

Factors Likely to Shape Las Vegas Sands’ Q4 Results

Las Vegas Sands’ fourth-quarter 2025 performance is likely to be supported by sustained strength in high-value visitation, particularly in Singapore, driven by continued momentum at Marina Bay Sands. Mass gaming may remain a key revenue driver, benefiting from robust visitation and favorable gaming dynamics. Meanwhile, ongoing improvement in Macao, supported by premium mass growth, resilient travel demand, and disciplined reinvestment and marketing initiatives, is likely to sustain momentum and contribute meaningfully to overall revenue growth.

Marina Bay Sands is expected to see continued growth, driven by high-value tourists and strong demand in both mass and premium gaming sectors. Management indicated that the resort’s enhanced product quality, including its all-suite room mix and continued investment in customer experience, likely reinforced its positioning as a leading integrated resort in Asia. Ongoing strength in integrated offerings such as entertainment, retail, and food and beverage, alongside robust business and leisure visitation to Singapore, may support both gaming and non-gaming revenue momentum. Our model predicts fourth-quarter revenues from Marina Bay Sands to rise 27.2% year over year to $1.44 billion.

In Macau, Las Vegas Sands is successfully leveraging the market’s recovery; the region’s rising GGR, coupled with the company’s refined marketing initiatives, points toward sustained growth through the fourth quarter and beyond. This and a full-quarter contribution from the Londoner Grand, operating all suites and gaming capacity, are expected to have accelerated property-level EBITDA and reinforced momentum toward the company’s $1 billion annualized EBITDA target for the Londoner portfolio.

Additionally, the continued rollout of smart table technology in Macau could provide a meaningful lift to results. By capturing more accurate, real-time data on player activity — particularly higher-margin side bets — the technology helps better measure true hold rates and reduce volatility.

However, downward pressure on margins in Macau — caused by intensified reinvestment and higher operating costs from aggressive marketing — coupled with seasonal disruptions like typhoons, may have weighed on the bottom line during the fourth quarter. Our model predicts total operating expenses in the quarter to rise 11.2% year over year to $2.6 billion.

What Our Model Says About LVS Stock

Our proven model predicts an 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, which is exactly the case here.

LVS’ Earnings ESP: Las Vegas Sands has an Earnings ESP of +0.08%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

LVS’ Zacks Rank: The company carries a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Other Stocks Poised to Beat on Earnings

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.

Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) has an Earnings ESP of +1.82% and a Zacks Rank of 3 at present.

Norwegian Cruise Line is expected to register a 7.7% increase in earnings for the to-be-reported quarter. NCLH reported better-than-expected earnings in two of the trailing four quarters and missed on two occasions, the average surprise being 28.9%.

Hilton Worldwide, Inc. (HLT - Free Report) currently has an Earnings ESP of +2.97% and a Zacks Rank of 3.

Hilton Worldwide’s earnings for the to-be-reported quarter are expected to increase 17.6%. HLT reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 5.8%.

Marriott International, Inc. (MAR - Free Report) currently has an Earnings ESP of +0.93% and a Zacks Rank of 3.

Marriott International’s earnings for the to-be-reported quarter are expected to increase 7.8%. MAR reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 2%.

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