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LVS’ earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 25.3%.
Trend in the Estimate Revision of LVS
The Zacks Consensus Estimate for second-quarter earnings per share (EPS) is pegged at 77 cents, indicating a decline of 2.5% from 79 cents reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $3.37 billion. The figure indicates an increase of 6.1% from the year-ago quarter.
Let’s take a look at how things might have shaped up in the quarter.
Factors Likely to Shape Las Vegas Sands’ Q2 Results
Las Vegas Sands' second-quarter revenues are expected to have benefited from the continued strength of Marina Bay Sands in Singapore. Management remains optimistic about the property's long-term growth prospects, supported by resilient demand from high-value tourism and sustained investments in premium hospitality, entertainment and gaming offerings. The company's continued focus on enhancing service quality, expanding premium amenities and investing in its workforce is expected to have supported operating performance during the quarter.
The Macao business is also likely to have remained a key growth driver. During the first quarter, management highlighted that Sands China gained market share across every gaming segment while improving gaming volumes and premium customer patronage. Continued optimization of customer reinvestment programs, coupled with higher service standards, is expected to have sustained healthy visitation and gaming activity in the second quarter.
Demand from premium customers is likely to have remained favorable in Macao. Management noted that the market continues to be driven primarily by premium play, making luxury accommodations and superior customer service increasingly important competitive advantages. With its extensive premium suite inventory at The Londoner Macao and the Grand Suites at Four Seasons, Las Vegas Sands appears well positioned to capitalize on this trend.
The company is also continuing to invest in its integrated resort portfolio to support long-term growth. Renovation work at The Venetian Macao is progressing as planned, with the first refurbished rooms expected to enter service in the third quarter of 2026 and the broader refresh scheduled for completion by the end of 2027. Management believes the phased renovation strategy should allow the company to upgrade its product offerings without materially disrupting ongoing operations.
Our model projects Macao revenues to increase 24.1% year over year to $2.23 billion, while revenues from Plaza Macao and Four Seasons Macao are expected to rise 17.9% to $228.8 million in the second quarter.
However, higher operating expenses are likely to have weighed on margins. Management stated that investments in hiring, employee training and service enhancements across the Macau portfolio are increasing payroll and operating costs. These initiatives are expected to pressure margins in the near term even as they support long-term revenue growth.
Additionally, ongoing investments in property upgrades, including renovations at The Venetian and broader portfolio enhancements, are likely to have increased capital spending during the quarter. While management expects minimal operational disruption, these investments could continue to weigh on near-term profitability.
Reflecting these investments, our model projects total operating expenses to increase 6.4% year over year to $2.5 billion in the second quarter.
What Our Model Says About LVS Stock
Our proven model does not conclusively predict an earnings beat for Las Vegas Sands this time around. The company does not have the right combination of the two key ingredients, a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), to increase the odds of an earnings beat.
LVS’ Earnings ESP: Las Vegas Sands has an Earnings ESP of +2.09%. 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 #4 (Sell) at present.
Stocks Poised to Beat on Earnings
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that they have the right combination of elements to post an earnings beat.
PENN’s earnings for the to-be-reported quarter are expected to increase 240%. PENN reported better-than-expected earnings in three of the trailing four quarters and missed once, the average surprise being 120.1%.
Norwegian Cruise Line (NCLH - Free Report) currently has an Earnings ESP of +7.30% and a Zacks Rank of 2.
In the to-be-reported quarter, NCLH’s earnings are expected to decrease 23.5%. Norwegian Cruise Line’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 13.7%.
Marriott International, Inc. (MAR - Free Report) currently has an Earnings ESP of +3.04% and a Zacks Rank of 3.
MAR’s earnings for the to-be-reported quarter are expected to increase 14.7%. Marriott reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average surprise being 1.5%.
View the Zacks #1 Rank List
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Las Vegas Sands Gears Up to Report Q2 Earnings: What's Ahead?
Key Takeaways
Las Vegas Sands Corp. (LVS - Free Report) is scheduled to report second-quarter 2026 results on July 22, after the closing bell.
LVS’ earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 25.3%.
Trend in the Estimate Revision of LVS
The Zacks Consensus Estimate for second-quarter earnings per share (EPS) is pegged at 77 cents, indicating a decline of 2.5% from 79 cents reported in the year-ago quarter.
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 $3.37 billion. The figure indicates an increase of 6.1% from the year-ago quarter.
Let’s take a look at how things might have shaped up in the quarter.
Factors Likely to Shape Las Vegas Sands’ Q2 Results
Las Vegas Sands' second-quarter revenues are expected to have benefited from the continued strength of Marina Bay Sands in Singapore. Management remains optimistic about the property's long-term growth prospects, supported by resilient demand from high-value tourism and sustained investments in premium hospitality, entertainment and gaming offerings. The company's continued focus on enhancing service quality, expanding premium amenities and investing in its workforce is expected to have supported operating performance during the quarter.
The Macao business is also likely to have remained a key growth driver. During the first quarter, management highlighted that Sands China gained market share across every gaming segment while improving gaming volumes and premium customer patronage. Continued optimization of customer reinvestment programs, coupled with higher service standards, is expected to have sustained healthy visitation and gaming activity in the second quarter.
Demand from premium customers is likely to have remained favorable in Macao. Management noted that the market continues to be driven primarily by premium play, making luxury accommodations and superior customer service increasingly important competitive advantages. With its extensive premium suite inventory at The Londoner Macao and the Grand Suites at Four Seasons, Las Vegas Sands appears well positioned to capitalize on this trend.
The company is also continuing to invest in its integrated resort portfolio to support long-term growth. Renovation work at The Venetian Macao is progressing as planned, with the first refurbished rooms expected to enter service in the third quarter of 2026 and the broader refresh scheduled for completion by the end of 2027. Management believes the phased renovation strategy should allow the company to upgrade its product offerings without materially disrupting ongoing operations.
Our model projects Macao revenues to increase 24.1% year over year to $2.23 billion, while revenues from Plaza Macao and Four Seasons Macao are expected to rise 17.9% to $228.8 million in the second quarter.
However, higher operating expenses are likely to have weighed on margins. Management stated that investments in hiring, employee training and service enhancements across the Macau portfolio are increasing payroll and operating costs. These initiatives are expected to pressure margins in the near term even as they support long-term revenue growth.
Additionally, ongoing investments in property upgrades, including renovations at The Venetian and broader portfolio enhancements, are likely to have increased capital spending during the quarter. While management expects minimal operational disruption, these investments could continue to weigh on near-term profitability.
Reflecting these investments, our model projects total operating expenses to increase 6.4% year over year to $2.5 billion in the second quarter.
What Our Model Says About LVS Stock
Our proven model does not conclusively predict an earnings beat for Las Vegas Sands this time around. The company does not have the right combination of the two key ingredients, a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), to increase the odds of an earnings beat.
LVS’ Earnings ESP: Las Vegas Sands has an Earnings ESP of +2.09%. 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 #4 (Sell) at present.
Stocks Poised to Beat on Earnings
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that they have the right combination of elements to post an earnings beat.
PENN Entertainment, Inc. (PENN - Free Report) currently has an Earnings ESP of +13.79% and sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
PENN’s earnings for the to-be-reported quarter are expected to increase 240%. PENN reported better-than-expected earnings in three of the trailing four quarters and missed once, the average surprise being 120.1%.
Norwegian Cruise Line (NCLH - Free Report) currently has an Earnings ESP of +7.30% and a Zacks Rank of 2.
In the to-be-reported quarter, NCLH’s earnings are expected to decrease 23.5%. Norwegian Cruise Line’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 13.7%.
Marriott International, Inc. (MAR - Free Report) currently has an Earnings ESP of +3.04% and a Zacks Rank of 3.
MAR’s earnings for the to-be-reported quarter are expected to increase 14.7%. Marriott reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average surprise being 1.5%.