LVS

A month has gone by since the last earnings report for Las Vegas Sands (LVS). Shares have lost about 0.1% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Las Vegas Sands due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Las Vegas Sands Corp. before we dive into how investors and analysts have reacted as of late. Las Vegas Sands reported weak second-quarter 2026 results, with adjusted earnings and net revenues missing the Zacks Consensus Estimate and declining on a year-over-year basis. The company’s results were hurt by unusually low rolling-play hold in Macao. Nonetheless, gaming volumes increased across all Macao segments, while Marina Bay Sands’ mass gaming revenues rose 5% year over year to $886 million. Las Vegas Sands reported adjusted earnings per share of 59 cents, missing the Zacks Consensus Estimate of 77 cents by 23.4%. In the second quarter of 2025, the company reported adjusted earnings of 79 cents per share.Quarterly net revenues of $3.15 billion missed the consensus mark of $3.37 billion by 6.4% and declined 0.7% from $3.18 billion reported in the prior-year quarter. Macao operations generated net revenues of $1.79 billion in the second quarter of 2026, down 0.4% from $1.80 billion reported in the prior-year quarter.Adjusted property EBITDA declined 24% year over year to $430 million from $566 million. Gaming volumes increased year over year across rolling tables, non-rolling tables and slots or electronic table games. However, unusually low rolling-play hold reduced Macao adjusted property EBITDA by $87 million in the reported quarter. Net revenues from The Venetian Macao were $591 million in the second quarter of 2026, down 10.9% from $663 million reported in the prior-year quarter.Adjusted property EBITDA declined 30.1% to $165 million from $236 million reported in the year-ago quarter. Table games win per unit per day decreased to $8,819 from $9,710 in the second quarter of 2025, while slot machine win per unit per day increased to $446 from $305 reported in the prior-year quarter. Net revenues from The Londoner Macao increased 10.6% year over year to $710 million in the reported quarter from $642 million.Adjusted property EBITDA decreased 6.3% to $192 million from $205 million reported in the prior-year quarter. Rolling-chip volume increased to $3.52 billion from $2.09 billion in the year-ago quarter, while non-rolling chip drop rose to $2.58 billion from $2.20 billion.The property’s hotel revenue per available room increased to $254 from $242 reported in the second quarter of 2025. Occupancy improved to 96.7% from 93.3% in the prior-year quarter. Net revenues from The Parisian Macao increased 12.4% to $218 million in the second quarter of 2026 from $194 million reported in the prior-year quarter. Casino revenues rose to $165 million from $143 million in the year-ago period.Adjusted property EBITDA decreased 13.6% to $38 million from $44 million reported in the second quarter of 2025. Non-rolling chip drop increased to $816 million from $663 million in the prior-year quarter.The property’s hotel RevPAR declined to $138 from $146 reported in the year-ago quarter. Occupancy decreased to 97.4% from 99.2% in the prior-year period. Net revenues from The Plaza Macao and Four Seasons Macao declined 29.4% to $137 million in the reported quarter from $194 million in the second quarter of 2025.Casino revenues decreased to $59 million from $122 million reported in the prior-year quarter, while mall revenues increased to $41 million from $37 million.Adjusted property EBITDA fell 69.7% to $20 million from $66 million reported in the prior-year quarter. Rolling-chip volume increased to $2.82 billion from $1.40 billion in the second quarter of 2025, while non-rolling chip drop rose to $839 million from $655 million.The property’s RevPAR increased to $482 from $462 in the prior-year period. Occupancy improved to 95.1% from 92.1% reported in the second quarter of 2025. Net revenues from Sands Macao increased 33.8% to $95 million in the second quarter of 2026 from $71 million reported in the prior-year quarter. Casino revenues rose to $88 million from $63 million in the year-ago period.Adjusted property EBITDA increased 22.2% year over year to $11 million from $9 million. Non-rolling chip drop rose to $497 million from $389 million in the prior-year quarter.The property’s hotel RevPAR decreased to $161 from $175 reported in the year-ago quarter, while occupancy remained unchanged at 99.4%. Net revenues from Marina Bay Sands decreased 0.6% year over year to $1.38 billion in the reported quarter.Adjusted property EBITDA declined 10.3% year over year to $689 million. Rolling-chip volume increased to $9.27 billion from $8.95 billion in the year-ago quarter, while non-rolling chip drop rose to $2.60 billion from $2.36 billion.The property’s hotel RevPAR increased to $939 from $844 in the second quarter of 2025. Occupancy improved to 95.6% from 95% reported in the prior-year quarter. On a consolidated basis, adjusted property EBITDA declined 16.1% year over year to $1.12 billion in the second quarter of 2026.Operating income decreased to $618 million from $783 million reported in the year-ago quarter, while net income declined to $373 million from $519 million. As of June 30, 2026, Las Vegas Sands had unrestricted cash balances of $3.38 billion compared with $3.45 billion as of June 30, 2025. Total debt outstanding, net of deferred financing costs and original issue discounts and excluding finance leases, was $15.11 billion compared with $15.68 billion reported in the prior-year quarter.In the reported quarter, capital expenditures totaled $332 million, up from $286 million in the year-ago quarter. The latest-quarter expenditures comprised construction, development and maintenance activities of $215 million at Marina Bay Sands, $86 million in Macao and $31 million in corporate and other activities.As of June 30, 2026, $29 million remained available under the share repurchase program. Subsequently, on July 21, 2026, the board increased the remaining authorization to $6 billion and extended the program’s expiration date to July 21, 2029. In the past month, investors have witnessed a downward trend in fresh estimates. Currently, Las Vegas Sands has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for value investors. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Las Vegas Sands has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Las Vegas Sands Corp. (LVS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Recent earnings pressure is front and center for Las Vegas Sands (LVS), after the company missed consensus EPS estimates by 24% and reported sales 6.5% below expectations, with earnings dropping 25% year over year. See our latest analysis for Las Vegas Sands. Despite the weaker quarter, Las Vegas Sands shares have shown only a modest 3.2% 1 month share price return. The 1 year total shareholder return is down 12.0% and the 3 year total shareholder return is down 8.0%, suggesting recent momentum is still fading. If this earnings setback has you reassessing your watchlist, it can help to scan beyond casinos and hotels and look at 20 top founder-led companies Las Vegas Sands now trades at a clear gap to both analyst targets and one intrinsic value estimate, after a weak earnings print and a tough year for returns. So where does a fair value range really sit for this stock? Las Vegas Sands last closed at $46.23, while the most widely followed narrative points to a fair value near $66.33, creating a sizeable gap between price and modeled worth. Read the complete narrative. Want to see what sits behind that upside case for Las Vegas Sands? The narrative leans heavily on steady revenue expansion, firmer margins and a richer earnings multiple. Curious how those moving parts add up to the $66.33 fair value. Result: Fair Value of $66.33 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Las Vegas Sands still faces meaningful risks, including softer Macao EBITDA margins and increased premium mass competition that could pressure both revenue and profit assumptions. Find out about the key risks to this Las Vegas Sands narrative. With Las Vegas Sands presenting both pressure from recent results and optimism in some valuation models, now is the moment to check the details yourself and move quickly to shape your own stance. A balanced view means weighing the upside against the concerns, so take a closer look at the 5 key rewards and 2 important warning signs If Las Vegas Sands has you rethinking your portfolio mix, now is the time to widen your search and uncover ideas you do not want to miss. Spot potential value opportunities early by reviewing the 50 high quality undervalued stocks that combine quality fundamentals with appealing pricing signals. Strengthen your income stream by checking out the 10 dividend fortresses that aim to pair higher yields with resilient business models. Prioritise stability in uncertain markets and focus on the 83 resilient stocks with low risk scores that score well on resilience and risk controls. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include LVS. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. Las Vegas Sands (LVS) is back in focus after reporting second quarter 2026 results that showed lower quarterly revenue and net income compared with a year earlier, alongside continued heavy spending on resort upgrades. See our latest analysis for Las Vegas Sands. After the latest earnings miss, buyback activity and dividend affirmation, Las Vegas Sands’ share price has been under pressure, with the stock down 29.34% year to date and the 1 year total shareholder return declining 10.32%. This suggests momentum has been fading despite ongoing capital returns. If this mix of pressure and reinvestment has you reassessing your watchlist, it could be a good moment to widen your search with 18 top founder-led companies Las Vegas Sands is now trading well below where it started the year, even as it continues to pour cash into resorts and shareholder returns. So is most of the downside already reflected, or has the bulk of any upside already played out? At a last close of $46.08 versus a narrative fair value of $66.33, the current pricing implies a clear gap that centers on Macau margins and future earnings power. Read the complete narrative. Want to see what sits behind that confidence in Las Vegas Sands cash generation? The narrative leans on steady top line expansion, rising margins and a richer earnings multiple. Curious which assumptions really drive that $66.33 figure and how sensitive it is to Macau and Singapore performance over time? The full narrative breaks down those moving pieces in detail. Result: Fair Value of $66.33 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Las Vegas Sands still faces real pressure in Macao margins and ongoing competition in premium mass, which could limit the extent to which those upside narratives play out. Find out about the key risks to this Las Vegas Sands narrative. There is a catch with Las Vegas Sands. While analyst narratives and earnings multiples point to upside, our DCF model suggests the stock at $46.08 is trading above an estimated future cash flow value of $38.97, which screens as overvalued on that basis. Which signal do you trust more? Look into how the SWS DCF model arrives at its fair value. Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Las Vegas Sands for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 49 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity. With sentiment on Las Vegas Sands clearly split between risks and rewards, this is a good time to review the data quickly and shape your own view by weighing its 5 key rewards and 2 important warning signs If Las Vegas Sands has you thinking more carefully about where your money is working hardest, this is a strong moment to scan for fresh opportunities using targeted stock lists. Spot potential value opportunities early by reviewing companies screened as screener containing 19 high quality undiscovered gems Focus on stability and capital strength by checking stocks highlighted in the solid balance sheet and fundamentals stocks screener (49 results) Prioritise resilience by reviewing companies identified as 79 resilient stocks with low risk scores This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include LVS. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

In the past week, Las Vegas Sands Corp. reported second-quarter 2026 results showing slightly lower sales of US$2,986 million and revenue of US$3,154 million, with net income of US$346 million and diluted EPS of US$0.53 from continuing operations, both below the prior year. Alongside this softer quarter, the company completed a multi-year buyback totaling 158,115,704 shares for about US$8.07 billion, lifted remaining repurchase authorization to US$6,000 million through 2029, and affirmed a quarterly dividend of US$0.30 per share, signaling an ongoing emphasis on returning cash to shareholders while funding Macao and Singapore upgrades. We’ll now examine how the weaker quarterly profit alongside an expanded US$6,000 million buyback authorization could reshape Las Vegas Sands’ investment narrative. AI is about to change healthcare. These 40 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. To own Las Vegas Sands, you need to believe its Macao and Singapore resorts can keep drawing premium travelers and support steady cash generation, even as capital spending stays high. The softer Q2 profit highlights how cost inflation and renovation spend can squeeze margins in the near term, while the key catalyst remains successful ramp-up of upgraded properties. The biggest current risk is that rising costs and a slower recovery in high-spend visitation compress earnings for longer than expected. The expanded US$6,000 million buyback authorization through 2029 is the most relevant recent announcement here, because it sits alongside weaker quarterly earnings and ongoing heavy investment in Macao and Marina Bay Sands. It reinforces that capital is still being directed to share repurchases at the same time as debt and capex remain elevated, which could matter if earnings pressure persists or if regulatory or tourism headwinds in core Asian markets become more pronounced. Yet beneath the focus on buybacks and dividends, investors should be aware that rising labor and renovation costs could keep pressuring margins and cash flows if... Read the full narrative on Las Vegas Sands (it's free!) Las Vegas Sands' narrative projects $15.6 billion revenue and $2.5 billion earnings by 2029. This requires 4.4% yearly revenue growth and a $0.7 billion earnings increase from $1.8 billion today. Uncover how Las Vegas Sands' forecasts yield a $66.33 fair value, a 44% upside to its current price. Some of the lowest-estimate analysts were already cautious, assuming only about 3.5 percent annual revenue growth to roughly US$15.3 billion and earnings of US$2.3 billion by 2029, and the latest earnings miss may either reinforce or challenge that more pessimistic view, so it is worth comparing these expectations with your own before deciding which narrative fits you best. Explore 3 other fair value estimates on Las Vegas Sands - why the stock might be worth as much as 44% more than the current price! Don't just follow the ticker - dig into the data and build a conviction that's truly your own. A great starting point for your Las Vegas Sands research is our analysis highlighting 5 key rewards and 2 important warning signs that could impact your investment decision. Our free Las Vegas Sands research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Las Vegas Sands' overall financial health at a glance. These stocks are moving-our analysis flagged them today. Act fast before the price catches up: We've uncovered the 9 dividend fortresses yielding 5%+ that don't just survive market storms, but thrive in them. Invest in the nuclear renaissance through our list of 90 elite nuclear energy infrastructure plays powering the global AI revolution. The best AI stocks today may lie beyond giants like Nvidia and Microsoft. Find the next big opportunity with these 16 smaller AI-focused companies with strong growth potential through early-stage innovation in machine learning, automation, and data intelligence that could fund your retirement. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include LVS. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Las Vegas Sands Corp. LVS has become cheaper, but the lower share price does not settle the investment case. The stock now reflects quality resort assets and weaker near-term earnings signals. The issue is whether the pullback creates an opportunity or discounts a tougher setup. The latest data point to caution. LVS trades at roughly 2.12 times forward sales, below its five-year median of 3.18. That discount gives the stock some valuation support for investors who still see value in its Macau and Singapore portfolio. The valuation case is mixed. The $39 price target is based on 1.79 times forward sales, below the cited share price of $46.03, implying additional downside even with the stock near the low end of its historical range. Peer context matters. Wynn Resorts WYNN is also tied to Macau demand, while MGM Resorts International MGM gives investors another reference point for casino operators with Macau exposure. LVS reported second-quarter adjusted earnings of 59 cents per share, missing the consensus estimate of 77 cents. Revenues of $3.15 billion also fell short of the $3.37 billion expected. Las Vegas Sands Corp. price-consensus-chart | Las Vegas Sands Corp. Quote The year-over-year comparison was weak. Consolidated adjusted property EBITDA declined to $1.12 billion from $1.33 billion, operating income fell to $618 million from $783 million, and net income declined to $373 million from $519 million. Gaming-hold volatility softened the reported result. Macau EBITDA was hurt by unusually low rolling hold, while Marina Bay Sands benefited from higher hold. Underlying volumes were better than the profit line suggested. Still, the miss matters. Macau gaming volumes increased across segments, and Marina Bay Sands mass gaming revenues rose 5%, but margins and earnings weakened when hold, mix and operating costs moved against LVS. The Zacks Consensus Estimate for 2026 earnings has declined 2% over the past four weeks. The move is modest, but it points in the wrong direction after a negative earnings surprise. For a near-term investor, revisions matter more than longer-dated expansion potential. Estimate cuts can weigh on sentiment because analysts are reducing expectations rather than raising the earnings bar. Premium-market cost pressure remains a concern. LVS is investing in service, rooms, suites and customer experience to compete for high-value patrons in Macau. Those efforts may strengthen the business over time, but the margin recovery path is still uncertain. Downward estimates, a recent miss and uneven margins leave investors waiting for clearer stabilization. LVS continues to return capital to shareholders. During the second quarter, the company repurchased $787 million of stock and paid $197 million in dividends, including a quarterly dividend of 30 cents per share. Those returns are meaningful, but they sit alongside sizable funding needs. LVS ended the quarter with $15.11 billion of debt and a capital plan expected to rise toward $2.35 billion in 2028. The spending plan reflects reinvestment in Macau and the Marina Bay Sands expansion. Higher capital expenditures can limit flexibility. That creates tension for shareholders. Buybacks may be accretive if the stock is undervalued, yet heavy investment requirements and debt keep the balance sheet central to the debate. The bottom line is that LVS’ valuation support is real, but it is not enough to offset the weaker near-term picture. The earnings miss, estimate cuts and capital commitments make the stock difficult to frame as a clear buying opportunity. LVS currently carries a Zacks Rank #5 (Strong Sell). That rank supports caution over the next one to three months, with estimate revisions moving lower. The Style Scores are mixed. The Value Score of B acknowledges valuation support, but the Growth Score of C, Momentum Score of D and VGM Score of C suggest LVS does not currently offer a strong combination of growth quality, price strength and overall style characteristics. For investors focused on the next few months, patience looks warranted. LVS has quality assets and long-term projects, but investors may want to wait for more durable improvement in estimates and margins. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Las Vegas Sands Corp. (LVS) : Free Stock Analysis Report Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report MGM Resorts International (MGM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Las Vegas Sands (LVS) reported $3.15 billion in revenue for the quarter ended June 2026, representing a year-over-year decline of 0.7%. EPS of $0.59 for the same period compares to $0.79 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $3.37 billion, representing a surprise of -6.41%. The company delivered an EPS surprise of -23.38%, with the consensus EPS estimate being $0.77. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Las Vegas Sands performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Rolling Chip volume - Marina Bay Sands: $9.27 billion compared to the $10.67 billion average estimate based on four analysts. Non-Rolling Chip table games drop - Marina Bay Sands: $2.6 billion versus $2.71 billion estimated by four analysts on average. Rolling Chip win percentage - Marina Bay Sands: 4.7% compared to the 3.9% average estimate based on four analysts. Non-Rolling Chip table games win percentage - Marina Bay Sands: 22.9% versus the four-analyst average estimate of 22.1%. Net Revenues- Marina Bay Sands: $1.38 billion versus the five-analyst average estimate of $1.36 billion. The reported number represents a year-over-year change of -0.6%. Revenue- Total Macao: $1.79 billion versus the five-analyst average estimate of $2.02 billion. The reported number represents a year-over-year change of -0.4%. Net Revenues- The Parisian Macao: $218 million compared to the $216.65 million average estimate based on four analysts. The reported number represents a change of +12.4% year over year. Net Revenues- Ferry Operations and Other: $39 million versus $27.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +18.2% change. Net Revenues- The Londoner Macao: $710 million versus $777.34 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.6% change. Net Revenues- The Plaza Macao and Four Seasons Macao: $137 million versus the four-analyst average estimate of $226.94 million. The reported number represents a year-over-year change of -29.4%. Net Revenues- Sands Macao: $95 million compared to the $82.32 million average estimate based on four analysts. The reported number represents a change of +33.8% year over year. Net Revenues- The Venetian Macao: $591 million compared to the $733.13 million average estimate based on four analysts. The reported number represents a change of -10.9% year over year. View all Key Company Metrics for Las Vegas Sands here>>> Shares of Las Vegas Sands have returned -4.8% over the past month versus the Zacks S&P 500 composite's +0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Las Vegas Sands Corp. (LVS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Las Vegas Sands LVS reported weak second-quarter 2026 results, with adjusted earnings and net revenues missing the Zacks Consensus Estimate and declining on a year-over-year basis. Following the results, the company's shares declined 3.1% in yesterday’s after-market trading session.The company’s results were hurt by unusually low rolling-play hold in Macao. Nonetheless, gaming volumes increased across all Macao segments, while Marina Bay Sands’ mass gaming revenues rose 5% year over year to $886 million. Las Vegas Sands reported adjusted earnings per share of 59 cents, missing the Zacks Consensus Estimate of 77 cents by 23.4%. In the second quarter of 2025, the company reported adjusted earnings of 79 cents per share. Las Vegas Sands Corp. price-consensus-eps-surprise-chart | Las Vegas Sands Corp. Quote Quarterly net revenues of $3.15 billion missed the consensus mark of $3.37 billion by 6.4% and declined 0.7% from $3.18 billion reported in the prior-year quarter. Macao operations generated net revenues of $1.79 billion in the second quarter of 2026, down 0.4% from $1.80 billion reported in the prior-year quarter.Adjusted property EBITDA declined 24% year over year to $430 million from $566 million. Gaming volumes increased year over year across rolling tables, non-rolling tables and slots or electronic table games. However, unusually low rolling-play hold reduced Macao adjusted property EBITDA by $87 million in the reported quarter. Net revenues from The Venetian Macao were $591 million in the second quarter of 2026, down 10.9% from $663 million reported in the prior-year quarter. Our model expected the quarterly revenues for this metric to be $794.7 million.Adjusted property EBITDA declined 30.1% to $165 million from $236 million reported in the year-ago quarter. Our estimate for the metric was $226.2 million. Table games win per unit per day decreased to $8,819 from $9,710 in the second quarter of 2025, while slot machine win per unit per day increased to $446 from $305 reported in the prior-year quarter. Net revenues from The Londoner Macao increased 10.6% year over year to $710 million in the reported quarter from $642 million. We estimated the metric to be $918.8 million.Adjusted property EBITDA decreased 6.3% to $192 million from $205 million reported in the prior-year quarter. Our estimate for the metric was pegged at $200 million. Rolling-chip volume increased to $3.52 billion from $2.09 billion in the year-ago quarter, while non-rolling chip drop rose to $2.58 billion from $2.20 billion.The property’s hotel revenue per available room increased to $254 from $242 reported in the second quarter of 2025. Occupancy improved to 96.7% from 93.3% in the prior-year quarter. Net revenues from The Parisian Macao increased 12.4% to $218 million in the second quarter of 2026 from $194 million reported in the prior-year quarter. We estimated the metric to be $193 million. Casino revenues rose to $165 million from $143 million in the year-ago period.Adjusted property EBITDA decreased 13.6% to $38 million from $44 million reported in the second quarter of 2025. Our estimate for the metric was $46.7 million. Non-rolling chip drop increased to $816 million from $663 million in the prior-year quarter.The property’s hotel RevPAR declined to $138 from $146 reported in the year-ago quarter. Occupancy decreased to 97.4% from 99.2% in the prior-year period. Net revenues from The Plaza Macao and Four Seasons Macao declined 29.4% to $137 million in the reported quarter from $194 million in the second quarter of 2025. We estimated the metric to be $228.8 million. Casino revenues decreased to $59 million from $122 million reported in the prior-year quarter, while mall revenues increased to $41 million from $37 million.Adjusted property EBITDA fell 69.7% to $20 million from $66 million reported in the prior-year quarter. Our estimate for the metric was $82.8 million. Rolling-chip volume increased to $2.82 billion from $1.40 billion in the second quarter of 2025, while non-rolling chip drop rose to $839 million from $655 million.The property’s RevPAR increased to $482 from $462 in the prior-year period. Occupancy improved to 95.1% from 92.1% reported in the second quarter of 2025. Net revenues from Sands Macao increased 33.8% to $95 million in the second quarter of 2026 from $71 million reported in the prior-year quarter. Our projection for the metric was $58.6 million. Casino revenues rose to $88 million from $63 million in the year-ago period.Adjusted property EBITDA increased 22.2% year over year to $11 million from $9 million. Our estimate was $7.1 million. Non-rolling chip drop rose to $497 million from $389 million in the prior-year quarter.The property’s hotel RevPAR decreased to $161 from $175 reported in the year-ago quarter, while occupancy remained unchanged at 99.4%. Net revenues from Marina Bay Sands decreased 0.6% year over year to $1.38 billion in the reported quarter. Our estimate for the metric was $1.11 billion.Adjusted property EBITDA declined 10.3% year over year to $689 million. We expected this metric to be $731.9 million. Rolling-chip volume increased to $9.27 billion from $8.95 billion in the year-ago quarter, while non-rolling chip drop rose to $2.60 billion from $2.36 billion.The property’s hotel RevPAR increased to $939 from $844 in the second quarter of 2025. Occupancy improved to 95.6% from 95% reported in the prior-year quarter. On a consolidated basis, adjusted property EBITDA declined 16.1% year over year to $1.12 billion in the second quarter of 2026.Operating income decreased to $618 million from $783 million reported in the year-ago quarter, while net income declined to $373 million from $519 million. As of June 30, 2026, Las Vegas Sands had unrestricted cash balances of $3.38 billion compared with $3.45 billion as of June 30, 2025. Total debt outstanding, net of deferred financing costs and original issue discounts and excluding finance leases, was $15.11 billion compared with $15.68 billion reported in the prior-year quarter.In the reported quarter, capital expenditures totaled $332 million, up from $286 million in the year-ago quarter. The latest-quarter expenditures comprised construction, development and maintenance activities of $215 million at Marina Bay Sands, $86 million in Macao and $31 million in corporate and other activities.As of June 30, 2026, $29 million remained available under the share repurchase program. Subsequently, on July 21, 2026, the board increased the remaining authorization to $6 billion and extended the program’s expiration date to July 21, 2029. Las Vegas Sands currently carries a Zacks Rank #4 (Sell).Here are some better-ranked stocks from the Consumer Discretionary sector:AMC Entertainment Holdings, Inc. AMC currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.The company delivered a trailing four-quarter earnings surprise of 59%, on average. AMC stock has surged 44.2% in the year-to-date period. The Zacks Consensus Estimate for AMC Entertainment 2026 sales and EPS implies growth of 12.9% and 81.3%, respectively, from the year-ago levels.The Marcus Corporation MCS currently sports a Zacks Rank #1. The company delivered a trailing four-quarter negative earnings surprise of 40.4%, on average. MCS stock has jumped 53.3% in the year-to-date period.The Zacks Consensus Estimate for Marcus’ 2026 sales and EPS indicates an increase of 6.2% and 211.8%, respectively, from the year-ago levels.Vince Holding Corp. VNCE currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter earnings surprise of 635.7%, on average. VNCE stock has rallied 58.8% in the year-to-date period.The Zacks Consensus Estimate for Vince Holding’s 2026 sales and EPS implies growth of 7.2% and 34.1%, respectively, from the year-ago levels. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Las Vegas Sands Corp. (LVS) : Free Stock Analysis Report Marcus Corporation (The) (MCS) : Free Stock Analysis Report AMC Entertainment Holdings, Inc. (AMC) : Free Stock Analysis Report Vince Holding Corp. (VNCE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Las Vegas Sands (LVS) came out with quarterly earnings of $0.59 per share, missing the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -23.38%. A quarter ago, it was expected that this casino operator would post earnings of $0.75 per share when it actually produced earnings of $0.91, delivering a surprise of +21.33%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Las Vegas Sands, which belongs to the Zacks Gaming industry, posted revenues of $3.15 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 6.41%. This compares to year-ago revenues of $3.18 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Las Vegas Sands shares have lost about 30.1% since the beginning of the year versus the S&P 500's gain of 9.7%. While Las Vegas Sands has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Las Vegas Sands was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.81 on $3.42 billion in revenues for the coming quarter and $3.35 on $14.13 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Gaming is currently in the bottom 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Wynn Resorts (WYNN), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 4. This casino operator is expected to post quarterly earnings of $1.04 per share in its upcoming report, which represents a year-over-year change of -4.6%. The consensus EPS estimate for the quarter has been revised 1.8% lower over the last 30 days to the current level. Wynn Resorts' revenues are expected to be $1.85 billion, up 6.2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Las Vegas Sands Corp. (LVS) : Free Stock Analysis Report Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Las Vegas Sands Corp.? Here are five stocks we like better. Las Vegas Sands said Q2 results were driven by continued strength at Marina Bay Sands and improving Macau volume trends, but performance was dampened by seasonal softness, low VIP hold, and reduced high-value traffic during the World Cup. Macau EBITDA was hurt by exceptionally low VIP rolling hold, with Sands China reporting $430 million versus a $517 million normalized result; executives said the market still showed strong underlying momentum, including 73% year-over-year rolling volume growth. The company reiterated its long-term Macau and Singapore expansion strategy, including ongoing Venetian renovations and the Marina Bay Sands expansion expected to open in early 2031, while continuing aggressive share repurchases and dividends. Insiders Sold Big at These 3 Stocks—Should You Worry? Las Vegas Sands (NYSE:LVS) executives said the company’s second-quarter 2026 results reflected continued strength at Marina Bay Sands in Singapore and improving volume trends in Macau, while acknowledging that low VIP hold, seasonal softness and the World Cup weighed on reported performance. Chairman and Chief Executive Officer Patrick Dumont said the company’s strategic priorities “remain clear and consistent,” centered on disciplined investment and long-term shareholder returns. He said Marina Bay Sands generated $689 million of EBITDA in the quarter. On a normalized rolling play basis, EBITDA would have been $652 million, or $37 million lower. → Buyback Boom: These 3 Companies Are Betting Billions on Their Own Stocks Is Bally’s Turnaround a Safe Bet Amid Mixed Investor Sentiment? Dumont said that performance came despite the second quarter being a seasonally softer tourism period in both Singapore and Macau, as well as a decline in visits from high-value patrons during the World Cup football tournament. He said the impact was “very noticeable in June.” Despite those headwinds, Dumont said Marina Bay Sands’ mass gaming revenue rose 5% compared with the second quarter of 2025. He attributed the property’s performance to investments in suite renovations, service enhancements and a premium customer strategy, saying those initiatives have elevated the resort’s “structural earnings power.” → 3 Photonics Companies Making Quantum Tech Possible These Stocks Missed on Earnings, But Will Rebound Next Quarter In Macau, Sands China posted $430 million in EBITDA for the quarter, which Dumont said was negatively impacted by “exceptionally low VIP rolling hold” of 1.35%. If rolling play had held as expected, Sands China EBITDA would have been $517 million, or $87 million higher. Dumont said the quarter did not reflect the “true earnings power” of Sands China’s properties, citing the combined impact of hold, the World Cup and ongoing investments for growth. Still, he pointed to strong gaming volume trends as evidence that the company’s service and customer experience initiatives are gaining traction. Rolling volume in Macau rose 73% year over year. Non-rolling drop increased 15% year over year. Slot and electronic table game handle rose 30% year over year. Sands China’s mass gross gaming revenue grew 8%, compared with 4% growth for the overall Macau mass market. Sands China’s total gross gaming revenue rose 4%, while the Macau market overall was flat. → AI Data Centers Need Power, and These 2 Industrials Are Cashing In Dumont said that if Sands China had held as expected in rolling play, total GGR growth would have been 14% year over year. He also said Sands China reached a market-leading 26% share of VIP rolling chip volume during the quarter. Grant Chum, CEO and President of Sands China and Executive Vice President of Asia Operations, said Macau was tracking well in April and May, with May representing an all-time high for Sands China in monthly mass GGR. June was softer, he said, with some impact from the World Cup. Chum said Sands China gained share across gaming segments year over year and maintained similar share sequentially after adjusting for hold and business mix. Executives reiterated that Sands China remains focused on reaching $700 million in quarterly EBITDA over time. Dumont said nothing in the quarter changed management’s view of the company’s opportunity in Macau, though he said Sands has “some work to do” to reach that target. Dumont said Macau growth remains primarily driven by the premium segment, where competition is intense and high-end suite product and service levels are critical. He said the company is focused on aligning room and suite product with the service levels demanded by Macau’s highest-value customers. Chum said the company has seen positive evidence from recent product upgrades, noting that The Londoner and Four Seasons were above 2019 levels on a normalized basis during the quarter. He said those results support the company’s ongoing investment in upgraded rooms, suites and premium gaming areas. The renovation of Venetian rooms and suites began in March, Dumont said. The company expects all 2,900 rooms and suites to be refurbished and reintroduced by Chinese New Year 2028. Sands also plans to add new premium-focused gaming salons and related amenities as part of the Venetian investment program. Chum said approximately 400 keys were out of inventory on average during the second quarter and that the number could fluctuate between 400 and 500 per quarter into 2027. Dumont said Sands China’s reinvestment as a percentage of revenue increased during the quarter, but he attributed that to changes in business mix and lower hold on non-rolling play, rather than a change in strategy. He said the company’s approach to reinvestment has remained consistent over the past several quarters. Chum said Sands China began increasing reinvestment levels in the second half of 2025 and has been working since the start of 2026 to optimize those levels. He said the company aims to earn a higher gross margin from higher revenue levels in the second half of the year. On operating expenses, executives said Sands China has invested over the past year in additional table operating hours, sales and marketing personnel, customer service staff and elevated service levels. Chum said the largest headcount increases came from expanded table operating hours, which support multiple customer segments. He said the rate of operating expense growth is expected to moderate in the second half of 2026, allowing for operating leverage as revenue grows. In Singapore, Dumont said the company remains confident in Marina Bay Sands’ long-term growth prospects, citing the rise of high-value tourism in Southeast Asia and continued wealth creation in the region. He said the property’s major step up came from the transition to a larger suite base, from 135 suites to 770, along with service and food-and-beverage enhancements. Dumont said the Marina Bay Sands expansion remains on track, with an expected opening in early 2031, subject to required government approvals. The project is expected to increase premium suite capacity and add new service and entertainment offerings, including a state-of-the-art arena that Dumont said is envisioned to be the finest in Asia. Executives also discussed the World Cup’s impact across both Singapore and Macau. Dumont said many high-value patrons were absent during the event and that it was too early to determine whether demand would quickly rebound, noting that the tournament had ended only days before the call. Las Vegas Sands repurchased $787 million of its stock during the quarter and paid a recurring quarterly dividend of $0.30 per share. Dumont said the company has repurchased 16.3% of its outstanding shares over the past 11 quarters. The board recently increased the company’s repurchase authorization to $6 billion. Dumont said management sees meaningful value in both LVS and Sands China equity and believes additional repurchases will be accretive over the long term. The company did not buy additional Sands China shares during the quarter, leaving its ownership of Sands China at 74.8% as of June 30, 2026. Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company's operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams. The company's portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Las Vegas Sands Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.