A month has gone by since the last earnings report for Las Vegas Sands (LVS) . Shares have added about 1.6% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Las Vegas Sands due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Las Vegas Sands Q1 Earnings & Revenues Bea ...

Twenty years later, Sands Macao records millions of visits annually, after having paved the way for its sister properties across the water on the Cotai Strip – The Venetian® Macao, The Plaza® Macao, The Londoner® Macao, and The Parisian Macao – which connect to form an integrated resort city housed under one roof, attracting visitors from around the world. Together, Sands China's five properties have recorded over 950 million visits since 2004.Speaking at the ceremony, Dr. Wilfred Wong, executive vice chair ...

The 2024 contribution exemplifies Sands' focus on workforce development initiatives and empowering unemployed and underemployed people to find pathways to jobs and careers. LAS VEGAS, May 7, 2024 /PRNewswire/ -- Las Vegas Sands (NYSE: LVS) has contributed $100,000 through Sands Cares to Dress for Success® (DFS) Southern Nevada to support the organization's free business styling and workforce development services for women who are unemployed and underemployed. Funding is focused on organizational capacity b ...

Las Vegas Sands (LVS) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this casino operator have returned -14% over the past month versus the Zacks S&P 500 composite's -2.5% change. The Zacks Gaming industry, to which Las Vegas Sands belongs, has lost 8.7% over this period. Now the key question is: Where could the stock be headed in the near term?While media releases or ...

Financial Performance - Net revenues for Q1 2024 were $2.96 billion, a 39.6% increase from $2.12 billion in Q1 2023[99] - Operating income for Q1 2024 was $717 million, compared to $378 million in Q1 2023[99] - Net income for Q1 2024 was $583 million, up from $145 million in Q1 2023[99] - Total operating expenses rose to $2.24 billion, marking a 28.7% increase from $1.74 billion year-over-year[108] - Casino expenses increased by 35.0% to $1.18 billion, up from $874 million, driven by higher gaming taxes[109] - Consolidated adjusted property EBITDA reached $1.21 billion, a 52.4% increase from $792 million in the previous year[111] - Net income for the three months ended March 31, 2024, was $583 million, compared to $145 million for the same period in 2023[113] Casino Operations - Casino revenues increased by $687 million compared to Q1 2023, driven by higher visitation and increased table games and slot volumes[100] - Non-Rolling Chip drop in Macao increased by 36.5% to $2.41 billion in Q1 2024 compared to Q1 2023[101] - Rolling Chip volume in Macao decreased by 17.5% to $1.04 billion in Q1 2024 compared to Q1 2023[101] - Slot handle in Macao increased by 41.9% to $1.49 billion in Q1 2024 compared to Q1 2023[101] - Total net casino revenues for The Londoner Macao reached $419 million, a 111.6% increase compared to $198 million in the previous year[103] - Total net casino revenues for Marina Bay Sands in Singapore rose to $859 million, a 44.9% increase from $593 million[103] - Rolling Chip volume at The Plaza Macao and Four Seasons Macao surged to $2,500 million, a 103.7% increase from $1,227 million[103] Visitor Statistics - Macao operations saw a 125.8% increase in total visitation from mainland China during the two months ended February 29, 2024, compared to the same period in 2023[91] - Marina Bay Sands reported a 29% increase in airlift passenger movement in January and February 2024 compared to the same period in 2023[92] Room and Mall Revenues - Total room revenues for The Venetian Macao increased by 33.3% to $52 million, up from $39 million[104] - The Londoner Macao's occupancy rate improved to 96.5%, a significant increase of 49.8 percentage points from 46.7%[104] - Total mall revenues at Shoppes at Venetian increased to $54 million, a 5.9% rise from $51 million in the same period last year[106] - Tenant sales per square foot at Shoppes at Venetian surged by 64.8% to $1,859 from $1,128[106] Expenses and Financial Commitments - General and administrative expenses rose by $35 million, primarily due to increased payroll and marketing costs[110] - Development expenses increased to $53 million, reflecting ongoing evaluations for new business opportunities in New York and Texas[110] - The company has a financial commitment to spend approximately $4.44 billion on capital and operating projects in Macao through 2032[123] Capital Projects and Renovations - Phase II of The Londoner Macao is ongoing, with an estimated cost of $1.2 billion and expected completion in early 2025[123] - The total minimum project cost for the MBS Expansion Project is approximately SGD 4.5 billion (approximately $3.3 billion), with expected costs to materially exceed this due to inflation and higher material and labor costs[124] - The renovation of Towers 1 and 2 of Marina Bay Sands was completed at a cost of approximately $1.0 billion, enhancing luxury amenities[124] - Ongoing renovations of Tower 3 hotel rooms are estimated to cost approximately $750 million, with expected completion by 2025[124] - The acquisition of Nassau Veterans Memorial Coliseum was completed for $241 million, with plans to develop an Integrated Resort pending a casino license[126] Cash Flow and Financing - Cash generated from operating activities increased by $273 million for the three months ended March 31, 2024, compared to the same period in 2023, driven by increased visitation in Macao and Singapore[129] - Capital expenditures for the three months ended March 31, 2024, totaled $196 million, including $99 million for Marina Bay Sands construction activities[130] - Net cash flows used in financing activities were $639 million for the three months ended March 31, 2024, primarily due to $450 million for common stock repurchases[132] - As of March 31, 2024, the company held approximately $4.96 billion in unrestricted cash and cash equivalents, with $4.43 billion available for borrowing under credit facilities[133] Tax and Interest Rates - The effective income tax rate for the three months ended March 31, 2024, was 2.8%, significantly lower than 25.6% in the same period of 2023[117] - Interest expense decreased by $34 million to $182 million, primarily due to a reduction in the weighted average interest rate from 5.4% to 5.0%[116] - Interest income increased slightly to $71 million, up from $70 million in the prior year, due to higher market rates[117] Risks and Competition - The company faces increased competition in Macao, including recent and upcoming increases in hotel rooms and potential additional gaming licenses[140] - The company is dependent on properties primarily in Macao and Singapore for all cash flow and the ability of subsidiaries to make distribution payments[140] Currency and Financial Instruments - Foreign currency transaction losses were $6 million for the three months ended March 31, 2024, primarily due to U.S. dollar denominated debt issued by SCL[144] - A hypothetical 10% weakening of the U.S. dollar/SGD exchange rate would result in a foreign currency transaction loss of approximately $36 million[144] - A hypothetical 1% weakening of the U.S. dollar/pataca exchange rate would lead to a foreign currency transaction loss of approximately $56 million[144] - The company is exposed to interest rate risk associated with its long-term debt and foreign currency exchange rate risk from operations outside the United States[144] - The company does not hold or issue financial instruments for trading purposes and does not enter into speculative derivative transactions[144] - The company maintains a significant amount of operating funds in the same currencies as its obligations, reducing exposure to currency fluctuations[144]

Key TakeawaysThe S&P 500 edged 0.2% lower on Thursday, April 18, 2024, in its fifth consecutive day of losses amid concerns about inflation.Las Vegas Sands shares fell as the casino operator said a remodeling project at a property in Macau would weigh on its results.Shares of Genuine Parts Co. jumped after the auto parts distributor raised its full-year profit guidance. After trading higher for much of the day, major U.S. equities indexes lost ground in the afternoon to end Thursday's session mixed. The S&P ...

Core Insights - Las Vegas Sands Corp. (LVS) reported strong first-quarter 2024 results, with earnings and revenues exceeding expectations and showing year-over-year growth [1][2] Financial Performance - Adjusted earnings per share (EPS) for Q1 2024 were 75 cents, surpassing the Zacks Consensus Estimate of 62 cents by 21%, and up from 28 cents in the same quarter last year [2] - Quarterly revenues reached $2.96 billion, exceeding the consensus mark of $2.94 billion by 0.6%, and representing a 39.6% increase from $2.12 billion in the prior year [2] Asian Operations - The Venetian Macao generated net revenues of $771 million, up from $558 million year-over-year, driven by increases in casino, rooms, food and beverage, and mall revenues [4] - The Londoner Macao reported net revenues of $562 million, significantly up from $283 million, supported by growth in casinos, rooms, and food and beverage revenues [6] - The Parisian Macao's net revenues increased to $230 million from $174 million, primarily due to improved casino, rooms, and food and beverage revenues [8] - Sands Macao's net revenues were $76 million, slightly up from $74 million, attributed to a rise in casino revenues [10] - Marina Bay Sands in Singapore saw net revenues of $1.16 billion, up from $848 million, driven by increases in casino, rooms, food and beverage, and mall revenues [11] Operational Metrics - Adjusted property EBITDA for LVS reached $1.21 billion in Q1 2024, compared to $792 million in the same quarter last year [13] - The Venetian Macao's hotel revenue per available room (RevPAR) was $198, up from $177, with occupancy rates at 97.7%, compared to 85.7% previously [5] - The Londoner Macao's hotel RevPAR increased to $182 from $108, with occupancy rates at 96.5%, up from 46.7% [7] - Marina Bay Sands' hotel RevPAR was $677, compared to $580 in the previous year, with occupancy rates at 95% [12] Balance Sheet - As of March 31, 2024, LVS had unrestricted cash balances of $4.96 billion, down from $5.11 billion in the previous quarter, and total debt outstanding was $13.94 billion, reduced from $14.01 billion [14]

Las Vegas Sands Corp. (NYSE:LVS) Q1 2024 Earnings Conference Call April 17, 2024 4:30 PM ET Company Participants Daniel Briggs - Senior Vice President of Investor Relations Robert Goldstein - Chairman and Chief Executive Officer Patrick Dumont - President and Chief Operating Officer Grant Chum - Chief Executive Officer & President, Sands China & Executive Vice President, Asia Operations Conference Call Participants Stephen Grambling - Morgan Stanley Carlo Santarelli - Deutsche Bank Joe Greff - J.P. Morgan S ...

Las Vegas Sands (LVS) reported $2.96 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 39.6%. EPS of $0.75 for the same period compares to $0.28 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.94 billion, representing a surprise of +0.64%. The company delivered an EPS surprise of +20.97%, with the consensus EPS estimate being $0.62.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

1Q24 Earnings Presentation April 17, 2024 Forward Looking Statements This presentation contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward- looking statements include the discussions of our business strategies and expectations concerning future operations, margins,profitability, liquidity and capital resources. In addition, in certain portions included in this press release, the words “anticipates,” “believes, ...