Companies /Consumer Cyclical
Las Vegas Sands Corp
NYSE: LVS Resorts & Casinos
$36.53
▼ $0.98 (−2.61%) today
Markets closed · 11:57pm ET

Las Vegas Sands (LVS) Q3 2026 Earnings

Reported Oct 21, 2026, 4:08pm ET · SEC source
$0.54
Miss −25.07%
EPS · est. $0.72 Adjusted
$3.2B
Miss −4.66%
Revenue · est. $3.4B
2 quarters
Consecutive EPS misses

How Did LVS Stock React to Q3 2026 Earnings?

% change · around the report
−2%0+2%Oct 21Oct 22report 4:08pm ETearnings−1.3%+0.4%
−2%0+2%Oct 21Oct 22earnings−1.3%+0.4%
LVS +0.4%S&P 500 −1.3%
−2%0+2%Oct 21Oct 22report 4:08pm ETearnings−3.1%+0.4%
−2%0+2%Oct 21Oct 22earnings−3.1%+0.4%
LVS +0.4%NASDAQ −3.1%
0+2%+4%Oct 20Oct 22report 4:08pm ETearnings−1.2%+0.1%
0+2%+4%Oct 20Oct 22earnings−1.2%+0.1%
LVS +0.1%S&P 500 −1.2%
−3%0+3%Oct 20Oct 22report 4:08pm ETearnings−3.1%+0.1%
−3%0+3%Oct 20Oct 22earnings−3.1%+0.1%
LVS +0.1%NASDAQ −3.1%
−2.61%
Day of report

Did LVS Beat Earnings? Q3 2026 Results

No. Las Vegas Sands reported Q3 2026 earnings of $0.54 a share on Oct 21, 2026, missing the $0.72 consensus estimate by 25.1%. Revenue was $3.2B against a $3.4B estimate.

Las Vegas Sands delivered a disappointing third quarter, missing Wall Street expectations on both the top and bottom lines as weaker gaming results in Singapore weighed heavily on consolidated performance. The integrated resort operator posted adjusted EPS of $0.54, falling 25.07% short of the $0.72 consensus estimate, while net revenue of $3.22 billion trailed the $3.37 billion forecast by 4.66% and declined 3.5% from the year-ago period. The primary culprit was Marina Bay Sands, where a sharp drop in Non-Rolling Chip win percentage to 18.7% from 24.5% drove casino revenue down $161 million year-over-year, compressing the Singapore property's EBITDA margin by 6.1 percentage points to 45.6%. Macao offered a partial offset, with Sands China revenues edging up 1.4% to $1.94 billion. Analysts have been trimming price targets on the stock in recent weeks, reflecting the back-to-back revenue misses. Despite the near-term turbulence, management signaled confidence in long-term growth, announcing a 20% dividend increase for 2027 to $1.44 per share and continuing aggressive buybacks totaling $950 million during the quarter.

Key Takeaways
  • Marina Bay Sands casino revenue declined due to lower Rolling Chip win percentage and Non-Rolling Chip win percentage
  • Macao operations showed modest revenue growth of 1.4% driven by volume increases across gaming segments
  • Sands Macao net revenues grew 37.5% year-over-year driven by higher Non-Rolling Chip drop and slot handle
  • The Plaza Macao and Four Seasons Macao net revenues grew 15.5% year-over-year
  • Effective tax rate increased to 22.5% from 15.6% in prior year quarter
  • Resort operations costs increased to $2.103 billion from $1.998 billion year-over-year

“We continued to execute our strategic objectives during the quarter in both Singapore and Macao while increasing the return of capital to shareholders, including through the repurchase of $950 million of our common stock during the quarter.”

Las Vegas Sands CEO, on the earnings call

What Is Las Vegas Sands's Outlook?

Management expressed confidence in the long-term strategy in both Singapore and Macao, citing balance sheet and cash flow strength to support meaningful capital investment programs. The MBS expansion project is ongoing and will meaningfully increase suite capacity and entertainment offerings, including a new arena. Approximately 500 rooms at The Venetian Macao are expected to be out of service through Q4 2027 due to renovations. The board announced a 20% increase in the annual common stock dividend for calendar year 2027, raising it to $1.44 per share ($0.36 per quarter).

LVS YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$1.0B$2.0B$3.0B$3.3B$3.2BRevenue$794.0M$618.0MOperating Income$419.0M$352.0MNet Income
$0$1.0B$2.0B$3.0BRevenueOperating IncomeNet Income
LVS income statement, Q3 2026 versus Q3 2025
Metric Q3 2026 Q3 2025 Year over year
Revenue $3.2B $3.3B −3.5%
Operating Income $618.0M $794.0M −22.2%
Net Income $352.0M $419.0M −16.0%

LVS Revenue by Segment

Marina Bay Sands$1.3B−9.9%
The Londoner Macao$685.0M−0.1%
The Venetian Macao$649.0M−6.2%
The Plaza Macao & Four Seasons Macao$238.0M+15.5%
The Parisian Macao$231.0M+6.0%
Sands Macao$99.0M+37.5%
Ferry Operations and Other$38.0M+18.8%

LVS Revenue by Geography

China$1.9B+1.8%
Asia Pacific
Asia
Singapore$1.3B−9.9%

Figures from SEC filings and company reports. Not investment advice.