The earnings call highlights significant growth in the Macao and Singapore markets and strategic investments in property expansions. However, there were notable challenges with EBITDA impacts in Macao and a decrease in turnover rents.

Company Guidance

During the Sands Fourth Quarter 2024 Earnings Call, the company provided detailed guidance and metrics regarding its performance and future expectations. In Macao, gaming revenue grew 6% year-over-year in Q4, with mass gaming revenue up by 5%. The company anticipates that Macao's gross gaming revenue will exceed $30 billion in 2025, driven by high-quality assets and increased room inventory, including the upcoming completion of the Londoner with 1,500 suites and 905 rooms by May 2025. Macao's EBITDA for the quarter was $571 million, with a potential $22 million increase if not for lower-than-expected hold in the rolling segment. The EBITDA margin for Macao properties, excluding the Londoner, was 35.1%. In Singapore, Marina Bay Sands reported $537 million in adjusted property EBITDA, with mass gaming revenue reaching $746 million, reflecting substantial growth from previous years. The company's capital investment programs are expected to bolster growth, with the completion of a $1.75 billion investment by mid-2025. Additionally, Sands repurchased $450 million of LVS stock and $250 million of Sands China stock, while increasing the annual dividend to $1 per share for 2025. The guidance emphasized the company's strategic focus on high-quality tourism and market-leading assets to drive long-term growth and shareholder returns.

Growth in Macao Market

Gaming revenue in Macao grew by 6% in Q4 2024 compared to Q4 2023, with mass gaming revenue increasing by 5%.

Strong Performance in Singapore

Marina Bay Sands reported $537 million in adjusted property EBITDA, showing a 28% growth compared to the previous year.

Londoner Grand Expansion

The Londoner Grand Casino opened its doors in late September with 315 suites, and the full complement of 1,500 suites and rooms is expected by May 2025.

Capital Return to Shareholders

Repurchased $450 million of LVS stock and increased the annual dividend to $1 per share for 2025.

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Las Vegas Sands (LVS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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LVS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 16, 2025	2025 (Q1)	0.59 / -	0.75	―	―	―
Jan 29, 2025	2024 (Q4)	0.57 / 0.54	0.57	-5.26% (-0.03)
Oct 23, 2024	2024 (Q3)	0.53 / 0.44	0.55	-20.00% (-0.11)
Jul 24, 2024	2024 (Q2)	0.58 / 0.55	0.46	19.57% (+0.09)
Apr 17, 2024	2024 (Q1)	0.62 / 0.75	0.28	167.86% (+0.47)
Jan 24, 2024	2023 (Q4)	0.61 / 0.57	-0.19	400.00% (+0.76)
Oct 18, 2023	2023 (Q3)	0.55 / 0.55	-0.27	303.70% (+0.82)
Jul 19, 2023	2023 (Q2)	0.44 / 0.46	-0.343	234.11% (+0.80)
Apr 19, 2023	2023 (Q1)	0.20 / 0.28	-0.4	170.00% (+0.68)
Jan 25, 2023	2022 (Q4)	-0.09 / -0.19	-0.22	13.64% (+0.03)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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LVS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 29, 2025	$43.18	$47.96	+11.07%
Oct 23, 2024	$50.54	$51.96	+2.81%
Jul 24, 2024	$39.72	$38.75	-2.44%
Apr 17, 2024	$49.27	$45.00	-8.67%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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