The earnings call presented a generally positive outlook, highlighting significant growth in the Macao and Singapore markets, strong EBITDA performance, and increased capital returns to shareholders. However, challenges remain with ongoing disruptions at the Londoner and the slow recovery of the base mass segment.

Company Guidance

During the third-quarter 2024 earnings call for Las Vegas Sands (LVS), several key metrics and forward-looking guidance were provided. The company reported that Macao's EBITDA reached $585 million, with an adjusted EBITDA margin of 35.1% for their portfolio of properties, excluding the Londoner. The Londoner Grand opened with the first 300 suites in September, and a total of 1,500 suites are expected to be operational by Lunar New Year 2025. The company anticipates Macao market gross gaming revenues to exceed $30 million in 2025. In Singapore, Marina Bay Sands (MBS) posted an EBITDA of $406 million, with an adjusted margin of 47.5%, reflecting the ongoing capital investment program. LVS repurchased $450 million of its own shares during the quarter and increased its annual dividend to $1 per share for the 2025 calendar year. The company remains optimistic about capturing high-value tourism growth and plans to invest further in its integrated resort developments.

Macao Market Growth

Macao market total gaming revenue grew by 13% in Q3 2024 compared to the same period in 2023. The company expects further growth, projecting gross gaming revenues to exceed $30 million in 2025.

EBITDA Performance

Macao EBITDA was $585 million, with an expectation of further growth and margin expansion once the Londoner Grand renovation is complete.

Singapore Market Strength

Marina Bay Sands' EBITDA was $406 million, with an EBITDA margin improvement expected once renovations are complete. The company is optimistic about future growth driven by high-value tourism.

Capital Return to Shareholders

The company repurchased $450 million in shares during the quarter and increased its repurchase authorization to $2 billion. Additionally, the annual dividend was increased 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
Jan 22, 2025	2024 (Q4)	0.58 / -	0.57	―	―	―
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)
Oct 19, 2022	2022 (Q3)	-0.24 / -0.27	-0.46	41.30% (+0.19)

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
Oct 23, 2024	$50.84	$52.26	+2.79%
Jul 24, 2024	$39.95	$38.98	-2.43%
Apr 17, 2024	$49.56	$45.26	-8.68%
Jan 24, 2024	$48.78	$49.28	+1.03%

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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