Las Vegas Sands Q3 operating profit misses estimates as Marina Bay Sands revenue falls

Las Vegas Sands

Wed 21:13

Overview
Global integrated resort operator's Q3 revenue declined yr/yr and missed analyst expectations
Q3 operating profit missed analyst estimates
Company repurchased $950 mln in stock and raised dividend 20% for 2027

Outlook
Las Vegas Sands raises annual dividend for 2027 to $1.44 per share
Company expects growth in Singapore after completion of ongoing Marina Bay Sands expansion
Las Vegas Sands plans continued investment in Macao to support future growth

Result Drivers
MACAO GAMING SEGMENTS - Co said investments in service and hospitality drove growth in gaming volumes across all segments in Macao
SINGAPORE GAMING PERFORMANCE - Marina Bay Sands revenue and adjusted property EBITDA fell as lower rolling volume and a weaker non-rolling win rate offset growth in non-gaming revenue
CAPITAL INVESTMENT - Co said capital investment programs position properties to benefit from demand for premium travel and entertainment

Company press release: ID:nPn1C7Jr2a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$3.22 bln
$3.36 bln (15 Analysts)
Q3 EPS
 
$0.48
 
Q3 Net Income
 
$352 mln
 
Q3 Operating profit
Miss
$618 mln
$731.11 mln (11 Analysts)
Q3 Capex
 
$281 mln
 
Q3 Pretax Profit
 
$454 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the casinos & gaming peer group is "buy"
Wall Street's median 12-month price target for Las Vegas Sands Corp. is $55.00, about 44.1% above its October 20 closing price of $38.17
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)