Las Vegas Sands Corp. earnings overview

LVS FY2026 Q1 · Calendar Q2 2026

Las Vegas Sands Corp.

Las Vegas Sands posted a double beat in Q1 FY2026, with EPS of $0.91 versus $0.756 consensus (+20.4% surprise) and revenue of $3.585B versus $3.362B estimate (+6.6% surprise). Marina Bay Sands EBITDA climbed 30% year-over-year to $788M and Macau EBITDA rose 18% to $633M, with the latter improving sequentially from $608M in the prior quarter. The company returned $740M through share repurchases and paid a $0.30 dividend. Despite the beat, the stock fell 8.6% in the reaction window with a subsequent drift of -4.8%, suggesting investors focused on the absence of explicit guidance, elevated capex from the Venetian renovation and IR2 launch, and concerns about rolling hold sustainability. The bullish score of 82 and confident management tone contrast with the negative market reaction, indicating a disconnect between operational performance and near-term sentiment.