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Las Vegas Sands (LVS) to Post Q2 Earnings: What's in Store?
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Las Vegas Sands Corp.’s (LVS - Free Report) earnings and revenues are likely to increase, when the company reports second-quarter 2024 results.
In the last reported quarter, earnings and revenues topped the Zacks Consensus Estimate by 21% and 0.6%, respectively. On a year-over-year basis, the metrics increased by 167.9% and 39.6%, respectively.
How Are Estimates Placed?
The Zacks Consensus Estimate for second-quarter earnings per share (EPS) is pegged at 60 cents, indicating a surge of 30.4% from 46 cents reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $2.86 billion. The metric suggests an increase of 12.6% from the year-ago quarter’s figure.
Let’s take a look at how things have shaped up in the quarter.
Factors at Play
LVS’s top and the bottom line are expected to have increased year over year in second-quarter 2024 on the back of improved visitation in Macao and Singapore and expansion of non-gaming amenities. The company's performance is expected to have benefited from growth in property visitation, along with strength in gaming volumes, retail sales and hotel occupancy.
Las Vegas Sands is expected to witness revenue growth across its segments during the second quarter of 2024. Our model predicts net revenues for Venetian Macao, Londoner Macao, Parisian Macao and Sands Macao to witness a growth of 26.6%, 30.4%, 30.8%, 61.9% and 28.8% year over year to $826.9 million, $524.1 million, $312.7 million and $136 million, respectively.
Our model predicts second-quarter revenues from casino, rooms, food and beverage and mall to rise 15.9%, 18%, 17.3% and 4.6% year over year to $2,157.6 million, $349.2 million, $167.7 million and $179.8 million, respectively.
However, stiff competition is likely to have negatively impacted the company's performance in the to-be-reported quarter. The Macao market, in particular, faces potential market share challenges due to excess supply.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Las Vegas Sands this time. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. However, that's not the case here.
Earnings ESP: Las Vegas Sands has an Earnings ESP of -1.01%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
Planet Fitness, Inc. (PLNT - Free Report) has an Earnings ESP of +0.10% and a Zacks Rank of 3 at present.
PLNT is expected to register a 1.5% increase in earnings for the to-be-reported quarter. It reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 9.8%.
MGM Resorts International (MGM - Free Report) currently has an Earnings ESP of +14.70% and a Zacks Rank of 3.
MGM’s earnings for the to-be-reported quarter are expected to increase 11.9%. It reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 27.3%.
Skillz Inc. (SKLZ - Free Report) currently has an Earnings ESP of +6.84% and a Zacks Rank of 3.
SKLZ’s earnings for the to-be-reported quarter are expected to increase 16%. It reported better-than-expected earnings in two of the trailing four quarters and missed on one occasion, the average surprise being 1.6%.
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Las Vegas Sands (LVS) to Post Q2 Earnings: What's in Store?
Las Vegas Sands Corp.’s (LVS - Free Report) earnings and revenues are likely to increase, when the company reports second-quarter 2024 results.
In the last reported quarter, earnings and revenues topped the Zacks Consensus Estimate by 21% and 0.6%, respectively. On a year-over-year basis, the metrics increased by 167.9% and 39.6%, respectively.
How Are Estimates Placed?
The Zacks Consensus Estimate for second-quarter earnings per share (EPS) is pegged at 60 cents, indicating a surge of 30.4% from 46 cents reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $2.86 billion. The metric suggests an increase of 12.6% from the year-ago quarter’s figure.
Let’s take a look at how things have shaped up in the quarter.
Factors at Play
LVS’s top and the bottom line are expected to have increased year over year in second-quarter 2024 on the back of improved visitation in Macao and Singapore and expansion of non-gaming amenities. The company's performance is expected to have benefited from growth in property visitation, along with strength in gaming volumes, retail sales and hotel occupancy.
Las Vegas Sands is expected to witness revenue growth across its segments during the second quarter of 2024. Our model predicts net revenues for Venetian Macao, Londoner Macao, Parisian Macao and Sands Macao to witness a growth of 26.6%, 30.4%, 30.8%, 61.9% and 28.8% year over year to $826.9 million, $524.1 million, $312.7 million and $136 million, respectively.
Our model predicts second-quarter revenues from casino, rooms, food and beverage and mall to rise 15.9%, 18%, 17.3% and 4.6% year over year to $2,157.6 million, $349.2 million, $167.7 million and $179.8 million, respectively.
However, stiff competition is likely to have negatively impacted the company's performance in the to-be-reported quarter. The Macao market, in particular, faces potential market share challenges due to excess supply.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Las Vegas Sands this time. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. However, that's not the case here.
Earnings ESP: Las Vegas Sands has an Earnings ESP of -1.01%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks Poised to Beat Earnings Estimates
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
Planet Fitness, Inc. (PLNT - Free Report) has an Earnings ESP of +0.10% and a Zacks Rank of 3 at present.
PLNT is expected to register a 1.5% increase in earnings for the to-be-reported quarter. It reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 9.8%.
MGM Resorts International (MGM - Free Report) currently has an Earnings ESP of +14.70% and a Zacks Rank of 3.
MGM’s earnings for the to-be-reported quarter are expected to increase 11.9%. It reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 27.3%.
Skillz Inc. (SKLZ - Free Report) currently has an Earnings ESP of +6.84% and a Zacks Rank of 3.
SKLZ’s earnings for the to-be-reported quarter are expected to increase 16%. It reported better-than-expected earnings in two of the trailing four quarters and missed on one occasion, the average surprise being 1.6%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.