Las Vegas Sands (LVS) to Post Q3 Earnings: What's in the Cards?
Las Vegas Sands Corp. LVS is scheduled to report third-quarter 2023 results on Oct 18 after the closing bell. In the previous quarter, the company reported an earnings surprise of 2.2%.
How Are Estimates Placed?
The Zacks Consensus Estimate for third-quarter earnings per share (EPS) is pegged at 53 cents. In the prior-year quarter, LVS reported a loss of 27 cents.
For revenues, the consensus mark is pegged at nearly $2.7 billion. The metric suggests an increase of 168.1% from the year-ago quarter’s figure.
Las Vegas Sands Corp. Price and EPS Surprise
Las Vegas Sands Corp. price-eps-surprise | Las Vegas Sands Corp. Quote
Let's look at how things have shaped up in the quarter.
Factors at Play
Las Vegas Sands’ third-quarter top line is expected to have increased year over year on the back of improved visitation in Macao and Singapore and expansion of non-gaming amenities. Solid inflow of high-value customers coupled with strength in gaming volumes, retail sales and hotel occupancy are likely to have aided the company’s performance in the to-be-reported quarter.
Las Vegas Sands is expected to witness revenue growth across its segments during the third quarter of 2023. Our model predicts net revenues for Venetian Macao, Londoner Macao, Parisian Macao, Sands Macao and Marina Bay Sands to witness a growth of 554.7%, 544.5%, 1,065.5%, 829.9% and 28.8% year over year to $680.9 million, $367.4 million, $244.8 million, $102.2 million and $973.5 million, respectively.
Our model predicts third-quarter revenues from casino, rooms, food and beverage and mall to rise 210%, 117.4%, 56.7% and 44.6% year over year to $1,974.9 million, $267.5 million, $128.5 million and $172.1 million, respectively.
Although sequential improvements in terms of air traffic are likely, it is still expected to remain below pre-pandemic levels. An increase in gaming tax and inflationary pressures related to material and labor will likely impact the company’s margins in the to-be-reported quarter.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Las Vegas Sands this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates. But that's not the case here.
Earnings ESP: Las Vegas Sands has an Earnings ESP of -1.22%. 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.
Caesars Entertainment, Inc. CZR has an Earnings ESP of +18.11% and a Zacks Rank #2.
Shares of Caesars Entertainment have increased 24.5% in the past year. CZR’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 74.3%.
Marriott International, Inc. MAR has an Earnings ESP of +1.59% and a Zacks Rank #3.
Shares of Marriott have gained 37.8% in the past year. MAR’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 5.5%.
Boyd Gaming Corporation BYD has an Earnings ESP of +2.50% and a Zacks Rank #3.
Shares of Boyd Gaming have gained 18% in the past year. BYD’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 12.2%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Marriott International, Inc. (MAR) : Free Stock Analysis Report
Las Vegas Sands Corp. (LVS) : Free Stock Analysis Report
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
Caesars Entertainment, Inc. (CZR) : Free Stock Analysis Report
