What's In Store For Las Vegas Sands (LVS) In Q3 Earnings?
Zacks Investment Research | Oct 17, 2019 11:18PM ET
Las Vegas Sands Corp. (NYSE:LVS) is slated to release third-quarter 2019 financial numbers on Oct 23, after the closing bell. In the last reported quarter, the company’s bottom line missed the Zacks Consensus Estimate by 11.1%.
Q3 Expectations
The Zacks Consensus Estimate for third-quarter earnings is pegged at 76 cents, lower than 77 cents reported in the year-ago quarter. Over the past 30 days, the company’s earnings estimates have remained unchanged. The consensus estimates for revenues stands at nearly $3,314 million, indicating a declining 1.7% from the prior-year quarter reported figure.
Let’s see how things are shaping up prior to this announcement.
Factors at Play
Decline in revenues at Sand Cotai Central is anticipated to get reflected in Las Vegas Sands’ top line in third-quarter 2019. For Sand Cotai Central operations, the consensus estimate for third-quarter revenues is pegged at $518 million, suggesting a decline 3.5% from the year-earlier quarter. Moreover, the company’s third-quarter results are anticipated to reflect slowdown in China and dismal performance of high-end VIP segment thanks to flagging China property price.
However, robust performance of Las Vegas operations, Marine Bay Sands, Venetian Macao segments and Sands Macao are likely to have contributed to the company’s performance. For Las Vegas operations, the consensus estimate for third-quarter revenues stands at $412 million, indicating an improvement of 8.7% from the year-earlier quarter figure. Moreover, the company’s Marine Bay Sands segment is anticipated to have witnessed recovery after reporting dismal results over the past few quarters. For this segment, the consensus mark is pegged at $772 million, suggesting an improvement of 0.8% from the prior-year reported figure.
Las Vegas Sands Corp. Price and EPS Surprise
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