Las Vegas Sands Corp.'s LVS revenues are likely to decrease, while earnings are expected to remain flat year over year in third-quarter 2024.

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In the last reported quarter, earnings and revenues missed the Zacks Consensus Estimate by 6.8% and 2.7%, respectively. However, the metrics increased on a year-over-year basis by 19.6% and 8.6%, respectively.

How Are Estimates Placed for LVS’ Q3?

The Zacks Consensus Estimate for third-quarter earnings per share is pegged at 55 cents, in line with the year-ago quarter’s reported figure. In the past 30 days, estimate revisions have declined from 56 cents.

Las Vegas Sands Corp. Price and EPS Surprise

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For revenues, the consensus mark is pegged at nearly $2.79 billion. The metric indicates a decline of 0.2% from the year-ago quarter’s figure.

Factors to Shape LVS’ Q3 Results

LVS' top line is expected to have declined slightly in the third quarter, primarily due to a slowdown in visitation recovery from pre-pandemic levels. Also, stiff competition, construction disruptions and inflationary pressures related to material and labor are 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.

For the to-be-reported quarter, our model predicts net revenues for Venetian Macao and Londoner Macao to decline 3.8% and 0.8%, respectively, year over year to $695.7 million and $514 million.

However, the recovery momentum in travel and tourism demand in Macao and Singapore, along with growth in non-gaming amenities, is likely to have aided LVS' performance in the to-be-reported quarter. Strength in the gaming, lodging and retail sectors, along with improvements in hotel occupancy, is likely to have contributed to results.

Our model predicts net revenues for Parisian Macao, The Plaza Macao and Four Seasons Macao, Sands Macao and Marina Bay Sands to witness growth of 0.5%, 15.7%, 9.4% and 9.1%, respectively, year over year to $245.2 million, $222.1 million, $90.8 million and $1,107.9 million.

We expect revenues from casino, rooms and food and beverage to rise 3.3%, 4.4% and 10.4%, respectively, year over year to $2,074.6 million, $357 million and $172.2 million.

Also, the company's plans to introduce significant policies to address the reduction in visitation recovery rate are likely to have positively impacted performance. These initiatives include expanding individual business schemes and relaxing visa regulations, which are expected to support growth in visitation.