Las Vegas Sands Corp. (LVS) to Report First-Quarter 2024 Results: What to Expect?
Las Vegas Sands Corp. (LVS) is gearing up to report its first-quarter 2024 results on April 17, 2024, after the closing bell. Investors are eagerly awaiting the earnings release, especially after the company reported a negative earnings surprise of 9.5% in the previous quarter.
Analysts are optimistic about the upcoming results, with the Zacks Consensus Estimate for first-quarter earnings per share (EPS) at 62 cents, reflecting a significant surge of 121.4% from the year-ago quarter. Additionally, the consensus estimate for revenues is nearly $3 billion, indicating a robust increase of 39.9% from the same quarter last year.
Las Vegas Sands Corp. is expected to have benefited from the recovery momentum in travel and tourism demand in Macao and Singapore. The company’s investments in the Londoner project, along with strength in the gaming, lodging, and retail sectors, are likely to have contributed to its performance.
However, challenges such as an uncertain macroeconomic environment, construction disruptions, and inflationary pressures related to material and labor may have negatively impacted the company’s results in the first quarter.
Despite the positive outlook, our proven model does not conclusively predict an earnings beat for Las Vegas Sands this time. The company has an Earnings ESP of -0.06% and a Zacks Rank #4 (Sell).
Investors interested in the Consumer Discretionary sector may consider other stocks that have the potential to beat earnings estimates. Fox Corporation (FOXA), DraftKings Inc. (DKNG), and Boyd Gaming Corporation (BYD) are some of the stocks that our model suggests could post an earnings beat.
Stay tuned for Las Vegas Sands Corp.’s earnings release on April 17, 2024, to see how the company performed in the first quarter.