Las Vegas Sands (LVS) Q2 2026 Earnings

No. Las Vegas Sands reported Q2 2026 earnings of $0.59 a share on Jul 22, 2026, missing the $0.76 consensus estimate by 22.8%. Revenue was $3.2B against a $3.3B estimate.

Las Vegas Sands delivered a disappointing second quarter, missing Wall Street expectations on both the top and bottom lines as an unusual stretch of cold cards in Macao weighed heavily on results. The casino giant posted adjusted EPS of $0.59, falling 22.82% short of the $0.76 consensus estimate, snapping a four-consecutive-quarter streak of beating EPS forecasts. Revenue came in at $3.15 billion, a 5.06% miss versus the $3.32 billion analysts had projected and a modest 0.7% decline from the year-ago period. The primary culprit was abnormally low rolling chip hold across the Macao portfolio; on a hold-adjusted basis, Macao net revenues would have been $147 million higher and adjusted property EBITDA $87 million higher, underscoring just how much variance in one metric can move the needle. Concerns about Macao's gaming recovery had already prompted analysts to trim price targets heading into the print. Looking ahead, management pointed to ongoing investment in Macao service offerings and Singapore's Marina Bay Sands expansion as key drivers of future volume growth, while a boosted $6 billion buyback authorization signals continued confidence in the long-term business.