Form 10-Q · Quarterly report
Las Vegas Sands 10-Q, filed Jul 24, 2026
- Filed
- CIK
- 0001300514
- Accession no.
- 0001300514-26-000085
Summary
Las Vegas Sands reported second-quarter 2026 net revenues of $3.154 billion, down 0.7% from a year earlier, with net income falling 28.1% to $373 million as casino win percentages declined at Marina Bay Sands and in Macao; first-half net revenues rose 11.6% to $6.739 billion while adjusted property EBITDA in Macao fell 3.5% on higher patron reinvestment and payroll costs and Singapore EBITDA rose 7.6%.
Key points
- Second-quarter 2026 net revenues were $3.154 billion versus $3.175 billion a year earlier, with net income of $373 million and diluted EPS of $0.53, down from $519 million and $0.66.
- First-half 2026 net revenues rose 11.6% to $6.739 billion and net income rose 9.4% to $1.014 billion, though consolidated adjusted property EBITDA edged up only 2.7% to $2.540 billion.
- Macao adjusted property EBITDA fell $38 million, or 3.5%, in the first half despite net revenue growth of 11.1%, which the company attributed to higher patron reinvestment and payroll costs.
- Singapore adjusted property EBITDA rose $104 million, or 7.6%, on an 11.7% increase in net gaming revenue to $2.15 billion; the company repurchased $1.53 billion of stock and paid $400 million in dividends in the half.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2 — MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion should be read in conjunction with, and is qualified in its entirety by, the condensed consolidated financial statements and the notes thereto, and other financial information included in this Quarterly Report on Form 10-Q. Certain statements in this “Management’s Discussion and Analysis of Financial Condition and Results of Operations” are forward-looking statements. …
An excerpt of the text as filed with the SEC, cut for length.
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