NYSE$LVS
Las Vegas Sands Corp · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Las Vegas Sands experienced a robust recovery in travel and tourism spending across its markets, with strong performances in both Macao and Singapore.
Las Vegas Sands Corp. reported strong first-quarter 2023 results, driven by a robust recovery in travel and tourism spending in Macao and Singapore. Net revenue was $2.12 billion, compared to $943 million in the prior year quarter. Operating income was $378 million, compared to an operating loss of $302 million in the prior year quarter. Net income from continuing operations was $145 million, compared to a net loss of $478 million in the prior year. Consolidated adjusted property EBITDA was $792 million, compared to $110 million in the prior year quarter.
- A robust recovery in travel and tourism spending is now underway in both Macao and Singapore.
- At Marina Bay Sands, Adjusted Property EBITDA Reached $394 million, with Mass Gaming Revenue reaching an All-Time Property Record $549 million.
- In Macao, Adjusted Property EBITDA Reached $398 million, with the Macao Property Portfolio Mass Gaming Revenue Reaching $1 billion for the First Time Since 2019.
- Market-Leading Investments in Macao and Singapore Position the Company for Strong Growth as the Recovery in Travel and Tourism Spending Progresses
Headline financials
Revenue & EPS history
Las Vegas Sands · Revenue · Quarterly
$2.12B
Revenue by segment
Las Vegas Sands · $2.12B total across 5 segments · Q1 2023
- Casino$1.54B+145.8%72.7%
- Rooms$243M+155.8%11.5%
- Mall$162M+8.7%7.6%
- Food and beverage$124M+134.0%5.8%
- Convention, retail and other$50M+163.2%2.4%
Forward guidance
The company is enthusiastic about welcoming more guests back to its properties throughout 2023 and in the years ahead. The company remains energized by the opportunity to introduce its new suite product to more customers as airlift capacity continues to improve and the recovery in travel and tourism spending from China and the wider region continues.
Tailwinds
- Ongoing recovery at Marina Bay Sands with outstanding performance in mass gaming and tenant sales.
- Opportunity to introduce new suite product to more customers as airlift capacity improves.
- Acceleration of recovery in all gaming and non-gaming segments in Macao.
- Opportunity to continue investments to enhance Macao’s tourism appeal.
- Commitment to investments in team members, communities, and Integrated Resort property portfolio.
Headwinds
- Travel restrictions and reduced visitation continued to impact financial performance during the quarter.
- Interest expense increased due to borrowings under the SCL Credit Facility.
- Income tax expense increased due to increased profitability of Singapore operations.
- Fluctuations in currency exchange rates and interest rates.
- Uncertainty about the pace of recovery of travel and tourism in Asia from the impacts of the COVID-19 pandemic
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.4%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+0.8%
Avg return
30 days after
47%
32 / 68 earnings
Positive
+13.0%
Q1 2020
Best reaction
-9.7%
Q1 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.0% | -4.6% | -13.1% | |
| Q4 2025 | -4.7% | -7.1% | -7.4% | |
| Q3 2025 | +12.4% | +15.0% | +27.0% | |
| Q2 2025 | -0.8% | -0.9% | -1.1% | |
| Q1 2025 | +5.7% | +6.4% | +15.8% | |
| Q4 2024 | +11.1% | +2.5% | +2.9% | |
| Q3 2024 | +1.4% | +3.6% | -3.2% | |
| Q2 2024 | -4.4% | -3.8% | -1.3% | |
| Q1 2024 | -9.2% | -7.8% | -6.9% | |
| Q4 2023 | +2.3% | +4.4% | -1.3% | |
| Q3 2023 | +1.2% | +2.5% | +8.3% | |
| Q2 2023 | -5.9% | -5.8% | -11.1% | |
| Q1 2023 | +3.7% | +7.8% | +1.9% | |
| Q4 2022 | +5.2% | +4.3% | +1.2% | |
| Q3 2022 | +4.9% | -2.2% | +21.7% | |
| Q2 2022 | +11.2% | +9.3% | +5.9% | |
| Q1 2022 | +2.7% | +5.6% | -0.4% | |
| Q4 2021 | -6.2% | -2.4% | -0.8% | |
| Q3 2021 | -3.8% | -5.7% | -5.1% | |
| Q2 2021 | -1.2% | -5.1% | -21.4% | |
| Q1 2021 | -1.2% | +0.4% | -2.2% | |
| Q4 2020 | -6.4% | -6.4% | +19.4% | |
| Q3 2020 | +7.8% | +6.3% | +21.0% | |
| Q2 2020 | -6.5% | -9.4% | +1.1% | |
| Q1 2020 | +13.0% | +14.0% | +15.3% | |
| Q4 2019 | +2.8% | +3.3% | -9.5% | |
| Q3 2019 | +4.3% | +6.4% | +4.6% | |
| Q2 2019 | -3.9% | -4.4% | -18.6% | |
| Q1 2019 | +0.1% | -2.0% | -11.5% | |
| Q4 2018 | -1.2% | -1.4% | +8.0% | |
| Q3 2018 | +1.7% | -4.9% | -4.9% | |
| Q2 2018 | -4.3% | -5.7% | -12.0% | |
| Q1 2018 | -0.9% | -0.6% | +7.5% | |
| Q4 2017 | -3.0% | +1.8% | -4.3% | |
| Q3 2017 | -0.9% | -2.7% | +7.1% | |
| Q2 2017 | -0.6% | -1.6% | -4.0% | |
| Q1 2017 | +1.2% | +1.6% | -0.8% | |
| Q4 2016 | -6.3% | -5.6% | -6.8% | |
| Q3 2016 | +2.6% | +3.3% | +5.9% | |
| Q2 2016 | +7.0% | +7.0% | +6.4% | |
| Q1 2016 | -9.7% | — | — | |
| Q4 2015 | +4.7% | — | — | |
| Q3 2015 | -1.5% | — | — | |
| Q2 2015 | +1.6% | — | — | |
| Q1 2015 | -0.6% | — | — | |
| Q4 2014 | -2.6% | — | — | |
| Q3 2014 | +7.4% | — | — | |
| Q2 2014 | -1.2% | — | — | |
| Q1 2014 | -1.2% | — | — | |
| Q4 2013 | +3.5% | — | — | |
| Q3 2013 | +4.3% | — | — | |
| Q2 2013 | -2.4% | — | — | |
| Q1 2013 | +1.3% | — | — | |
| Q4 2012 | +8.2% | — | — | |
| Q3 2012 | -0.7% | — | — | |
| Q2 2012 | -5.2% | — | — | |
| Q1 2012 | +1.0% | — | — | |
| Q4 2011 | +3.5% | — | — | |
| Q3 2011 | -7.3% | — | — | |
| Q2 2011 | +5.6% | — | — | |
| Q1 2010 | +2.0% | — | — | |
| Q1 2011 | +0.4% | — | — | |
| Q4 2008 | -0.7% | — | — | |
| Q4 2010 | -0.7% | — | — | |
| Q3 2009 | -5.3% | — | — | |
| Q3 2010 | -5.3% | — | — | |
| Q2 2010 | -1.4% | — | — | |
| Q4 2009 | -1.4% | — | — |
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