LVS Q3: EBITDA Falls 16.7% to $1.12B; 2027 Dividend Raised to $1.44/Share
LVS is trading near its 52-week low of $35.03 (1.6% above the low).
Summary
Las Vegas Sands' Q3 EBITDA fell 16.7% to $1.12 billion on weaker Marina Bay Sands win rates and rising Macao costs, while the company repurchased $2.50 billion of stock in nine months and raised the 2027 dividend to $1.44 per share.
Key Events · Earnings and Guidance · LVS
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Q3 EBITDA Drops 16.7%
Consolidated adjusted property EBITDA fell to $1,119 million from $1,344 million, with Marina Bay Sands down 20.6% to $590 million and Macao down 12.0% to $529 million.
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EPS Falls to $0.48
Net revenues of $3,216 million were down 3.5% and net income of $352 million was down 28.3% year over year; diluted EPS was $0.48 versus $0.61.
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$2.50B Buyback, $5.06B Left
49,062,032 shares were repurchased for $2,502 million in the first nine months; $5.06 billion remains under the $6.0 billion authorization extended to July 21, 2029.
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2027 Dividend Raised to $1.44
The board announced a $0.24 increase in the recurring common dividend for 2027, lifting the annual rate to $1.44 per share ($0.36 per quarter) from $1.20.
Analysis · LVS · Real Estate & Construction
The quarter was weak where it counts: consolidated adjusted property EBITDA fell 16.7% to $1,119 million as Marina Bay Sands EBITDA dropped 20.6% to $590 million on lower table win percentages and higher payroll, and Macao EBITDA slipped 12.0% to $529 million on heavier patron reinvestment and gaming taxes. Net income fell 28.3% to $352 million and diluted EPS came in at $0.48 versus $0.61. Against that, management kept buying: 49.1 million shares repurchased for $2.50 billion in the first nine months, with $5.06 billion left on the authorization, and the board lifted the 2027 dividend to $1.44 annually from $1.20 — a payout commitment that only holds if cash flow stabilizes. Liquidity is not the issue ($2.86 billion unrestricted cash plus $4.27 billion of revolver capacity), but the stock sits near its 52-week low, so the buyback is absorbing shares into a falling price rather than supporting it.
How filings like this one have moved
In the 30 days to Oct 23, 2026, 29.2% of the 1549 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.17%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LVS was trading at $35.60 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $23.1B. The 52-week trading range was $35.03 to $70.45. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.