LAS VEGAS SANDS CORP — Form 8-K
Filed July 22, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 38/100
What the filing says
Las Vegas Sands reported Q2 2026 net revenue of $3.15B (down 0.7% YoY) and net income of $373M (down 28% YoY to $346M attributable to LVS). Consolidated Adjusted Property EBITDA fell 16% to $1.12B. Macao operations struggled with unusually low rolling chip hold; Marina Bay Sands (Singapore) remained strong at $689M EBITDA but down 10% YoY. LVS repurchased $787M of stock (15M shares at $52.37/share) in Q2; the Board authorized a new $6.0B repurchase program on July 21, 2026 (expiring July 2029), with $4.68B available under a delayed draw term loan for the MBS Expansion Project. Total debt was $15.11B; unrestricted cash $3.38B.
Why this rating
Revenue flat but earnings down 28% due to gaming hold volatility in Macao. At $13B market cap, a $1.12B EBITDA quarter (down 16%) and negative momentum in largest segment warrant attention, but capital return and Singapore strength offset near-term concern.
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