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Las Vegas Sands LVS Q1 2025 earnings

Reported April 23, 2025 · After market close

Revenue$2.9BMiss by $20.6M
EPS$0.59Beat by $0.02
Revenue estimate$2.9B
EPS estimate$0.57

Next report

Oct 21, 2026 (in 2 months)
Revenue estimate$3.4B
EPS estimate$0.77

Financials

Q1 2025

Income statement

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Revenue$2.9B-3.3%
Operating income$609.0M-15.1%
Net income$352.0M-28.7%
EPS (diluted)$0.49-25.8%

Balance sheet

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Cash & equivalents$3.2B-37.8%
Total debt$16.8B+5.3%
Total equity$2.7B-31.7%
Total assets$21.2B0.0%

Cash flow

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Operating cash flow$526.0M-26.3%
CapEx$379.0M+93.4%
Free cash flow$147.0M-71.6%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$27.66B-28.7%
Enterprise value$41.34B-16.8%
P/E21.2×-3.5×
P/S2.5×-1.0×

Profitability

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Operating margin20.5%-3.2pp
Net margin11.6%-2.3pp
FCF margin11.3%-10.6pp

Returns & leverage

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Return on equity39.2%+0.1pp
Debt / equity6.2×+2.2×
Current ratio0.6×-0.7×

Segments

By product

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Casino$2.1B-4.5%
Rooms$324.0M-1.8%
Mall$186.0M+6.9%
Food and Beverage$141.0M-6.0%

By geography

See full
Macao$1.7B-6.1%
Singapore$1.2B+0.3%
United States-$61.0M-197%

FAQ

When did Las Vegas Sands report Q1 2025 earnings?
Las Vegas Sands (LVS) reported Q1 2025 earnings on April 23, 2025 after market close.
What were Las Vegas Sands's Q1 2025 revenue and EPS?
Las Vegas Sands reported revenue of $2.9B and eps of $0.59 for Q1 2025.
Did Las Vegas Sands beat estimates in Q1 2025?
Revenue missed the consensus estimate of $2.9B by $20.6M. EPS beat the consensus estimate of $0.57 by $0.02.
Where can I find Las Vegas Sands's Q1 2025 SEC filings?
You can read the 8-K earnings release (0001300514-25-000089) and the 10-Q periodic report (0001300514-25-000095) directly on SEC EDGAR. The filing index links above go to sec.gov.