Why Is Las Vegas Sands (LVS) Stock Up 6% Today?


  • Las Vegas Sands (LVS) stock is rising alongside its latest earnings report.
  • The company beat out EPS and revenue estimates.
  • This comes as travel picks up with visitors returning to its locations.
LVS Stock - Why Is Las Vegas Sands (LVS) Stock Up 6% Today?

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Las Vegas Sands (NYSE:LVS) stock is rising higher on Thursday as investors have high hopes for the casino company following its latest earnings report.

The big news here is Las Vegas Sands reporting adjusted earnings per share of 29 cents alongside revenue of $2.12 billion. Both of those are better than Wall Street’s estimates of 20 cents per share and revenue of $1.83 billion.

Investors will also keep in mind that Las Vegas Sands’ earnings per share and revenue increased year-over-year (YOY). Q1 2022 EPS came in at -41 cents while the company’s revenue for the quarter was $943 million.

What’s Behind the Strong Earnings Report?

Robert Goldstein, chairman and CEO of Las Vegas Sands, provides the following insight into the company’s earnings:

“While travel restrictions and reduced visitation continued to impact our financial performance during the quarter, a robust recovery in travel and tourism spending across our markets is now underway. In Macao, we were pleased to see the ongoing recovery now underway in all gaming and non-gaming segments accelerate during the quarter.”

Investors are reacting well to today’s news with heavy trading of LVS stock. As of this writing, more than 6.3 million shares of the company’s stock have changed hands. That’s already above the company’s daily average trading volume of about 4.7 million shares.

LVS stock is up 6.2% as of Thursday morning and is up 27.7% since the start of the year.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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