Las Vegas Sands Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Las Vegas Sands Corp. (LVS) has filed its Q1 2024 10-Q report, detailing financial performance and operational data.</b>

AI Summary

LAS VEGAS SANDS CORP (LVS) filed a Quarterly Report (10-Q) with the SEC on April 19, 2024. Filing is a 10-Q for Las Vegas Sands Corp. (LVS) for the period ending March 31, 2024. The company's fiscal year ends on December 31. Business and mailing address are both 5420 S. Durango Drive, Las Vegas, NV 89113. Business phone number is 702-923-9000. The filing includes data related to Casino, Occupancy, Food & Beverage, Mall, and other product/service segments.

Why It Matters

For investors and stakeholders tracking LAS VEGAS SANDS CORP, this filing contains several important signals. This filing provides the latest quarterly financial snapshot for LVS, crucial for investors to assess performance trends and make informed decisions. The data within the 10-Q will be used to evaluate the company's revenue streams, operational efficiency, and overall financial health in the current quarter.

Risk Assessment

Risk Level: low — LAS VEGAS SANDS CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any immediate or significant new risks beyond those typically associated with the gaming and hospitality industry.

Analyst Insight

Monitor the detailed segment revenues and growth rates in the full 10-Q to understand performance drivers for LVS.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed Period of Report)
• 2024-04-19 — Filing Date (Filed as of Date)
• 2024-01-01 — Quarter Start Date (Reporting period)
• 2023-03-31 — Prior Year Quarter End (Comparison period)

Key Players & Entities

• LAS VEGAS SANDS CORP (company) — Filer name
• LVS (company) — Ticker symbol
• 702-923-9000 (dollar_amount) — Business phone number
• NV (company) — State of incorporation

FAQ

Industry Context

Las Vegas Sands Corp. operates in the global integrated resort industry, focusing on casino, hospitality, and entertainment.

Regulatory Implications

The company operates under various gaming and hospitality regulations in the jurisdictions where it has properties.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Analyze segment-specific revenue and profitability for Q1 2024 compared to Q1 2023.
3. Assess any new disclosures or risk factors mentioned in the report.

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing, providing updated financial information compared to previous filings.

Key Financial Figures

• $0.001 — ange on which registered Common Stock ($0.001 par value) LVS New York Stock Exchange

Filing Documents

• lvs-20240331.htm (10-Q) — 1507KB
• lvs-ex311x03312024.htm (EX-31.1) — 9KB
• lvs-ex312x03312024.htm (EX-31.2) — 10KB
• lvs-ex321x03312024.htm (EX-32.1) — 5KB
• lvs-ex322x03312024.htm (EX-32.2) — 5KB
• lvs-20240331_g1.jpg (GRAPHIC) — 24KB
• 0001300514-24-000070.txt (&nbsp;) — 6680KB
• lvs-20240331.xsd (EX-101.SCH) — 43KB
• lvs-20240331_cal.xml (EX-101.CAL) — 67KB
• lvs-20240331_def.xml (EX-101.DEF) — 229KB
• lvs-20240331_lab.xml (EX-101.LAB) — 475KB
• lvs-20240331_pre.xml (EX-101.PRE) — 339KB
• lvs-20240331_htm.xml (XML) — 1036KB

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets at Marc h 3 1 , 202 4 and December 31, 20 23 3 Condensed Consolidated Statements of Operations for the Three Months Ended March 3 1 , 202 4 and 2023 4 Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended Marc h 3 1 , 202 4 and 2023 5 Condensed Consolidated Statements of Equity for the Three Months Ended March 3 1 , 202 4 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Three Months Ended Marc h 3 1 , 202 4 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 Note 1 — Organization and Business of Company 8 Note 2 — Accounts Receivable, Net and Customer Contract Related Liabilities 9 Note 3 — Long-Term Debt 11 Note 4 — Derivative Instruments 13 Note 5 — Equity and Earnings Per Share 13 Note 6 — Income Taxes 14 Note 7 — Leases 15 Note 8 — Fair Value Disclosure s 16 Note 9 — Commitments and Contingencies 18 Note 10 — Segment Information 21 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 41 Item 4.

Controls and Procedures

Controls and Procedures 41 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 42 Item 1A.

Risk Factors

Risk Factors 42 Item 2 . Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 5. Other Information 42 Item 6. Exhibits 43

Signatures

Signatures 44 2 Table of Contents

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

— FINANCIAL STATEMENTS

ITEM 1 — FINANCIAL STATEMENTS LAS VEGAS SANDS CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 (In millions, except par value) (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 4,956 $ 5,105 Accounts receivable, net of provision for credit losses of $ 206 and $ 201 420 484 Inventories 39 38 Prepaid expenses and other 141 150 Total current assets 5,556 5,777 Loan receivable 1,211 1,194 Property and equipment, net 11,266 11,439 Restricted cash 124 124 Deferred income taxes, net 121 121 Leasehold interests in land, net 2,120 2,249 Goodwill and intangible assets, net 584 598 Other assets, net 263 276 Total assets $ 21,245 $ 21,778 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 156 $ 167 Construction payables 151 146 Other accrued liabilities 1,661 1,948 Income taxes payable 256 261 Current maturities of long-term debt 2,043 1,900 Total current liabilities 4,267 4,422 Other long-term liabilities 864 936 Deferred income taxes 175 187 Long-term debt 11,914 12,129 Total liabilities 17,220 17,674 Commitments and contingencies (Note 9) Equity: Preferred stock, $ 0.001 par value, 50 shares authorized, zero shares issued and outstanding — — Common stock, $ 0.001 par value, 1,000 shares authorized, 834 and 833 shares issued, 745 and 753 shares outstanding 1 1 Treasury stock, at cost, 89 and 80 shares ( 5,446 ) ( 4,991 ) Capital in excess of par value 6,493 6,481 Accumulated other comprehensive income (loss) ( 38 ) 27 Retained earnings 2,943 2,600 Total Las Vegas Sands Corp. stockholders' equity 3,953 4,118 Noncontrolling interests 72 ( 14 ) Total equity 4,025 4,104 Total liabilities and equity $ 21,245 $ 21,778 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents LAS VEGAS SANDS CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended March 31, 20

View Full Filing

View this 10-Q filing on SEC EDGAR