Filing Flows › Las Vegas Sands (LVS) › Q3 2026 › vs Q2 2026
Las Vegas Sands (LVS) Q3 2026 vs Q2 2026 (quarter over quarter)
Las Vegas Sands's revenue rose $62.0M (+2%) from $3.2B in Q2 2026 to $3.2B in Q3 2026. The biggest changes: Casino +$29.0M (+1%); Rooms +$17.0M (+5%); Food and Beverage +$8.0M (+5%). Operating margin 19.2% against 19.6% (-0.4 pts).
Las Vegas Sands, Q3 2026: revenue $3.2B (-4% year over year), operating margin 19.2%, net earnings $304M, operating cash flow $870M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 19.2% | 19.6% | -0.4 pts |
| Net margin | 9.5% | 11.0% | -1.5 pts |
| Free cash flow margin | 18.3% | 11.1% | +7.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Casino | $2.4B | $2.3B | $29.0M | +1% |
| Rooms | $376M | $359M | $17.0M | +5% |
| Mall | $202M | $198M | $4.0M | +2% |
| Food and Beverage | $176M | $168M | $8.0M | +5% |
| Convention, Retail and Other | $92.0M | $88.0M | $4.0M | +5% |
| Revenue | $3.2B | $3.2B | $62.0M | +2% |
| Operating profit | $618M | $618M | $0 | 0% |
| Costs & expenses | $2.6B | $2.5B | $62.0M | +2% |
| Pre-tax earnings | $454M | $461M | −$7.0M | -2% |
| Other expense, net | $164M | $157M | $7.0M | +4% |
| Research & development | $37.0M | $43.0M | −$6.0M | -14% |
| SG&A | $333M | $331M | $2.0M | +0.6% |
| Other operating costs | $2.2B | $2.2B | $66.0M | +3% |
| Net earnings | $304M | $346M | −$42.0M | -12% |
| Minority interests | $48.0M | $27.0M | $21.0M | +78% |
| Income tax | $102M | $88.0M | $14.0M | +16% |
| Depreciation & amortization | $340M | $350M | −$10.0M | -3% |
| Share-based compensation | $14.0M | $13.0M | $1.0M | +8% |
| Working capital & other | $212M | −$27.0M | $239M | — |
| Operating cash flow | $870M | $682M | $188M | +28% |
| Free cash flow (OCF − capex) | $589M | $350M | $239M | +68% |
| Capital expenditures | $281M | $332M | −$51.0M | -15% |
Questions
How much did Las Vegas Sands's revenue grow quarter over quarter in Q3 2026?
Las Vegas Sands's revenue rose $62.0M (+2%) from $3.2B in Q2 2026 to $3.2B in Q3 2026.
What drove Las Vegas Sands's revenue change in Q3 2026?
Casino +$29.0M (+1%); Rooms +$17.0M (+5%); Food and Beverage +$8.0M (+5%).