Las Vegas Sands: Q1 2026 Results - Trouble Ahead
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Michael Ting10 FollowersFollow5ShareSavePlay(9min)CommentsFollow us on Google for the latest stock newsFollow Seeking Alpha on Google for the latest stock newsSummaryLas Vegas Sands stock dropped 9% post-earnings due to margin weakness in Macau from an intensely competitive market to attract players.Competition and margin pressure are likely to continue due to increased gaming capacity in Macau coupled with slower industry gaming growth rates in 2H26.Maintain a SELL rating with 24% downside. Hanna Yohanna/iStock Editorial via Getty Images Summary Las Vegas Sands (LVS) reported 1Q26 results, which caused the share price to fall 9%. The market focused on falling margins in Macau due to excessive market competition. I expect promotional spending by LVSThis article was written byMichael Ting10 FollowersFollowI am a specialist in Asian equities after having been a sellside analyst for 13 years. I have covered the casino, automotive, industrial, consumer and technology sectors in Asia. I have also worked on the buyside as a fund manager in long only and as an analyst in hedge funds all covering Asian equities. My work experience has been in Hong Kong where I have developed a keen understanding of Asian companies and economies with a focus on China. My work involves a deep dive into Asian ADRs as despite risks, many opportunities remain to find companies with good business fundamentals. Just as important, I am also skilled at uncovering companies who may lack proper investment merit by examining key metrics such as inconsistencies in financial statements, assessing balance sheet strength, and conducting proper analysis of the competitive advantages of the company. Throughout my career, I have found and written on undiscovered small cap companies which have increased in equity value by multiple times. I would like to write for Seeking Alpha to help investors with their investment decisions on Asian equities. There have been many scams in Chinese small cap companies for share price manipulation and my goal is to help investors cut through the noise and to focus on fundamentals and the company’s competitive outlook instead of the momentum trade.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.