Subtext

Las Vegas Sands Corp. LVS

SectorConsumer Discretionary
Transcripts24
Date range2019-04-17 – 2025-01-29
Calls charted24

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-14-7+0+7+142019 Q12019 Q42020 Q32021 Q22022 Q12022 Q42023 Q32024 Q22019 Q1 · Overall: +12.32019 Q2 · Overall: +3.12019 Q3 · Overall: +9.32019 Q4 · Overall: +6.62020 Q1 · Overall: +4.32020 Q2 · Overall: +4.02020 Q3 · Overall: +7.32020 Q4 · Overall: +7.32021 Q1 · Overall: +1.42021 Q2 · Overall: +9.82021 Q3 · Overall: +8.52021 Q4 · Overall: +8.82022 Q1 · Overall: +2.52022 Q2 · Overall: +7.42022 Q3 · Overall: +8.22022 Q4 · Overall: +12.32023 Q1 · Overall: +11.92023 Q2 · Overall: +10.52023 Q3 · Overall: +9.72023 Q4 · Overall: +4.82024 Q1 · Overall: +5.22024 Q2 · Overall: +8.02024 Q3 · Overall: +8.82024 Q4 · Overall: +10.4
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-37-19+0+19+372019 Q12019 Q42020 Q32021 Q22022 Q12022 Q42023 Q32024 Q22019 Q3 · CEO: +24.92019 Q4 · CEO: +13.92020 Q1 · CEO: +21.72020 Q2 · CEO: +18.92020 Q3 · CEO: +32.52020 Q4 · CEO: +9.92021 Q1 · CEO: +4.92021 Q2 · CEO: +6.02021 Q3 · CEO: +8.82021 Q4 · CEO: +13.92022 Q1 · CEO: +22.62022 Q2 · CEO: +9.32022 Q3 · CEO: +12.22022 Q4 · CEO: +14.12023 Q1 · CEO: +17.32023 Q2 · CEO: +11.32023 Q3 · CEO: +10.12023 Q4 · CEO: +3.22024 Q1 · CEO: +8.82024 Q3 · CEO: +8.72024 Q4 · CEO: +12.32019 Q1 · CFO: +13.42019 Q2 · CFO: +3.32019 Q3 · CFO: +10.22019 Q4 · CFO: +0.02020 Q1 · CFO: +14.22020 Q2 · CFO: +19.62020 Q3 · CFO: +12.3
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-36-18+0+18+362019 Q12019 Q42020 Q32021 Q22022 Q12022 Q42023 Q32024 Q22019 Q1 · Prepared remarks: +13.52019 Q2 · Prepared remarks: +18.52019 Q3 · Prepared remarks: +16.92019 Q4 · Prepared remarks: +23.82020 Q1 · Prepared remarks: +31.02020 Q2 · Prepared remarks: +23.42020 Q3 · Prepared remarks: +25.82020 Q4 · Prepared remarks: +8.72021 Q1 · Prepared remarks: +14.22021 Q2 · Prepared remarks: +7.82021 Q3 · Prepared remarks: +22.92021 Q4 · Prepared remarks: +22.12022 Q1 · Prepared remarks: +13.52022 Q2 · Prepared remarks: +17.72022 Q3 · Prepared remarks: +17.62022 Q4 · Prepared remarks: +25.72023 Q1 · Prepared remarks: +15.52023 Q2 · Prepared remarks: +3.22023 Q3 · Prepared remarks: +8.42023 Q4 · Prepared remarks: +8.52024 Q1 · Prepared remarks: +10.52024 Q2 · Prepared remarks: +10.22024 Q3 · Prepared remarks: +9.22024 Q4 · Prepared remarks: +18.62019 Q1 · Q&A responses: +14.92019 Q2 · Q&A responses: +1.92019 Q3 · Q&A responses: +11.52019 Q4 · Q&A responses: +5.12020 Q1 · Q&A responses: +4.02020 Q2 · Q&A responses: +3.92020 Q3 · Q&A responses: +6.62020 Q4 · Q&A responses: +8.12021 Q1 · Q&A responses: +1.42021 Q2 · Q&A responses: +13.32021 Q3 · Q&A responses: +11.32021 Q4 · Q&A responses: +10.22022 Q1 · Q&A responses: +2.42022 Q2 · Q&A responses: +8.12022 Q3 · Q&A responses: +10.72022 Q4 · Q&A responses: +13.02023 Q1 · Q&A responses: +14.12023 Q2 · Q&A responses: +13.92023 Q3 · Q&A responses: +11.92023 Q4 · Q&A responses: +6.72024 Q1 · Q&A responses: +6.52024 Q2 · Q&A responses: +13.12024 Q3 · Q&A responses: +10.92024 Q4 · Q&A responses: +13.2
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$0.40$2.02$3.632019 Q12019 Q42020 Q32021 Q22022 Q12022 Q42023 Q32024 Q22019 Q1: $3.312019 Q2: $3.412019 Q3: $3.312019 Q4: $3.332020 Q1: $3.022020 Q2: $1.232020 Q3: $1.152020 Q4: $1.502021 Q1: $1.112021 Q2: $1.272021 Q3: $1.202021 Q4: $0.962022 Q1: $0.872022 Q2: $0.622022 Q3: $0.792022 Q4: $1.092023 Q1: $1.732023 Q2: $2.502023 Q3: $2.702023 Q4: $2.812024 Q1: $2.792024 Q2: $2.882024 Q3: $2.712024 Q4: $2.76

Forward P/E

8.7435.8062.862019 Q12019 Q42020 Q32021 Q22022 Q12022 Q42023 Q32024 Q22019 Q1: 17.942019 Q2: 17.302019 Q3: 17.652019 Q4: 20.712020 Q1: 12.472020 Q2: 39.762020 Q3: 43.192020 Q4: 38.432021 Q1: 59.132021 Q2: 42.812021 Q3: 31.712021 Q4: 37.512022 Q1: 41.882022 Q2: 52.652022 Q3: 48.602022 Q4: 44.722023 Q1: 30.702023 Q2: 23.882023 Q3: 18.082023 Q4: 17.312024 Q1: 19.142024 Q2: 15.382024 Q3: 15.022024 Q4: 18.49

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2019 Q2 tone ↓ -9.2 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q3 tone ↑ +6.3 fwd EPS ↓ -0.10 Tone rose while the forward EPS estimate was cut.
  • 2020 Q3 tone ↑ +3.3 fwd EPS ↓ -0.08 Tone rose while the forward EPS estimate was cut.
  • 2022 Q2 tone ↑ +4.9 fwd EPS ↓ -0.25 Tone rose while the forward EPS estimate was cut.
  • 2023 Q4 tone ↓ -4.9 fwd EPS ↑ +0.11 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2024 Q42025-01-29+10.4$2.7618.5View →
2024 Q32024-10-23+8.8$2.7115.0View →
2024 Q22024-07-24+8.0$2.8815.4View →
2024 Q12024-04-17+5.2$2.7919.1View →
2023 Q42024-01-24+4.8$2.8117.3View →
2023 Q32023-10-18+9.7$2.7018.1View →
2023 Q22023-07-19+10.5$2.5023.9View →
2023 Q12023-04-19+11.9$1.7330.7View →