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Sands China Ltd. Message Board

  • bjspokanimal bjspokanimal Sep 26, 2013 5:26 PM Flag

    OT: Blitz, ACAS buyback data was released today

    Very big. They re-purchased 13.4 million shares vs 9.1 million during Q2.

    Clearly, they had some kind of a reason to accelerate it. That's almost 4.5% of total stock outstanding, re-purchased in just 1 quarter.

    It may be because of improved operating cash flow... but in all fairness, it could also be an application of their investment capital given their Q2 comments that the re-investment climate was "difficult".

    They've also greatly reduced their debt and are nearly debt free (from earlier reports) and they've re-financed much of what remains at very attractive, variable rates... essentially stealing a page from LVS's playbook in that regard.

    No real trading in aftermarkets... it'll be interesting to see where it opens tomorrow...

    ... I'm still hoping to buy some large traunches if the budget fight generates a beta-driven correction in ACAS before their earnings come out.


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