Las Vegas Sands (LVS) Tanks on Disappointing Q4 Earnings & Revenue
Las Vegas Sands Corp. LVS just released its fourth quarter fiscal 2016 earnings results, posting earnings of $0.62 per share and revenue of $3.075 billion.
LVS was down 4.68% to $54.00 in after-hours trading shortly after its earnings report was released.
Currently, LVS has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Company:
Missed earnings estimates. The company posted earnings of $0.62 cents per share, missing our Zacks Consensus Estimate of $0.65. Zacks estimates excluded $0.02 from non-recurring items.
Missed revenue estimates. The company saw revenue figures of $3.075 billion, missing our estimate of $3.145 billion.
Las Vegas Sands Corp.’s net revenue in the fourth quarter of 2016 increased by 7.4% to $3.08 billion and their net income increased 5.6% to $607 million. However, in accordance to GAAP, operating income decreased to $669 million from $702 million. This decrease was due to higher depreciation and amortization expenses along with asset impairment charges.
"Our focus remains on the consistent execution of our proven global growth strategy, which leverages the power of our unique convention-based Integrated Resort business model” stated, CEO and Chairman, Sheldon Adelson.
Here’s a graph that looks at Las Vegas Sands’ price, consensus and EPS surprise:
Las Vegas Sands Corp. Price, Consensus and EPS Surprise
Las Vegas Sands Corp. is a provider and developer of destination properties. Their properties include premium services and accommodation such as entertainment, convention, and celebrity chef restaurants. The company owns and operates 10 properties.
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Las Vegas Sands Corp. (LVS): Free Stock Analysis Report
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