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Las Vegas Sands Corp. (LVS) just released its latest quarterly financial results, posting adjusted earnings of $1.04 per share and revenues of $3.58 billion.
Currently, LVS is a Zacks Rank #3 (Hold), but that could change based on today’s results. Shares of the company have gained about 4.5% over the past month but fell about 2.0% during regular trading hours today.
The stock is currently flat in after-hours trading shortly after its earnings report was released.
Las Vegas Sands:
Beat earnings estimates. The company posted adjusted earnings of $1.04 per share, beating the Zacks Consensus Estimate of $0.86. Investors should note that this consensus projection has trended upward over the duration of the quarter.
Beat revenue estimates. The company saw revenue figures of $3.58 billion, surpassing our consensus estimate of $3.36 billion. Total revenue was up 16.7%.
Net income increased 179.1% to $1.62 billion in the first quarter. Consolidated adjusted property EBITDA increased 30.7% to $1.50 billion. In Macao, adjusted property EBITDA surged 26% to $789 million.
“The power of our unique convention-based Integrated Resort business model was once again on display during the quarter, with record quarterly financial results achieved in Macao, Singapore and Las Vegas. We also continued to invest in growth initiatives in each of our markets while returning excess capital to shareholders,” said CEO Sheldon Adelson.
Here’s a graph that looks at Las Vegas Sands’ recent earnings performance:
Las Vegas Sands Corp. Price, Consensus and EPS Surprise
Las Vegas Sands Corp. Price, Consensus and EPS Surprise | Las Vegas Sands Corp. Quote
Las Vegas Sands Corp. is a hotel, gaming, and retail mall company headquartered in Las Vegas, Nevada. The company owns The Venetian Resort Hotel Casino, the Sands Expo and Convention Center, Venetian Interactive, an internet based venture, and Venetian Macao Limited, a developer of multiple casino hotel resort properties in The People's Republic of China's Special Administrative Region of Macao.
Check back later for our full analysis on LVS’ earnings report!
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