Las Vegas Sands (LVS) just released its first-quarter 2017 financial results, posting earnings of 66 cents per share and revenues of $3.11 billion. Currently, LVS is a Zacks Rank #3 (Hold) and is down 0.94% to $58.70 per share in trading shortly after its earnings report was released.
Las Vegas Sands:
Beat earnings estimates. The company posted earnings of $0.66 per share (excluding 6 cents from non-recurring items), beating the Zacks Consensus Estimate of $0.62.
Missed revenue estimates. The company saw revenue figures of $3.106 billion, narrowly missing our consensus estimate of $3.116 billion.
Adjusted property EBITDA at the company’s Macao facilities increased 20.5% to $624 million. Meanwhile, adjusted property EBITDA at its Las Vegas properties increased 40.2% to $122 million, marking the best quarterly result for the segment since 2008.
Consolidated adjusted property EBITDA increased nearly 25% to $1.15 billion, which CEO Sheldon Adelson credit to his company’s Integrated Resort business model. Adelson also touched on the recovery of the Macau region.
“In Macao, the market overall continues to recover and has exhibited growth in each of the last three quarters, while the compelling attractions and entertainment offerings of our industry-leading Cotai Strip property portfolio, recently expanded by the addition of The Parisian Macao, allowed us to deliver visitation growth of 30% across our property portfolio…,” Adelson noted.
Here’s a graph that looks at Las Vegas Sands’ latest 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.
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