Las Vegas Sands Corp. (LVS) Earnings 11c Per Share Above Expectations

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Las Vegas Sands Corp.’s (NYSE:LVS) business finished strong in fiscal 2017, as evidenced by the company’s latest earnings report.

Las Vegas Sands Corp. (LVS)During its fourth quarter of last year, the casino operator reported adjusted earnings of 88 cents per share, which was well ahead of the Zacks Investment Research’s projection of 77 cents per share. Net income gained 124.1% year-over-year to $1.36 billion.

On the revenue front, the company raked in $3.44 billion, ahead of the Wall Street consensus estimate of $3.21 billion, per Zacks. The figure also surged 11.7% year-over-year.

Las Vegas Sands’ strongest business venture is its Macau casino, where its adjusted property EBITDA gained 19.8% to $731 million. Its Marine Bay Sands in Singapore is another moneymaker, raking in an adjusted property EBITDA of $456 million, a 24.6% improvement.

At its Las Vegas operating properties, the figure was only 2.7% higher, reaching $114 million. The company’s total revenues for Sands China was 12.9% higher to $2.10 billion on a GAAP basis during the period.

“We are extremely pleased to have delivered another set of strong financial results this quarter. Consolidated adjusted property EBITDA reached $1.34 billion, an increase of 19.7% compared to the fourth quarter of 2016. We also continued to return excess capital to shareholders through dividends and share repurchases during the quarter,” said CEO Sheldon G. Adelson.

Las Vegas Sands’ headquarters are located in Paradise, Nevada. The company has more than 10 casino properties around across Las Vegas, Pennsylvania, China and Singapore.

LVS stock edged 0.4% higher after Wednesday’s market close.


Article printed from InvestorPlace Media, https://investorplace.com/2018/01/las-vegas-sands-corp-lvs-2/.

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