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Las Vegas Sands (LVS) Posts Big Earnings Beat Thanks to Continued Macau Recovery
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Las Vegas Sands Corp. (LVS - Free Report) just released its fourth quarter fiscal 2017 earnings results, posting earnings of 88 cents per share and revenue of $3.44 billion. Currently, LVS is a Zacks Rank #2 (Buy), and is up almost 2% to $79.00 per share in trading shortly after its earnings report was released.
The casino giant:
Beat earnings estimates. LVS posted adjusted earnings of 88 cents per share, surpassing the Zacks Consensus Estimate of 77 cents per share. Net income increased 124.1% to $1.36 billion.
Beat revenue estimates. The company saw revenue figures of $3.44 billion, topping our consensus estimate of $3.21 billion and increasing 11.7% year-over-year.
LVS said that in Macau, adjusted property EBITDA grew 19.8% to $731 million, while at Marine Bay Sands in Singapore, adjusted property EBITDA increased 24.6% to $456 million. At its Las Vegas operating properties, this metric grew just 2.7% to $114 million.
Total revenues for Sands China increased 12.9% to $2.10 billion on a GAAP basis during the quarter.
"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.
Adelson also commented on the overall Macau market, noting that it “continued its robust recovery during the quarter, with growth in the important Mass gaming market accelerating in the fourth quarter of 2017.”
Las Vegas Sands Corp. Price, Consensus and EPS Surprise
Las Vegas Sands 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.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Las Vegas Sands (LVS) Posts Big Earnings Beat Thanks to Continued Macau Recovery
Las Vegas Sands Corp. (LVS - Free Report) just released its fourth quarter fiscal 2017 earnings results, posting earnings of 88 cents per share and revenue of $3.44 billion. Currently, LVS is a Zacks Rank #2 (Buy), and is up almost 2% to $79.00 per share in trading shortly after its earnings report was released.
The casino giant:
Beat earnings estimates. LVS posted adjusted earnings of 88 cents per share, surpassing the Zacks Consensus Estimate of 77 cents per share. Net income increased 124.1% to $1.36 billion.
Beat revenue estimates. The company saw revenue figures of $3.44 billion, topping our consensus estimate of $3.21 billion and increasing 11.7% year-over-year.
LVS said that in Macau, adjusted property EBITDA grew 19.8% to $731 million, while at Marine Bay Sands in Singapore, adjusted property EBITDA increased 24.6% to $456 million. At its Las Vegas operating properties, this metric grew just 2.7% to $114 million.
Total revenues for Sands China increased 12.9% to $2.10 billion on a GAAP basis during the quarter.
"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.
Adelson also commented on the overall Macau market, noting that it “continued its robust recovery during the quarter, with growth in the important Mass gaming market accelerating in the fourth quarter of 2017.”
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 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.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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