Las Vegas Sands Posts $2.37B in Q3 Casino Revenue
LVS is trading near its 52-week low of $35.28 (6.4% above the low).
Summary
Las Vegas Sands reported $3.22B in third-quarter revenue, including $2.37B in casino revenue and $376M in room revenue. EPS came in at 48c, with adjusted EPS of 54c. The company raised its dividend to 36c. The results follow a Q2 that missed on both revenue and profit, when management offset the shortfall with a $6B buyback authorization and a maintained dividend. Q3 operating profit missed estimates as Marina Bay Sands revenue fell, so the read on whether the Q2 miss is reversing remains mixed, with the buyback still a reference point traders will use to judge this quarter.
At the time of this announcement, LVS was trading at $37.54 on NYSE in the Trade & Services sector, with a market capitalization of approximately $24.3B. The 52-week trading range was $35.28 to $70.45. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.