Las Vegas Sands Corp. Earnings: Double-Digit Revenue Growth

Las Vegas Sands Corp. (NYSE:LVS) reported its results for the third quarter. Las Vegas Sands develops integrated resorts worldwide. It owns and operates The Venetian Resort Hotel Casino, The Palazzo Resort Hotel Casino, and an expo and convention center.

Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now

Las Vegas Sands Corp. Earnings Cheat Sheet

Results: Net income for the gaming fell to $349.8 million (42 cents per share) vs. $424.9 million (44 cents per share) a year earlier. This is a decline of 17.7% from the year-earlier quarter.

Revenue: Rose 12.1% to $772.8 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Las Vegas Sands Corp. fell short of the mean analyst estimate of 60 cents per share. It fell short of the average revenue estimate of $2.78 billion.

Quoting Management: Mr. Sheldon G. Adelson, chairman and chief executive officer, said, “Despite low hold on table games play at Marina Bay Sands in Singapore, our financial results reflect strong revenue growth and cash flow for the quarter. “In Macao, we delivered record financial results, with outstanding growth and strong operating momentum reflected in every segment of our business. We also made strong progress on the execution of our Cotai Strip development plan, as we successfully opened the second phase of Sands Cotai Central, the largest Integrated Resort development in the company’s history and a key component of our Cotai Strip master plan.”

Key Stats:

The company’s net income has fallen for two quarters in a row. In the second quarter, net income fell 41.4% from the year-earlier quarter.

The company has fallen short of estimates for two consecutive quarters. In the second quarter, it missed expectations by 15 cents with net income of 44 cents versus a mean estimate of net income of 59 cents per share.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the fourth quarter has moved up from 60 cents a share to 61 cents over the last thirty days. The average estimate for the fiscal year has seen a bump from $2.36 per share sixty days ago to $2.37.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

Don’t Miss These Additional Hot Stories:

Is Ford’s Stock a Buy After a Record Quarter?

Will Sirius’s Stock Still Be a Buy After the Buyout?

Is Facebook Harmful to Your Health and Wallet?