Las Vegas Sands Earnings: Double-Digit Revenue Growth Drives Stock Higher

Las Vegas Sands Corp. (NYSE:LVS) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.92%.

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Las Vegas Sands Corp. Earnings Cheat Sheet

Results: Net income decreased -0.11% to $434.8 million (54 cents per diluted share) in the quarter versus a net gain of $435.28 million in the year-earlier quarter.

Revenue: Rose 21.05% to $3.08 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Las Vegas Sands Corp. reported adjusted net income of 54 cents per share. By that measure, the company missed the mean analyst estimate of $0.59. It beat the average revenue estimate of $3.01 billion.

Quoting Management: Mr. Sheldon G. Adelson, Chairman and CEO, said, “I am pleased to report that our quarterly results reflect both strong revenue and cash flow growth and the steady execution of our global growth strategy.

“In Macao, we delivered record financial results, with outstanding growth and strong operating momentum reflected in every segment of our business. We welcomed a record eleven million visitors to our Cotai Strip Properties during the quarter, including five million in the month of December. We remain confident that our market-leading Cotai Strip properties; The Venetian Macao, Four Seasons Hotel Macao and Plaza Casino, and Sands Cotai Central, with their unrivaled hotel inventory of nearly 9,000 rooms and suites, including the world’s largest Sheraton, Conrad and Holiday Inn, and 28 million square feet of interconnected Integrated Resort capacity, will meaningfully enhance the appeal of Macao and the Cotai Strip to business and leisure travelers and provide an outstanding platform for growth in the years ahead.

Key Stats:

Revenue increased 13.67% from $2.71 billion in the previous quarter. Net income increased 24.31% from $349.78 million in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.67 to a profit $0.64. For the current year, the average estimate has moved down from a profit of $2.37 to a profit of $2.23 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)