Las Vegas Sands Reports Better-Than-Expected Q1 Results

Las Vegas Sands Corp. LVS reported better-than-expected first-quarter financial results after the bell Wednesday. Here's a look at the highlights. 

The Details: The company reported quarterly adjusted earnings of 75 cents per share which beat the analyst consensus estimate of 62 cents and represented a 167.86% increase from the same period last year.

Quarterly sales clocked in at $2.96 billion which beat the analyst consensus estimate of $2.94 billion and is a 39.58% increase over sales of $2.12 billion from the same quarter last year.

Las Vegas Sands noted its strong results reflect growth in Singapore and Macao. The company reported its unrestricted cash balances as of March 31 were $4.96 billion, and it has $4.43 billion available for borrowing under its revolving credit facilities.

“We were pleased with our financial and operating results for the quarter, which reflect strong growth in both Macao and Singapore. We remain deeply enthusiastic about our opportunities to deliver industry-leading growth in both markets in the years ahead, as we execute our substantial capital investment programs in both Macao and Singapore,” said Robert G. Goldstein, CEO of Las Vegas Sands.

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LVS Price Action: According to Benzinga Pro, Las Vegas Sands shares are down 0.84% after-hours at $49.81 at the time of publication on Wednesday.

Photo: Courtesy of Las Vegas Sands Corp.