Las Vegas Sands Stock Dips After Worse-Than-Expected Q2 Results

Las Vegas Sands Corp. LVS reported its second-quarter financial results Wednesday. Here's a look at the details from the report. 

The Details: Las Vegas Sands reported quarterly earnings of 55 cents per share, which missed the analyst consensus estimate of 56 cents by 1.79%.

Quarterly sales of $2.76 billion also missed the analyst consensus estimate of $2.8 billion by 1.51% and is an 8.62% increase over sales of $2.54 billion from the same period last year.

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The company reported Consolidated Adjusted Property EBITDA of $1.07 billion with Macao Adjusted Property EBITDA coming in at $561 million. Las Vegas Sands said low hold on rolling play in Macao negatively impacted the Adjusted Property EBITDA by $4 million.

Marina Bay Sands Adjusted Property EBITDA was $512 million with high hold on rolling play postively impacting Adjusted Property EBITDA by $64 million.

“Our financial and operating results for the second quarter of 2024 reflect growth in both Macao and Singapore compared to the second quarter of 2023.  We remain 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.

LVS Price Action: According to Benzinga Pro, Las Vegas Sands shares are down 3.27% after-hours at $39 at the time of publication Wednesday.

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Image: Courtesy of Las Vegas Sands, Corp.