Las Vegas Sands – 3Q '23 Earnings - A Review Of 3Q Earnings By Deep Knowledge Investing
Portfolio Pulse from Gary Brode
Las Vegas Sands (NYSE:LVS) reported strong 3Q earnings, beating analyst estimates with a revenue of $2.8B, almost 3x last year's level. Adjusted property EBITDA of $1.12B was above last quarter's $973MM and significantly higher than last year's $191MM. The company's focus on the high-margin premium mass market has paid off, with property-level EBITDA margins of 40.1%. The company has also increased its stock buyback authorization to $2B and re-initiated the dividend at $.20/quarter. The strong results and increased capital return to shareholders are expected to be positively received by the market.
October 19, 2023 | 2:20 pm
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POSITIVE IMPACT
Las Vegas Sands reported strong 3Q earnings, beating estimates and showing a significant recovery from Covid-related weak results. The company's increased stock buyback authorization and re-initiated dividend are likely to be positively received by the market.
Las Vegas Sands reported strong 3Q earnings, beating analyst estimates and showing a significant recovery from previous weak results due to Covid. The company's focus on the high-margin premium mass market has paid off, with property-level EBITDA margins of 40.1%. The company has also increased its stock buyback authorization to $2B and re-initiated the dividend at $.20/quarter. These factors are likely to be positively received by the market, potentially leading to a short-term increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100