Las Vegas Sands (LVS) Misses Q4 EPS by 3c

Las Vegas Sands (NYSE: LVS) reported Q4 EPS of $0.62, $0.03 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $2.86 billion versus the consensus estimate of $2.92 billion.

Sands China Ltd. Consolidated Financial Results

On a GAAP basis, total net revenues for Sands China Ltd. decreased 21.7% to $1.66 billion in the fourth quarter of 2015, compared to $2.12 billion in the fourth quarter of 2014. Adjusted property EBITDA for Sands China Ltd. decreased 18.5% to $581.2 million in the fourth quarter of 2015, compared to $713.2 million in the fourth quarter of 2014. Net income for Sands China Ltd. decreased 29.3% to $378.4 million in the fourth quarter of 2015, compared to $535.3 million in the fourth quarter of 2014.

On a GAAP basis, full year 2015 total net revenues for Sands China Ltd. decreased 28.3% to $6.86 billion, compared to $9.57 billion in 2014. Adjusted property EBITDA for Sands China Ltd. decreased 31.9% to $2.22 billion in 2015, compared to $3.26 billion in 2014. Net income for Sands China Ltd. decreased 43.1% to $1.45 billion in 2015, compared to $2.55 billion in 2014.

The Venetian Macao Fourth Quarter Operating Results

Despite the softer gaming market in Macao, The Venetian Macao continued to enjoy Macao market-leading visitation and financial performance. The property generated adjusted property EBITDA of $297.3 million in the fourth quarter with an EBITDA margin of 39.1%. Non-Rolling Chip drop was $1.74 billion for the quarter, with a Non-Rolling Chip win percentage of 23.4%. Rolling Chip volume during the quarter decreased 20.8% to $8.0 billion. Rolling Chip win percentage was 3.34% in the quarter, above the 2.61% experienced in the prior-year quarter. Slot handle was $1.01 billion

For earnings history and earnings-related data on Las Vegas Sands (LVS) click here.

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