Las Vegas Sands (LVS) Misses Q1 EPS by 11c, Revenues Miss, Suspends Dividend

Las Vegas Sands (NYSE: LVS) reported Q1 EPS of $0.00, $0.11 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $1.78 billion versus the consensus estimate of $2.1 billion.

"The impact of the Covid-19 pandemic on our business has been unprecedented, and I have never seen anything like it in my over seventy years in business," said Sheldon G. Adelson, chairman and chief executive officer. "Our greatest priority during this difficult time remains our deep commitment to supporting our team members and to helping those in need in each of our local communities of Macao, Singapore and Las Vegas.

Despite these circumstances, our balance sheet strength will enable us to emerge from this pandemic with all our promising future growth opportunities fully intact. We remain extremely optimistic about an eventual recovery of travel and tourism spending across our markets, as well as our future growth prospects. We are fortunate that our financial strength will allow us to continue to execute our previously announced capital expenditure programs in both Macao and Singapore, while continuing to pursue growth opportunities in new markets."

The company paid a quarterly dividend of $0.79 per common share on March 26, 2020. The company has suspended its quarterly dividend program due to the impact of the novel coronavirus pandemic.

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

You May Also Be Interested In

• Amphenol (APH) Tops Q1 EPS by 7c, offers guidance
• First Commonwealth Financial (FCF) Raises Quarterly Dividend 4% to $0.13; 3.9% Yield
• Energy Transfer (ET) Raises Quarterly Dividend 0.8% to $0.3175; 8% Yield