Las Vegas Sands Shares Dip After-Market Amid Q2 Earnings Miss
At the market close on Wednesday the Las Vegas Sands (NYSE: LVS) reported a $0.04 EPS miss for its 2014 second quarter.
Shares of the company have fallen close to two percent on the earnings release.
- Net revenue up 11.8 percent to $3.62 billion
- Adjusted diluted EPS up 30.8 percent to $0.85 vs. $0.89 estimates
- Dividends increased 42.9 percent to $0.50
- Announced third quarter 2014 dividend of $0.50 to be paid September 30, 2014 to shareholders of record on September 22, 2014
- Consolidated adjusted property EBITDA up 18.6 percent to $1.31 billion
- Stock repurchases of $320.0 million
- Mass gaming drove a 21.9 percent increase in adjusted property EBITDA to $801.3 million
- Parisian Macao targeted to open late 2015
- Adjusted property EBITDA of $417.8 million
Sheldon G. Adelson, chairman and chief executive officer, said, "The prudent management of our cash flow, including the ability to increase the return of capital to shareholders while maintaining a strong balance sheet and ample liquidity to invest in future growth opportunities, remains a cornerstone of our strategy."
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