What's Happening With Las Vegas Sands Stock In Wednesday's After-Hours Session

Las Vegas Sands Corp. LVS shares are trading marginally lower by 0.49% to $54.75 during Wednesday's after-hours session after the company reported worse-than-expected fourth-quarter adjusted EPS and sales results.

What Happened?

Las Vegas Sands reported quarterly losses of 19 cents per share which missed the analyst consensus estimate of a loss of 9 cents by 111.11 percent. The company also reported quarterly sales of $1.12 billion, which missed the analyst consensus estimate of $1.18 billion by 5%. This sales figure is, however, an 11% percent increase over sales of $1.01 billion in the same period last year.

Las Vegas Sands says the company's operating loss was $166 million, compared to $138 million in the prior year quarter. Meanwhile, the net loss from continuing operations in the fourth quarter of 2022 was $269 million, compared to $315 million in the fourth quarter of 2021.

Additionally, the full-year 2022 operating loss was $792 million, compared to $689 million in 2021.

See Also: Why Ensysce Biosciences Stock Is Exploding Higher During Wednesday's Session

"While travel restrictions and reduced visitation continued to impact our financial performance during the quarter, we remain confident in a robust recovery in travel and tourism spending across our markets and deeply enthusiastic about the opportunity to welcome more guests back to our properties throughout 2023 and in the years ahead," said Robert G. Goldstein, chairman and chief executive officer.

According to data from Benzinga Pro, LVS has a 52-week high of $55.90 and a 52-week low of $28.88.

Photo via Wikimedia Commons

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