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Jun 30, 2020
Las Vegas Sands Q2 2020 Earnings Report
Las Vegas Sands experienced a significant revenue decrease due to the COVID-19 pandemic, resulting in an operating loss and net loss for the quarter.
Key Takeaways
Las Vegas Sands Corp. reported a challenging second quarter due to the COVID-19 pandemic, with net revenue decreasing by 97.1% to $98 million. The company faced an operating loss of $922 million and a net loss of $985 million. Despite these challenges, the company is optimistic about the eventual recovery of travel and tourism and is continuing with its capital expenditure programs in Macao and Singapore.
Net revenue decreased by 97.1% compared to the prior year quarter.
Operating loss was $922 million, a significant downturn from the previous year's operating income of $894 million.
Net loss amounted to $985 million, compared to a net income of $1.11 billion in the prior year quarter.
The company is continuing capital expenditure programs in both Macao and Singapore.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Las Vegas Sands is optimistic about an eventual recovery of travel and tourism spending across its markets and is continuing to pursue growth opportunities in new markets.
Positive Outlook
- Early stages of recovery underway in each market.
- Continued capital expenditure programs in Macao and Singapore.
- Strong balance sheet positions the company well to invest in future growth opportunities.
- Greatest priorities remain the safety and security of team members and guests.
- Support for local communities in Macao, Singapore and Las Vegas.
Challenges Ahead
- Uncertainty of the extent, duration, and effects of the COVID-19 pandemic.
- Government-mandated property closures or travel restrictions.
- General economic conditions.
- Disruptions or reductions in travel.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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