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Jun 30, 2024
Las Vegas Sands Q2 2024 Earnings Report
Las Vegas Sands reported growth in both Macao and Singapore compared to the second quarter of 2023.
Key Takeaways
Las Vegas Sands reported a net revenue of $2.76 billion and a net income of $424 million for the second quarter of 2024. The company's consolidated adjusted property EBITDA was $1.07 billion. They repurchased $400 million of common stock during the quarter.
Net revenue reached $2.76 billion, up from $2.54 billion in the prior year quarter.
Net income was $424 million, compared to $368 million in the second quarter of 2023.
Consolidated adjusted property EBITDA was $1.07 billion, compared to $973 million in the prior year quarter.
The company repurchased $400 million of its common stock during the quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The press release does not contain specific forward guidance. It expresses enthusiasm about delivering industry-leading growth in Macao and Singapore, executing capital investment programs, and pursuing growth opportunities in new markets.
Positive Outlook
- Ongoing recovery in Macao.
- Investments enhance business and leisure tourism appeal of Macao.
- Strong financial and operating performance of Marina Bay Sands.
- New suite product and elevated service offerings in Singapore.
- Financial strength and industry-leading cash flow.
Challenges Ahead
- Visitation to Macao remains well below pre-pandemic levels.
- Low hold on rolling play in Macao negatively impacted Adjusted Property EBITDA by $4 million.
- High hold on rolling play at Marina Bay Sands positively impacted Adjusted Property EBITDA by $64 million.
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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