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Las Vegas Sands
🇺🇸 NYSE:LVS
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•
Dec 31, 2019

Las Vegas Sands Q4 2019 Earnings Report

Las Vegas Sands reported solid financial results with increased revenue and adjusted property EBITDA in Q4 2019.

Key Takeaways

Las Vegas Sands Corp. reported a 1.0% increase in net revenue to $3.51 billion for the fourth quarter of 2019. Operating income increased 6.9% to $934 million, and net income rose to $783 million. The company's adjusted property EBITDA reached $1.39 billion, driven by growth in Singapore.

Consolidated net revenue reached $3.51 billion.

Net income was $783 million, with GAAP earnings per diluted share at $0.82 and adjusted earnings per diluted share at $0.88.

Consolidated adjusted property EBITDA was $1.39 billion; hold-normalized adjusted property EBITDA was $1.31 billion.

The company repurchased $300 million of common stock during the quarter.

Total Revenue
$3.51B
Previous year: $3.48B
+1.0%
EPS
$0.88
Previous year: $0.77
+14.3%
Adj. Property EBITDA
$1.39B
Macao Adj. EBITDA
$811M
Marina Bay Adj. EBITDA
$457M
Gross Profit
$1.25B
Previous year: $1.18B
+5.9%
Cash and Equivalents
$4.23B
Previous year: $4.65B
-9.0%
Free Cash Flow
$782M
Previous year: $975M
-19.8%
Total Assets
$23.2B
Previous year: $22.5B
+2.9%

Las Vegas Sands

Las Vegas Sands

Las Vegas Sands Revenue by Segment

Las Vegas Sands Revenue by Geographic Location

Forward Guidance

Las Vegas Sands is focused on future growth opportunities in Asia, with upcoming suite accommodations on the Cotai Strip and the expansion of Marina Bay Sands in Singapore. The company is also pursuing development opportunities in new markets, including Japan, and is committed to increasing capital returns to shareholders.

Positive Outlook

  • Introduction of approximately two million square feet of luxurious suite accommodations on the Cotai Strip.
  • Opening of the Grand Suites at Four Seasons Macao and The Londoner Tower Suites.
  • Debut of additional tourism and entertainment amenities of The Londoner Macao throughout 2020 and 2021.
  • Expansion of Marina Bay Sands in Singapore to increase suite capacity and introduce a state-of-the-art entertainment arena.
  • Aggressive pursuit of additional development opportunities in new markets, including in Japan.

Challenges Ahead

  • General economic conditions
  • Disruptions or reductions in travel
  • Natural or man-made disasters
  • Pandemics, epidemics, or outbreaks of infectious or contagious diseases such as the coronavirus originating in Wuhan, China
  • Government regulation and risks relating to gaming licenses and subconcession

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Las Vegas Sands