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LVSC(LVS) - 2024 Q2 - Quarterly Results
2024-07-24 20:08
EXHIBIT 99.1 PRESS RELEASE For Immediate Release Las Vegas Sands Reports Second Quarter 2024 Results For the quarter ended June 30, 2024 • Net Revenue of $2.76 billion and Net Income of $424 million • Consolidated Adjusted Property EBITDA of $1.07 billion • Macao Adjusted Property EBITDA of $561 million ◦ Low Hold on Rolling Play in Macao Negatively Impacted Adjusted Property EBITDA by $4 million • Marina Bay Sands Adjusted Property EBITDA of $512 million ◦ High Hold on Rolling Play at Marina Bay Sands Posi ...
Las Vegas Sands Reports Second Quarter 2024 Results
Prnewswire· 2024-07-24 20:05
For the quarter ended June 30, 2024Net Revenue of $2.76 billion and Net Income of $424 millionConsolidated Adjusted Property EBITDA of $1.07 billionMacao Adjusted Property EBITDA of $561 millionLow Hold on Rolling Play in Macao Negatively Impacted Adjusted Property EBITDA by $4 millionMarina Bay Sands Adjusted Property EBITDA of $512 millionHigh Hold on Rolling Play at Marina Bay Sands Positively Impacted Adjusted Property EBITDA by $64 millionLVS Repurchased $400 million of Common StockLAS VEGAS, July 24, ...
2024 Sands Shopping Carnival Draws Record-Breaking 120,000 Visits
Prnewswire· 2024-07-24 12:55
The Sands Shopping Carnival has welcomed over 540,000 visitors since its 2020 debut, becoming an annual signature event for Sands China. It offers residents and tourists an exciting weekend destination while supporting the Macao SAR government's 'tourism+' strategy, and provides a free business platform for local SMEs and Sands retailers to boost post-pandemic economic revival – creating synergy by featuring both local and international brands at one event.Now in its fifth year, the carnival offered visitor ...
Nevada Partnership for Homeless Youth and Las Vegas Sands Announce the 2024 Nevada Youth Homelessness Summit on Nov. 8
Prnewswire· 2024-07-23 17:00
Core Points - The 2024 Nevada Youth Homelessness Summit is scheduled for November 8, 2024, at Las Vegas City Hall, with registration opening on August 5 [1] - The summit aims to address the increasing youth homelessness crisis in Nevada, which has seen a 14% rise in youth experiencing homelessness from 2022 to 2023 [2] - A statewide plan to end youth homelessness is set to begin development in 2025, building on previous efforts and stakeholder collaboration [3] Group 1: Summit Details - The summit is supported by UNLV Greenspun College of Urban Affairs and Las Vegas Review-Journal, focusing on creating a standalone plan to end youth homelessness [1] - Registration fees are $100 until September 30 and $175 starting October 1, with more information on the agenda and speakers to be available upon registration opening [4] Group 2: Stakeholder Involvement - The summit will include diverse stakeholders such as young people with lived experience, social service providers, educators, and policymakers to foster comprehensive solutions [4] - The event aims to unite efforts across Nevada to drive systemic change and create a safer future for vulnerable youth [2][4] Group 3: Context and Challenges - Nevada faces the most extreme shortage of affordable housing in the U.S., with only 14 affordable rentals available for every 100 extremely low-income rental households [2] - The groundwork for the statewide plan will culminate after the completion of the Youth Experiencing Homelessness Study in June 2025, which aims to provide accurate data on youth homelessness in Nevada [3]
Sands to Release Second Quarter 2024 Financial Results
Prnewswire· 2024-07-17 23:49
LAS VEGAS, July 17, 2024 /PRNewswire/ -- Las Vegas Sands (NYSE: LVS) will release its second quarter 2024 financial results on Wednesday, July 24, 2024, after market close.The company will host a conference call to discuss its results at approximately 1:30 p.m. Pacific Time.A webcast of the conference call will be available at www.investor.sands.com.About Sands (NYSE: LVS)Sands is the leading global developer and operator of integrated resorts.Our iconic properties drive valuable leisure and business touris ...
Here's Why Las Vegas Sands (LVS) is a Strong Value Stock
ZACKS· 2024-07-15 14:41
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.It also includes access to the Zacks Style Scores.W ...
Las Vegas Sands (LVS) to Post Q2 Earnings: What's in Store?
ZACKS· 2024-07-15 14:11
Las Vegas Sands Corp.’s (LVS) earnings and revenues are likely to increase, when the company reports second-quarter 2024 results.In the last reported quarter, earnings and revenues topped the Zacks Consensus Estimate by 21% and 0.6%, respectively. On a year-over-year basis, the metrics increased by 167.9% and 39.6%, respectively.How Are Estimates Placed?The Zacks Consensus Estimate for second-quarter earnings per share (EPS) is pegged at 60 cents, indicating a surge of 30.4% from 46 cents reported in the y ...
Las Vegas Sands (LVS) Earnings Expected to Grow: What to Know Ahead of Q2 Release
ZACKS· 2024-07-10 15:06
Las Vegas Sands (LVS) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the sto ...
Sands Releases its 2023 Environmental, Social and Governance Report
Prnewswire· 2024-07-09 17:00
Progress on the company's 2021-2025 ambitions in emissions reduction, workforce development and community service contributions highlight the reporting cycle's midpoint review.LAS VEGAS, July 9, 2024 /PRNewswire/ -- Las Vegas Sands (NYSE: LVS) has released its latest environmental, social and governance (ESG) report, outlining the company's 2023 progress on the corporate responsibility priorities established for its 2021-2025 reporting period. Sands is on track to meet or has surpassed the targets set for i ...
With The Stock Down 14% Year, Will Strong Singapore Business Drive LVS Stock Higher Post Q2?
Forbes· 2024-07-09 11:00
Company Performance - Las Vegas Sands is expected to report Q2 2024 revenues of approximately $2.85 billion, an 11% increase year-on-year, and earnings of about $0.60 per share, reflecting a 30% growth compared to last year, driven by a rebound in Macau and strong performance in Singapore [1] - The Macau business, which constituted over 60% of pre-pandemic revenue, is experiencing a strong recovery due to the relaxation of Covid-19 restrictions, with April 2023 tourist arrivals reaching 2,600,717, a 14.4% increase year-on-year, and 76% of arrivals compared to April 2019 [1] - The Marina Bay Sands property in Singapore remains the largest profit driver for the company, with Q1 2024 Adjusted Property EBITDA rising by about 52% to $597 million, indicating continued strength in tourist inflows and spending [1] Stock Performance - LVS stock has declined by 25% from $60 in early January 2021 to around $45 currently, while the S&P 500 has increased by about 45% during the same period, highlighting underperformance [2] - The stock's returns were -37% in 2021, 28% in 2022, and 2% in 2023, indicating inconsistent performance compared to the S&P 500, which had returns of 27% in 2021, -19% in 2022, and 24% in 2023 [2] Market Outlook - The financial performance of the company is expected to improve as demand in Macau continues to rise, with per-capita spending anticipated to grow, and Singapore's market remains stable and high-value [3] - The company is investing approximately $1.75 billion into its Singapore property to enhance high-value tourism [3] - As of March 2024, the company's liquidity position is reasonable with cash holdings around $5 billion, but it has a total debt of $13.9 billion, indicating high leverage [3] - The stock is valued at about $55 per share, which is approximately 31% above the current market price, with a reassessment planned post-Q2 earnings [3]