LVSC(US:LVS) Invezzยท2024-04-17 20:30Financial Performance - Las Vegas Sands Corp. reported a net revenue of $2.96 billion and a net income of $583 million for Q1 2024, exceeding market expectations [1] - Sands China Ltd., a subsidiary, saw total net revenues surge by 42% to $1.80 billion, with net income reaching $297 million, a significant turnaround from a net loss of $10 million in Q1 2023 [6] Segment Performance - In Macao, the company achieved an Adjusted Property EBITDA of $610 million, although it faced a $31 million reduction due to a low hold on rolling play [2] - Conversely, Marina Bay Sands in Singapore reported an Adjusted Property EBITDA of $597 million, benefiting from a high hold on rolling play, leading to a $77 million increase [2] Strategic Initiatives - The company is committed to strategic investments to enhance its market position and deliver sustainable growth, with ongoing capital expenditure programs in Macao and Singapore [3][4] - Las Vegas Sands' financial strength and industry-leading cash flow allow it to pursue growth initiatives while returning excess capital to shareholders [4] Shareholder Returns - During Q1 2024, the company repurchased $450 million of its common stock and paid a quarterly dividend of $0.20 per common share, reaffirming its commitment to enhancing shareholder value [5][7] - The company remains optimistic about growth prospects in Macao, Singapore, and other potential markets, positioning itself to capitalize on emerging opportunities [7]