Las Vegas Sands reports EPS in-line, beats on revs; announces dividend and increased buyback authorization (44.61 -0.71)
- Reports Q3 (Sep) earnings of $0.55 per share, excluding non-recurring items, in-line with the FactSet Consensus of $0.55; revenues rose 178.1% year/year to $2.8 bln vs the $2.72 bln FactSet Consensus.
- Consolidated adjusted property EBITDA was $1.12 billion, compared to $191 million in the prior year quarter.
- "We were pleased to see the recovery in travel and tourism spending in both Macao and Singapore progress during the quarter. We remain deeply enthusiastic about our opportunities for growth in both markets in the years ahead," said Robert G. Goldstein, chairman and chief executive officer.
- The company announced its next quarterly dividend of $0.20 per common share will be paid on November 15, 2023, to Las Vegas Sands stockholders of record on November 7, 2023. Additionally, on October 16, 2023, the company's Board of Directors authorized increasing the amount of its outstanding common stock authorized to be repurchased from $916 million to $2.0 billion and extending the expiration date of this authorization to November 3, 2025. The company intends to resume its share repurchase program in the fourth quarter of 2023.