Las Vegas Sands (NYSE: LVS ) filed its 10-K on March 1. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Las Vegas Sands beat expectations on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share shrank. GAAP earnings per share increased significantly.
Gross margins increased, operating margins dropped, net margins dropped.
Revenue details
Las Vegas Sands logged revenue of $3.23 billion. The 22 analysts polled by S&P Capital IQ predicted revenue of $3.03 billion on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $2.54 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.54. The 23 earnings estimates compiled by S&P Capital IQ predicted $0.60 per share. Non-GAAP EPS of $0.54 for Q4 were 5.3% lower than the prior-year quarter's $0.57 per share. GAAP EPS of $0.53 for Q4 were 36% higher than the prior-year quarter's $0.39 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 159.1%, 610 basis points better than the prior-year quarter. Operating margin was 21.9%, 420 basis points worse than the prior-year quarter. Net margin was 14.1%, 300 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $3.24 billion. On the bottom line, the average EPS estimate is $0.66.
Next year's average estimate for revenue is $13.14 billion. The average EPS estimate is $2.73.
Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,816 members out of 2,125 rating the stock outperform, and 309 members rating it underperform. Among 480 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 427 give Las Vegas Sands a green thumbs-up, and 53 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Las Vegas Sands is outperform, with an average price target of $51.98.
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Report this Comment On March 07, 2013, at 5:36 PM, spokanimal wrote:
These "boilerplate" analyses are absolutely NAUSEATING...
... they are what you do here on Motley Fool when you don't know squat about the company but you want to write something fancy as though you do.
Why not mention that LVS's Marina Bay Sands resort increased their gaming volumes by almost 60% in Q4 on a YOY basis... but that it didn't flow to the bottom line because the resort experienced the lowest "table hold" in it's 3 year operating history.
Do you even know what "normalization" of earnings in the gaming industry IS, Seth?
And no mention that in February, Sands achieved it's 2nd highest gaming market share in Macau in almost 3 years...
... your reader's can't be expected to appreciate the good things that are happening NOW when you waste articles like this talking about the most meaningless metrics possible... from LAST year.
Spokanimal
Report this Comment On March 07, 2013, at 10:09 PM, BenKeel wrote:
Classic Motley "FOOL" reporting. Writing about a
36% increase in net revenue (record for the company) and a headline that reads "Las Vegas Sands Whiffs On Earnings".
Has anyone seen the videos of Motley's "analysts"?
They're like 23 -28 yrs old. I'm 50 and have been an advisor for 28 years.
These guys are a joke.
"LVS Whiffs On Earnings".....these guys are a joke!
Report this Comment On March 07, 2013, at 10:11 PM, BenKeel wrote:
Lmao.
Read any other Motley article on LVS and they're bullish like everyone else, yet the headline sounds like they're criticizing LVS for recored revenue.
I read Motley whe I'm on the toilet, no where else.
Report this Comment On March 07, 2013, at 11:46 PM, EyeHateFools wrote:
Old news. Fourth quarter earnings were released over a month ago, or did you not realize that?
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