Why Las Vegas Sands Stock Jumped Nearly 4% After-Hours

• Las Vegas Sands beat Q3 revenue and profit expectations on strength in its Singapore business.
• Marina Bay Sands’ adjusted property EBITDA increased by 83%.
• The company also raised its buyback authorization to $2 billion and its annual dividend by 20%.

Las Vegas Sands Corp.’s stock gained nearly 4% in after-hours trading on Wednesday, boosting retail sentiment for the ticker on Stocktwits, following the luxury resorts and casinos operator's quarterly results that surpassed expectations. 

The operator of the iconic Marina Bay Sands in Singapore also raised its dividend for the next year by 20%, and topped up the company’s share buyback authorization to $2 billion from $700 million remaining as part of a previous plan.

Las Vegas Sands’ net revenue rose 24% to $3.33 billion in the third quarter, surpassing analyst expectations of $3.05 billion. Adjusted EPS came in at $0.78, up from $0.44 a year ago and higher than the Wall Street target of $0.62.

Marina Bay Sands was the standout performer, registering an 83% increase in adjusted property EBITDA to $743 million. The company has invested roughly $1.8 billion in upgrading the property since 2022, with portions of the renovation still underway.

Macao adjusted property EBITDA rose to $601 million from $585 million last year.

"We remain enthusiastic about our growth opportunities in both Macao and Singapore as we realize the benefits of our recently completed capital investment programs," Chairman and CEO Robert Goldstein said in a statement.

Meanwhile, the new dividend is $1.20 a year, and represents an annual yield of about 2.6%, based on Wednesday’s closing price of $50.62.

On Stocktwits, the retail sentiment of LVS jumped a few notches higher in the ‘bullish’ zone as of early Thursday, with some users unimpressed with the after-market gains given the many positive markets in the company’s quarterly report.

“LVS just released a delightful Q (quarter)... WYNN is likely to have strong Macau numbers too,” said one user, referring to rival Wynn Resorts' quarterly results scheduled for Nov. 6.

As of last close, LVS shares are down 1.4% year-to-date.

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