=Las Vegas Sands (LVS) reported 4Q earnings on Wed 27 Jan 2016 (a/h)

Las Vegas Sands misses by $0.02, misses on revs :

• Reports Q4 (Dec) earnings of $0.62 per share, $0.02 worse than the Capital IQ Consensus of $0.64; revenues fell 16.2% year/year to $2.86 bln vs the $2.91 bln Capital IQ Consensus. Consolidated adjusted property EBITDA of $1.05 billion decreased 21.9% in the fourth quarter of 2015, compared to the year-ago quarter. On a hold-normalized basis, adjusted property EBITDA decreased 16.0% to $1.07 billion in the fourth quarter of 2015.
  • Sands China EBITDA -19% to $581 mln, rev -22% to $1.66 bln.
  • Marina Bay Sands EBITDA $-35% to $338 mln, rev -16% to $704 mln
  • Vegas EBITDA +25% to $97 mln; rev +10% to $400 mln.