On July 23, SANDS CHINA LTD rose 3.03% in regular trading, trading at HKD 13.62/share, with turnover of HKD 109 million. The move came as the company released its second-quarter fiscal results.
According to a filing by parent Las Vegas Sands, Sands China reported Q2 net income of $107 million, down 50% from $214 million in the year-ago period. Total net revenue declined 0.8% year over year to $1.78 billion, while adjusted property EBITDA decreased to $430 million from $566 million. For the first half, adjusted property EBITDA totaled $1.063 billion versus $1.101 billion a year earlier. The Q2 results mark a sequential slowdown from Q1, which saw net income of $294 million (up 46% YoY) and adjusted property EBITDA of $633 million.
Notably, Citi had placed the stock on its 30-day downside catalyst watch list on July 10 with a target price of HKD 19, while Goldman Sachs maintained a Buy rating in early July. The intraday rebound suggests the weak results may have been largely anticipated by the market following the stock's extended decline from levels above HKD 18 earlier this year.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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