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Sands China profit misses consensus by 36.5% in Q1

Sands China Ltd. said its first-quarter normalized net income was 3 cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS declined year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $205.2 million, a decrease from $212.1 million in the year-earlier period.

The normalized profit margin increased to 12.7% from 12.1% in the year-earlier period.

Total revenue fell 7.8% year over year to $1.62 billion from $1.76 billion, and total operating expenses decreased 9.3% on an annual basis to $1.28 billion from $1.41 billion.

Reported net income decreased 9.3% from the prior-year period to $312.7 million, or 4 cents per share, from $344.6 million, or 4 cents per share.