Park Hotels & Resorts (PK) Tops Q3 EPS by 17c, Beats on Revenues

Park Hotels & Resorts (NYSE: PK) reported Q3 EPS of $0.48, $0.17 better than the analyst estimate of $0.31. Revenue for the quarter came in at $688 million versus the consensus estimate of $674.85 million.

Third Quarter 2017 Highlights

• Comparable RevPAR was $166.66, a decrease of 0.1% on a Pro-forma basis from the same period in 2016; excluding impact from hurricanes, Comparable RevPAR remained flat from the same period in 2016;
• Net income was $105 million and net income attributable to stockholders was $103 million;
• Adjusted EBITDA was $183 million;
• Adjusted FFO attributable to stockholders was $141 million;
• Diluted earnings per share was $0.48;
• Diluted Adjusted FFO per share was $0.66;
• Comparable Hotel Adjusted EBITDA margin was 27.0%, a decrease of 120 bps on a Pro-forma basis from the same period in 2016; and
• Caribe Hilton was removed from comparable results following damage sustained from Hurricane Maria.

For earnings history and earnings-related data on Park Hotels & Resorts (PK) click here.

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Ennis (EBF) Reports In-Line Q1 EPS
• Accenture downgraded by TD Cowen on AI concerns