Choice Hotels (CHH) Misses Q2 EPS by 19c

Choice Hotels (NYSE: CHH) reported Q2 EPS of $0.13, $0.19 worse than the analyst estimate of $0.32. Revenue for the quarter came in at $151.7 million versus the consensus estimate of $169.69 million.

Outlook:

On March 17, 2020, the company announced that it withdrew its previously issued outlook for 2020. The ultimate and precise impact of COVID-19 on full year 2020 is still unknown at this time and will depend on the level of resurgence in COVID-19 cases, the duration and scope of mandated travel and other restrictions, the confidence level of consumers to travel and the pace and level of the broader macroeconomic recovery. As a result, the company is not providing formal guidance for 2020 at this time.

The company currently expects the impact of COVID-19 on business performance will be less significant for the quarter ended September 30, 2020 than the quarter ended June 30, 2020 based on the continued weekly trend of travel demand growth predominantly stemming from leisure transient guests driving to their destinations.

As the year progresses, the company will continue to evaluate the impact of COVID-19 across its business and will provide further updates in the next earnings report based on the best information then available.

For earnings history and earnings-related data on Choice Hotels (CHH) click here.

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