Wyndham Hotels & Resorts, Inc. (WH) Tops Q3 EPS by 2c, Revenues Miss

Wyndham Hotels & Resorts, Inc. (NYSE: WH) reported Q3 EPS of $0.36, $0.02 better than the analyst estimate of $0.34. Revenue for the quarter came in at $337 million versus the consensus estimate of $366.63 million.

• Diluted earnings per share was $0.29, and adjusted diluted earnings per share was $0.36.
• Net income was $27 million for the third quarter and adjusted net income was $34 million.
• Adjusted EBITDA was $101 million.
• Generated $97 million of net cash provided by operating activities and $92 million of free cash flow.
• Global comparable RevPAR declined 35% year-over-year.
• System-wide rooms declined 2% year-over-year.
• Paid quarterly cash dividend of $0.08 per share.
• Issued $500 million aggregate principal amount of 4.375% senior unsecured notes in August 2020, due 2028, the net proceeds of which were used in full to repay then-outstanding revolver borrowings.

"In the face of continued industry uncertainty, our leisure-oriented, drive-to franchise business model generated $101 million of adjusted EBITDA and $92 million of free cash flow," said Geoffrey A. Ballotti, president and chief executive officer. "Over 99% of our domestic and over 97% of our global portfolio are open today. RevPAR improved sequentially across the globe, and in the U.S., our economy and midscale brands continued to gain market share. Third quarter room openings also improved sequentially both in the U.S. and internationally and we grew our pipeline by 3% to 185,000 rooms globally. Importantly, we executed 152 hotel agreements, including 23% more domestic conversion signings than the third quarter of 2019. As always, we remain dedicated to supporting our owners around the world during these very challenging times."

For earnings history and earnings-related data on Wyndham Hotels & Resorts, Inc. (WH) click here.

You May Also Be Interested In

• Synopsys upgraded at Piper Sandler on Intel foundry momentum, Apple opportunity
• Carnival Corp. (CCL) Tops Q2 EPS by 8c, Beats on Revenue; Offers Guidance
• SEI names Rob Wrzesniewski head of Stratos technology