Choice Hotels (CHH) Misses Q3 EPS by 8c

Choice Hotels (NYSE: CHH) reported Q3 EPS of $0.66, $0.08 worse than the analyst estimate of $0.74. Revenue for the quarter came in at $210.8 million versus the consensus estimate of $207.72 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, duration and scope of mandated travel and other restrictions, 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 its year-over-year RevPAR change will be less significant for the quarter ended December 31, 2020 than the quarter ended September 30, 2020 based on the continued resilience of leisure demand and Choice's relative outperformance versus the industry.

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.

You May Also Be Interested In

• Korn Ferry (KFY) Tops Q4 EPS by 2c, Beats on Revenue; Offers Q1 Guidance
• Synopsys upgraded at Piper Sandler on Intel foundry momentum, Apple opportunity
• BofA lists top 5 themes driving next $1tn in incremental semi sales