Wyndham Hotels & Resorts, Inc. (WH) Misses Q4 EPS by 2c

Wyndham Hotels & Resorts, Inc. (NYSE: WH) reported Q4 EPS of $0.52, $0.02 worse than the analyst estimate of $0.54. Revenue for the quarter came in at $392 million versus the consensus estimate of $384.72 million.

• U.S. RevPAR for the quarter exceeded 2019 levels by 9%, growing 58% versus 2020.
• System-wide rooms grew 180 basis points year-over-year, including 70 basis points of growth in the U.S. and 350 basis points of growth internationally.
• Diluted earnings per share for the quarter of $0.52 and net income of $48 million; diluted EPS for the full-year of $2.60 and net income of $244 million.
• Adjusted diluted earnings per share of $0.69 for the quarter and adjusted net income of $64 million; adjusted earnings per share for the full-year of $3.16 and adjusted net income of $297 million.
• Adjusted EBITDA of $131 million for the quarter and $590 million for the full-year.
• Net cash provided by operating activities for the full-year of $426 million and free cash flow of $389 million.
• Returned over $190 million to shareholders for the full-year through share repurchases and dividends.

The Company provided the following outlook for full-year 2022:

• Net rooms growth of 2% to 4%.
• RevPAR growth of 12% to 16% versus 2021, which is consistent with 2019 levels.
• Fee-related and other revenues of $1.34 billion to $1.37 billion, a year-over-year increase of 8% to 10%.
• Adjusted EBITDA of $605 million to $625 million, which is consistent with 2019 levels, and reflects a year-over-year increase of 3% to 6%.
• Adjusted net income of $308 million to $320 million, which is consistent with 2019 levels, and reflects a year-over-year increase of 4% to 8%.
• Adjusted diluted EPS of $3.28 to $3.40, based on a diluted share count of 93.9 million that excludes any share repurchases after December 31, 2021. Reflects growth up to 4% compared to 2019, and a year-over-year increase of 4% to 8%.
• Free cash flow conversion from adjusted EBITDA of approximately 55%.

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

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