Hilton beats profit expectations but comes up shy on revenue, provides downbeat earnings outlook

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Shares of Hilton Worldwide Holdings Inc. HLT,
+0.08%
dropped 3.0% in premarket trading Tuesday after the hotel operator reported first-quarter profit that topped expectations, while revenue nearly doubled but missed forecasts and RevPAR came up shy. The company swung to net income of $21 million, or 75 cents a share, from a loss of $108 million, or 39 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 71 cents topped the FactSet consensus of 66 cents. Revenue jumped 196.9% to $1.72 billion, but was below the FactSet consensus of $1.75 billion. Revenue per available room (RevPAR) of $80.84, which was up 80.5% from a year ago but down 17.0% from the same period in pre-pandemic 2019, was shy of the FactSet consensus of $81.20. For the second quarter, Hilton expects adjusted EPS of 98 cents to $1.03, below the FactSet consensus of $1.07, while comparable RevPAR is expected to increase 45% to 50% from last year but be down 5% to 10% from 2019. The stock has slipped 0.4% year to date while the S&P 500 SPX,
+0.57%
has shed 12.8%.

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Credit: www.marketwatch.com /

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