Extended Stay America (STAY) Tops Q3 EPS by 2c; Offers FY15 Guidance

Extended Stay America (NYSE: STAY) reported Q3 EPS of $0.33, $0.02 better than the analyst estimate of $0.31. Revenue for the quarter came in at $360.5 million versus the consensus estimate of $358.96 million.

Extended Stay America sees FY2015 revenue of $1.285-1.290 billion, versus the consensus of $1.29 billion.

• Adjusted EBITDA is expected to range from $602 million to $607 million, representing approximately 8.1% to 9.0% growth over 2014
• Depreciation and amortization of $204 million to $208 million
• Net interest expense of $137 million to $138 million
• Effective tax rate is expected to be between 23.5% and 24.6%
• Net income is anticipated to range from $171 million to $182 million
• Capital expenditures of $205 million to $215 million
• Upon closing of the economy extended stay portfolio asset sale, we expect to declare a special distribution of $0.20 to $0.25 per Paired Share, subject to approval by ESH REIT and Extended Stay America’s Boards of Directors and satisfaction of our debt covenants. No distribution has yet been declared, and there can be no assurance that any distribution will be declared or paid

For earnings history and earnings-related data on Extended Stay America (STAY) click here.

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