Felcor Lodging Trust (FCH) Misses Q1 EPS by 23c

Felcor Lodging Trust (NYSE: FCH) reported Q1 EPS of ($0.31), $0.23 worse than the analyst estimate of ($0.08).

• Same-store RevPAR was $142.15 compared to $143.97 for the same period in 2016.
• Net loss attributable to FelCor common stockholders was $42.2 million ($0.31 per share) versus $11.2 million ($0.08 per share) for the same period in 2016.
• Adjusted FFO per share was $0.09 versus $0.14 for the same period in 2016.
• Same-store Adjusted EBITDA was $40.1 million versus $43.1 million for the same period in 2016.

“Since our last earnings release, we have continued on our path to recognize and realize the value of our portfolio for all our stockholders,” said Steven R. Goldman, FelCor’s Chief Executive Officer. “Adjusted FFO per share and Adjusted EBITDA for the quarter were in line with our expectations and speak to the quality of our portfolio and its ability to withstand some challenging market conditions.”

“Following the end of the quarter, in addition to the recent merger announcement with RLJ, we finalized agreements to sell Morgans and Royalton in New York City,” continued Mr. Goldman. “For the remainder of the year, we remain focused on operating the business and working to complete our merger with RLJ.”

For earnings history and earnings-related data on Felcor Lodging Trust (FCH) click here.

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