Sunstone Hotel Investors (SHO) Tops Q1 EPS by 14c

Sunstone Hotel Investors (NYSE: SHO) reported Q1 EPS of $0.15, $0.14 better than the analyst estimate of $0.01. Revenue for the quarter came in at $271.45 million versus the consensus estimate of $263.16 million.

First Quarter 2018 Operational Results (as compared to First Quarter 2017):

• Net income decreased 39.8% to $38.5 million. Excluding the effect of gains on hotels sold during both the first quarters of 2018 and 2017, net income would have increased 16.7%.
• Income attributable to common stockholders per diluted common share decreased 44.4% to $0.15. Excluding the effect of gains on hotels sold during both the first quarters of 2018 and 2017, income attributable to common stockholders per diluted common share would have increased 14.3%.
• 25 Hotel Comparable Portfolio RevPAR decreased 0.7% to $160.54.
• 25 Hotel Comparable Portfolio Adjusted EBITDAre Margin, excluding prior year property tax adjustments, net decreased 170 basis points to 26.0%. Excluding the Hyatt Regency San Francisco, the Marriott Boston Long Wharf and the Renaissance Los Angeles Airport, all of which were under rooms renovation during the first quarter of 2018, the 22 Hotel Comparable Portfolio Adjusted EBITDAre Margin, excluding prior year property tax adjustments, net would have decreased 40 basis points.
• Adjusted EBITDAre, excluding noncontrolling interest decreased 10.3% to $62.4 million.
• Adjusted FFO attributable to common stockholders per diluted share decreased 16.7% to $0.20.

For earnings history and earnings-related data on Sunstone Hotel Investors (SHO) click here.

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