Sunstone Hotel Investors (SHO) Tops Q2 EPS by 1c, Slight Miss on Revenues

Sunstone Hotel Investors (NYSE: SHO) reported Q2 EPS of $0.20, $0.01 better than the analyst estimate of $0.19. Revenue for the quarter came in at $317.45 million versus the consensus estimate of $317.94 million.

John Arabia, President and Chief Executive Officer, stated, "Our portfolio operating results exceeded our expectations due to stronger-than-anticipated room rate growth and significant increases in both food and beverage revenues and other income. As a result, our second quarter Adjusted EBITDAre and Adjusted FFO per diluted share exceeded the high end of our guidance, and we increased our full-year outlook for both operating fundamentals and earnings. In addition, we recently completed several transactions that enhance our portfolio quality. Following these transactions, we maintain significant financial capacity, which we expect to methodically and prudently invest into Long-Term Relevant Real Estate to further enhance our portfolio quality and earnings."

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

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