RLJ Lodging Trust (RLJ) Misses Q2 EPS by 2c, Revenues

RLJ Lodging Trust (NYSE: RLJ) reported Q2 EPS of $0.33, $0.02 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $484.69 million versus the consensus estimate of $483.15 million.

“We continued the successful execution of our asset disposition strategy with our recent sale of the Embassy Suites Napa Valley,” commented Ross H. Bierkan, President and Chief Executive Officer. “With an unwavering focus, we have made meaningful progress in accomplishing our strategic objectives. Over the past year, we have generated $400 million from assets sales at an average EBITDA multiple of approximately 15x. With a healthy disposition pipeline, we are on pace to meet our incremental asset sales objective for 2018. Our leverage continues to be at our target and we have nearly realized our G&A synergies. With solid momentum and a talented team in place, I am confident that RLJ is well positioned to unlock meaningful value for shareholders in the years to come.”

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery