Extended Stay America (STAY) Reports In-Line Q1 EPS, Revenues Beat, Comp. RevPAR Down 1.6%; Affirms FY19 EPS/Revenue Guidance

Extended Stay America (NASDAQ: STAY) reported Q1 EPS of $0.16, in-line with the analyst estimate of $0.16. Revenue for the quarter came in at $277.7 million versus the consensus estimate of $275.52 million.

• Net Income of $28.4 million
• Total revenues of $277.7 million
• Comparable system-wide Revenue Per Available Room (“RevPAR”) declined 1.6% to $46.74
• Adjusted EBITDA of $116.3 million
• Adjusted Funds From Operations (“Adjusted FFO”)1 of $0.36 per diluted Paired Share
• Adjusted Paired Share Income1 of $0.16 per diluted Paired Share

Extended Stay America’s President and Chief Executive Officer, Jonathan Halkyard, commented, “We believe the progress we’ve made in recent months has set us up for success operationally and with our ongoing ESA 2.0 growth strategy.”

Mr. Halkyard continued, “Today we increased our dividend for the fifth consecutive year, highlighting our strong cash generation ability and our commitment to return significant capital to shareholders.”

GUIDANCE:

Extended Stay America sees FY2019 EPS of $1.02-$1.14, versus the consensus of $1.09. Extended Stay America sees FY2019 revenue of $1.23-1.25 billion, versus the consensus of $1.23 billion.

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

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