Wyndham Hotels & Resorts, Inc. (WH) Reports In-Line Q4 EPS, Revenues Beat; Provides FY20 EPS/Revenue Guidance

Wyndham Hotels & Resorts, Inc. (NYSE: WH) reported Q4 EPS of $0.81, in-line with the analyst estimate of $0.81. Revenue for the quarter came in at $492 million versus the consensus estimate of $487.41 million.

• Diluted earnings per share for the quarter increased 58% to $0.68 and was unchanged for the full-year at $1.62; adjusted diluted EPS grew 40% to $0.81 for the quarter and 21% to $3.28 for the full-year.
• Net income increased 49% to $64 million for the quarter, and decreased 3% to $157 million for the full-year; adjusted net income increased 35% to $77 million for the quarter, and 17% to $317 million for the full-year.
• Adjusted EBITDA increased 22% to $153 million for the quarter, and 21% to $613 million for the full-year.
• System-wide rooms grew 3% year-over-year, including U.S. rooms growth of 1% and international rooms growth of 6%.
• The Company\'s development pipeline grew 7% year-over-year to 193,000 rooms.
• U.S. RevPAR declined 3% compared to the prior-year quarter, and international RevPAR remained unchanged compared to the prior-year quarter in constant currency.
• Returned over $100 million to shareholders in the quarter, through share repurchases and dividends, and over $350 million for the full-year 2019.

"We finished 2019 with another solid quarter, capping off a year in which we delivered rooms growth, earnings growth and free cash flow that were in line with our expectations despite headwinds from a soft RevPAR environment. We achieved these results through consistent execution, careful expense management and disciplined capital allocation," said Geoffrey A. Ballotti, chief executive officer. \"As we enter 2020, we are confident in the strength and resilience of our business and remain focused on executing every day to deliver exceptional value for our hotel owners, hotel guests and shareholders."

GUIDANCE:

Wyndham Hotels & Resorts, Inc. sees FY2020 EPS of $3.48-$3.58, versus the consensus of $3.55. Wyndham Hotels & Resorts, Inc. sees FY2020 revenue of $1.89-1.93 billion, versus the consensus of $2.08 billion.

The Company provided the following outlook for full-year 2020, excluding any potential impact from the Coronavirus:

• Revenues of $1.89 billion to $1.93 billion driven by lower cost-reimbursement revenues, which have no impact on adjusted EBITDA. Excluding cost-reimbursement revenues, the Company expects revenues of $1.46 billion to $1.49 billion.
• Adjusted net income of $329 million to $339 million.
• Adjusted EBITDA of $635 million to $645 million, as illustrated below.
• Adjusted diluted EPS of $3.48 to $3.58, based on an adjusted diluted share count of 94.6 million that excludes future share repurchases.
• Rooms growth of 2% to 4%, including an expected (0.7%) adverse impact from the loss of rooms that were previously covered by unprofitable hotel-management guarantees.
• RevPAR of flat to down (2%) in constant currency, including an expected (0.7%) adverse impact from the loss of rooms that were previously covered by unprofitable hotel-management guarantees.

For earnings history and earnings-related data on Wyndham Hotels & Resorts, Inc. (WH) click here.

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