DiamondRock Hospitality (DRH) Reports In-Line Q1 EPS; offers guidance

DiamondRock Hospitality (NYSE: DRH) reported Q1 EPS of $0.03, in-line with the analyst estimate of $0.03. Revenue for the quarter came in at $256.4 million versus the consensus estimate of $249.34 million.

GUIDANCE

The Company is providing annual guidance for 2024, but does not undertake to update it for any developments in its business.

The Company is revising its annual guidance for 2024and now expects full year 2024 results to be as follows:

Adjusted FFO of $194 million- $214 million

Adjusted FFO per share (based on 213.5 million diluted shares) of $0.91 per share- $1.00 per share

Corporate expenses of $29.5 million to $30.5 million, which excludes expected executive transition costs which will be excluded from Adjusted EBITDA and Adjusted FFO.

For earnings history and earnings-related data on DiamondRock Hospitality (DRH) click here.

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