La Quinta Holdings (LQ) Misses Q3 EPS by 1c; Lifts Outlook

La Quinta Holdings (NYSE: LQ) reported Q3 EPS of $0.16, $0.01 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $271.2 million versus the consensus estimate of $264.24 million.

The increasing its guidance for full year 2014 and is expecting:

Wayne B. Goldberg, President & Chief Executive Officer of La Quinta, said, "Our third quarter results demonstrate another quarter of solid performance delivered across our key metrics, including strong RevPAR, franchise unit, and EBITDA growth, and EBITDA margin expansion. Overall, the lodging industry remains healthy, with a steadily improving economy and strong transient travel demand. La Quinta is extremely well-positioned to continue to capture this demand as we capitalize on our refreshed and upgraded portfolio and our repositioned brand. Over the last twelve months, we have grown our franchise base 8% and, in the third quarter, opened our 500th franchise property. This unit growth, along with our increased occupancy, allows our geographic reach and customer base to continue to grow. Franchise interest in the La Quinta brand remains robust and our ongoing system growth is further supported by a continued strong pipeline. Furthermore, we have continued to de-lever our balance sheet and we remain focused on our strategic objectives, all of which are designed to increase shareholder value."

For earnings history and earnings-related data on La Quinta Holdings (LQ) click here.

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