DiamondRock Hospitality (DRH) Tops Q3 EPS by 2c

DiamondRock Hospitality (NYSE: DRH) reported Q3 EPS of $0.15, $0.02 better than the analyst estimate of $0.13.

• Net Income: Net income was $31.4 million and earnings per diluted share was $0.15.
• Comparable RevPAR: RevPAR was $192.07, a 0.7% decrease from the comparable period of 2017.
• Comparable Hotel Adjusted EBITDA Margin: Hotel Adjusted EBITDA margin was 31.51%, a 4 basis point contraction from the comparable period of 2017. The Company maintained tight cost controls with total comparable hotel expenses increasing only 1.4%.
• Adjusted EBITDA: Adjusted EBITDA was $70.3 million, an increase of $7.2 million from 2017.
• Adjusted FFO: Adjusted FFO was $56.9 million and Adjusted FFO per diluted share was $0.27.
• Business Interruption Income: The Company recognized $8.2 million of business interruption income during the quarter related to the insurance claims for Frenchman\'s Reef and Morning Star Marriott Beach Resort, Havana Cabana Key West and The Lodge at Sonoma Renaissance Resort & Spa.
• Insurance Claim Settlements: The Company settled its insurance claims for the Havana Cabana Key West and The Lodge at Sonoma Renaissance Resort & Spa in July 2018.
• Dividends: The Company declared a dividend of $0.125 per share during the third quarter, which was paid on October 12, 2018.

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

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