Chatham Lodging Trust (CLDT) Misses Q3 FFO by 1c, Offers Guidance
Chatham Lodging Trust (NYSE: CLDT) reported Q3 FFO of $0.76, $0.01 worse than the analyst estimate of $0.77. Revenue for the quarter came in at $78.2 million versus the consensus estimate of $77.69 million.
Outlook and 2015 Guidance
The company provides guidance, but does not undertake to update it for any developments in its business. Achievement of the results is subject to the risks disclosed in the company’s filings with the Securities and Exchange Commission. The company’s 2015 guidance reflects the following:
| Q4 2015 | 2015 Forecast | |||||||
| RevPAR | $119-$120 | $131-$132 | ||||||
| RevPAR growth | +5.0-5.5% | +5.75-6.0% | ||||||
| Total hotel revenue | $66.0-$66.4 M | $272.8-$273.2 M | ||||||
| Net income | $1.5-$2.3 M | $30.2-$31.0 M | ||||||
| Net income per diluted share | $0.04-$0.06 | $0.78-$0.80 | ||||||
| Adjusted EBITDA | $27.0-$27.8 M | $127.5-$128.3 M | ||||||
| Adjusted funds from operation ("FFO") | $16.3-$17.1 M | $87.8-$88.6 M | ||||||
| Adjusted FFO per diluted share | $0.42-$0.44 | $2.29-$2.31 | ||||||
| Hotel EBITDA margins | 39.3-40.3% | 43.4-43.7% | ||||||
| Corporate cash administrative expenses | $2.2 M | $8.5 M | ||||||
| Corporate non-cash administrative expenses | $0.8 M | $2.9 M | ||||||
| Cash Interest expense | $7.2 M | $26.6 M | ||||||
| Non-cash amortization of deferred fees | $0.5 M | $1.9 M | ||||||
| Income taxes | $0.3 M | $0.6 M | ||||||
| Chatham’s share of JV EBITDA | $3.2-$3.3 M | $17.1-$17.2 M | ||||||
| Chatham’s share of JV FFO | $1.3-$1.4 M | $9.5-$9.6 M | ||||||
| Weighted average shares outstanding | 38.6 M | 38.3 M |
For earnings history and earnings-related data on Chatham Lodging Trust (CLDT) click here.