Park Hotels & Resorts (PK) Tops Q3 EPS by 17c, Beats on Revenues
Park Hotels & Resorts (NYSE: PK) reported Q3 EPS of $0.48, $0.17 better than the analyst estimate of $0.31. Revenue for the quarter came in at $688 million versus the consensus estimate of $674.85 million.
Third Quarter 2017 Highlights
- Comparable RevPAR was $166.66, a decrease of 0.1% on a Pro-forma basis from the same period in 2016; excluding impact from hurricanes, Comparable RevPAR remained flat from the same period in 2016;
- Net income was $105 million and net income attributable to stockholders was $103 million;
- Adjusted EBITDA was $183 million;
- Adjusted FFO attributable to stockholders was $141 million;
- Diluted earnings per share was $0.48;
- Diluted Adjusted FFO per share was $0.66;
- Comparable Hotel Adjusted EBITDA margin was 27.0%, a decrease of 120 bps on a Pro-forma basis from the same period in 2016; and
- Caribe Hilton was removed from comparable results following damage sustained from Hurricane Maria.
For earnings history and earnings-related data on Park Hotels & Resorts (PK) click here.
