Hilton Worldwide (NYSE: HLT) reported Q4 EPS of $0.79, $0.10 better than the analyst estimate of $0.69. Revenue for the quarter came in at $2.28 billion versus the consensus estimate of $2.27 billion.

• Diluted EPS was $0.75 for the fourth quarter and $2.50 for the full year, and diluted EPS, adjusted for special items, was $0.79 for the fourth quarter and $2.79 for the full year
• Net income was $225 million for the fourth quarter and $769 million for the full year
• Adjusted EBITDA was $544 million for the fourth quarter and $2,101 million for the full year, exceeding the high end of guidance
• System-wide comparable RevPAR increased 2.0 percent and 3.0 percent, respectively, for the fourth quarter and full year on a currency neutral basis from the same periods in 2017
• Approved 24,900 new rooms for development during the fourth quarter, growing Hilton\'s development pipeline to more than 364,000 rooms as of December 31, 2018, representing 6 percent growth from December 31, 2017
• Opened 22,500 rooms in the fourth quarter, contributing to 57,000 net additional rooms for the full year, which represented approximately 7 percent net unit growth
• Launched luxury collection brand, LXR Hotels & Resorts
• Repurchased 23.5 million shares of Hilton common stock during 2018, bringing total capital return, including dividends, to approximately $1.9 billion for the full year
• Full year 2019 system-wide RevPAR is expected to increase between 1.0 percent and 3.0 percent on a comparable and currency neutral basis compared to 2018; full year net income is projected to be between $895 million and $931 million; full year Adjusted EBITDA is projected to be between $2,240 million and $2,290 million
• Capital return is projected to be between $1.3 billion and $1.8 billion

Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said, "We are pleased with our fourth quarter and full year results, exceeding the high end of our guidance for Adjusted EBITDA and diluted EPS, adjusted for special items, driven in part by better than expected net unit growth, up roughly 7 percent versus the prior year. In particular, we continued to expand our luxury portfolio with several exciting openings and the launch of our luxury collection brand, LXR Hotels & Resorts. We expect continued strength in room growth, combined with RevPAR growth, to provide a good setup for the year ahead."

GUIDANCE:

Hilton Worldwide sees Q1 2019 EPS of $0.73-$0.78, versus the consensus of $0.59.

Hilton Worldwide sees FY2019 EPS of $3.66-$3.78, versus the consensus of $3.18.

Full Year 2019

• System-wide RevPAR is expected to increase between 1.0 percent and 3.0 percent on a comparable and currency neutral basis compared to 2018.
• Diluted EPS, before special items, is projected to be between $3.00 and $3.12.
• Diluted EPS, adjusted for special items, is projected to be between $3.66 and $3.78.
• Net income is projected to be between $895 million and $931 million.
• Adjusted EBITDA is projected to be between $2,240 million and $2,290 million.
• Management and franchise fee revenue is projected to increase between 7 percent and 9 percent compared to 2018.
• Contract acquisition costs and capital expenditures, excluding amounts indirectly reimbursed by hotel owners, are expected to be between $175 million and $200 million.
• Capital return is projected to be between $1.3 billion and $1.8 billion.
• General and administrative expenses are projected to be between $430 million and $450 million.
• Net unit growth is expected to be approximately 6.5 percent.

First Quarter 2019

• System-wide RevPAR is expected to increase between 1.0 percent and 3.0 percent on a comparable and currency neutral basis compared to the first quarter of 2018.
• Diluted EPS, before special items, is projected to be between $0.56 and $0.61.
• Diluted EPS, adjusted for special items, is projected to be between $0.73 and $0.78.
• Net income is projected to be between $169 million and $183 million.
• Adjusted EBITDA is projected to be between $470 million and $490 million.
• Management and franchise fee revenue is projected to increase between 7 percent and 9 percent compared to the first quarter of 2018.

For earnings history and earnings-related data on Hilton Worldwide (HLT) click here.