Hilton Worldwide (NYSE: HLT) reported Q1 EPS of $0.80, $0.04 better than the analyst estimate of $0.76. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.2 billion.

• Diluted EPS was $0.54 for the first quarter, a 6 percent increase from the same period in 2018, and diluted EPS, adjusted for special items, was $0.80, a 16 percent increase from the same period in 2018
• Net income for the first quarter was $159 million, a 2 percent decrease from the same period in 2018
• Adjusted EBITDA for the first quarter was $499 million, an increase of 12 percent from the same period in 2018 and exceeding the high end of guidance
• System-wide comparable RevPAR increased 1.8 percent on a currency neutral basis for the first quarter from the same period in 2018
• Approved 29,300 new rooms for development during the first quarter, growing Hilton\'s development pipeline to over 371,000 rooms as of March 31, 2019
• Opened 12,100 rooms in the first quarter, contributing to 10,000 net additional rooms, on track to deliver approximately 6.5 percent net unit growth for the full year
• Launched a new meetings-and-events-focused brand, Signia Hilton
• In February 2019, Hilton\'s board of directors authorized an additional $1.5 billion for share repurchases under its stock repurchase program
• Repurchased 3.9 million shares of Hilton common stock during the first quarter, bringing total capital return, including dividends, to approximately $340 million for the quarter
• 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 $881 million and $910 million; full year Adjusted EBITDA is projected to be between $2,265 million and $2,305 million
• Full year 2019 capital return is projected to be between $1.3 billion and $1.8 billion

Overview

Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said, "We are happy to report a good start to the year with first quarter results that exceeded the high end of guidance for Adjusted EBITDA and diluted EPS, adjusted for special items. We continued to drive impressive market share gains across all brand segments and regions during the first quarter, further increasing our industry-leading RevPAR index premium. We were also excited to launch our newest brand, Signia Hilton. We expect this dynamic and innovative brand to change the meetings and events space and enable us to better serve our guests and owners."

GUIDANCE:

Hilton Worldwide sees Q2 2019 EPS of $0.98-$1.03, versus the consensus of $1.01.

Hilton Worldwide sees FY2019 EPS of $3.74-$3.84, versus the consensus of $3.85.

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