Hilton Worldwide (HLT) Tops Q1 EPS by 4c; Raises EBITDA Outlook

Hilton Worldwide (NYSE: HLT) reported Q1 EPS of $0.55, $0.04 better than the analyst estimate of $0.51. Revenue for the quarter came in at $2.07 billion versus the consensus estimate of $2.25 billion.

• Diluted EPS was $0.51 for the first quarter, and diluted EPS, adjusted for special items, was $0.55, a 45 percent increase from the first quarter of 2017
• Net income for the first quarter was $163 million
• Adjusted EBITDA for the first quarter was $445 million, an increase of 9 percent from the same period in 2017
• System-wide comparable RevPAR increased 3.9 percent on a currency neutral basis for the first quarter from the same period in 2017
• Approved 25,700 new rooms for development during the first quarter, growing Hilton\'s development pipeline to 355,000 rooms as of March 31, 2018, representing 9 percent growth from March 31, 2017
• Opened 10,600 rooms in the first quarter, a 7 percent increase from the same period in 2017, adding 7,100 net rooms
• Repurchased 1.3 million shares of Hilton common stock for an aggregate cost of $110 million during the first quarter
• In April 2018, repurchased 16.5 million shares of Hilton common stock from HNA for $1.17 billion in connection with HNA\'s full divestiture of its investment in Hilton
• In April 2018, issued $1.5 billion aggregate principal amount of 5.125% Senior Notes due 2026 to facilitate the stock buyback from HNA and to repay approximately $500 million of Hilton\'s senior secured term loan facility
• Raised guidance for full year 2018 system-wide comparable RevPAR growth to between 2.0 percent and 4.0 percent, an increase of 100 basis points at the mid point
• Raised Adjusted EBITDA guidance for full year 2018 to between $2,060 million and $2,100 million
• Raised capital return guidance for full year 2018 to between $1.7 billion and $1.9 billion

GUIDANCE:

Hilton Worldwide sees FY2018 EPS of $2.62-$2.71, versus the consensus of $2.65.

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

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