Choice Hotels (CHH) Tops Q3 EPS by 15c

Choice Hotels (NYSE: CHH) reported Q3 EPS of $1.51, $0.15 better than the analyst estimate of $1.36. Revenue for the quarter came in at $323.4 million versus the consensus estimate of $310.56 million.

Outlook:

• COVID-19 continues to impact the company's business and the outlook reflects the company's estimates based on the best information available at this time. The adjusted numbers in the company's outlook exclude the net surplus or deficit generated from the company's marketing and reservation system activities, as well as other items. See Exhibit 8 for the calculation of adjusted forecasted results and the reconciliation to the comparable GAAP measures.
• Domestic RevPAR for full-year 2021 is expected to surpass 2019 levels and grow at approximately 1%, as compared to full-year 2019.
• Adjusted EBITDA for full-year 2021 is expected to exceed 2019 levels and range between $382 million and $387 million.
• The company's outlook for adjusted EBITDA is based on the current number of shares of common stock outstanding and, therefore, does not reflect any subsequent changes that may occur due to new equity grants or further repurchases of common stock under the company's stock repurchase program.

For earnings history and earnings-related data on Choice Hotels (CHH) click here.

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