Earnings Results: Hilton stock soars 5.7% as hotel operator trounces earnings estimates and raises outlook

by | Jul 28, 2022 | Stock Market

Shares of Hilton Worldwide Holdings Inc. soared 5.7% Wednesday, after the hotel operator blew past estimates — including its own — for the second quarter and forecast continued recovery in travel for the balance of the year. The company posted net income of $368 million, or $1.32 a share, for the period, up from $130 million, or 46 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.29, well ahead of the $1.05 FactSet consensus.

Revenue rose to $2.240 billion from $1.329 billion a year ago, also ahead of the $2.110 billion FactSet consensus. The net income figure exceeded the company’s guidance, as systemwide comparable RevPAR, or revenue per available room, rose 54.3% on a currency neutral basis. “Given our strong results in the quarter, coupled with our confidence in continued recovery throughout the year, we are raising our full-year guidance, including our outlook for capital return,” CEO Christopher J. Nassetta said in a statement. Hilton is now expecting full-year adjusted EPS of $4.21 to $4.46, compared with a FactSet consensus of $4.03. For the third quarter, it expects adjusted EPS of $1.16 to $1.24, compared with a FactSet consensus of $1.15. Sy …

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