Choice Hotels Q1 Net Income Declines

(RTTNews) - Choice Hotels International, Inc. (CHH) reported first quarter net income of $31.0 million, down 41% compared to the same period of 2023. Earnings per share was $0.62, down 39%. Adjusted EPS increased 14% to $1.28. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $1.14, for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $331.95 million compared to $332.79 million, previous year. Analysts on average had estimated $343.17 million in revenue. Revenues, excluding reimbursable revenue from franchised and managed properties, calculated as total revenues net of reimbursable revenue of $129 million, increased 16% to $203 million.

The company increased guidance for EPS and reiterated guidance for net income, adjusted EBITDA, and adjusted EPS for full-year 2024. EPS is now expected in a range of $5.35 - $5.65, revised from prior guidance range of $5.19 - $5.49.

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