Wyndham Tops Q2 Expectations; Updates EPS View, Backs Revenue For FY15

(RTTNews) - Wyndham Worldwide Corp. (WYN), a provider of hospitality services and products, Tuesday reported that its net income for the second quarter rose to $159 million or $1.33 per share from last year's $153 million or $1.20 per share.

On an adjusted basis, earnings per share was up 13 percent to $1.32. On average, nine analysts polled by Thomson Reuters expected the company to report earnings per share of $1.26 for the quarter. Analysts' estimates typically exclude special items.

The company said its earnings per share also benefited from its share repurchase program, which decreased the weighted average diluted share count by 6% year-over-year.

For the second quarter, revenues grew 4 percent to $1.4 billion. In constant currency, revenues increased 8 percent, reflecting growth across all the Company's business segments. Analysts expected revenue of $1.37 billion for the quarter.

Looking ahead, for full year 2015, the company said it now expects adjusted earnings per share of about $4.88-$5.03 based on a diluted share count of 120.2 million. This compares to prior projected range of $4.81-$4.96 based on a diluted share count of 121.4 million.

For the year, the Company reiterated its revenue guidance in the range of $5.450 billion - $5.550 billion.

The Street currently expects earnings per share of $4.95, on revenues of $5.47 billion, for the year.