Wyndham Worldwide Q1 Adj. Profit Beats Estimates, Lifts FY16 Earnings View

(RTTNews) - Wyndham Worldwide Corp. (WYN) Tuesday reported a decline in first quarter net income to $96 million from $122 million in the prior year. On a per share basis, earnings were $0.84, down from $1.00 in the comparable period. Adjusted earnings were $127 million or $1.12 per share.

On average, 10 analysts polled by Thomson Reuters expected the company to earn $1.11 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased 3 percent to $1.303 billion from $1.262 billion a year ago. Wall Street was looking for $1.31 billion. Hotel group revenues increased 1 percent to $295 million, while domestic RevPAR was flat.

Looking ahead to the full year 2016, the company expects adjusted earnings per share of around $5.61 to $5.75, while its previous outlook was in a range of $5.46 to $5.60 per share. Analysts expect $5.67 per share on revenue of $5.80 billion.

Revenue for the full year, 2016 is expected in the range of $5.800 to $5.950 billion.