Wyndham Worldwide Q3 Profit Down; But Raises 2015 Adj. EPS View - Quick Facts

(RTTNews) - Wyndham Worldwide Corp. (WYN) reported that its net income for the third-quarter declined from last year. But the company raised its fiscal year 2015 adjusted earnings per share outlook.

Reported net income for the third quarter of 2015 was $190 million, or $1.61 per share, compared with $206 million, or $1.64 per share, for the third quarter of 2014. Reported net income in both periods refleced several items excluded from adjusted net income. The net result of these items unfavorably impacted third quarter 2015 net income by $20 million and unfavorably impacted third quarter 2014 net income by $4 million.

Adjusted net income was $210 million, or $1.78 per share, compared with $210 million, or $1.67 per share for the same period in 2014.

Third quarter revenues were $1.6 billion, an increase of 3% from the prior year period. Excluding acquisitions and a divestiture, constant currency revenues increased 6% reflecting growth in each of the Company's business segments.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.68 per share and revenues of $1.55 billion for the quarter. Analysts' estimates typically exclude special items.

The company raised its fiscal year 2015 Adjusted earnings per share outlook to a range of $5.06 to $5.09 from the prior estimate of $4.88 to $5.03 per share. The company still expects revenues of approximately $5.450 billion - $5.550 billion for fiscal year 2015. Wall Street currently is looking for fiscal year 2015 earnings of $5.02 per share on annual revenues of $5.50 billion.

In 2016, the company expects organic adjusted EBITDA growth consistent with its long-term target range of 6% - 8%.