Host Hotels & Resorts Q1 FFO Beats Estimates - Quick Facts

(RTTNews) - Host Hotels & Resorts, Inc. (HST) Thursday reported a rise in adjusted Funds From Operations, or FFO, for the first quarter, beating the Street expectations.

For the first quarter, adjusted FFO rose to $257 million or $0.33 per share, from $214 million pr $0.28 per share a year earlier.

On average, 23 analysts polled by Thomson-Reuters estimated the company's FFO to be $0.30 per share. Analysts' estimates typically exclude one-time items.

Net earnings for the 3-month period surged to $179 million or $0.24 per share from $56 million or $0.08 per share a year earlier.

For the three months to March, adjusted EBITDA rose to $308 million from $283 million a year ago.

First-quarter revenues grew by 6.9 percent to $1.309 billion from $1.224 billion a year earlier. Comparable revenue per available room rose 6.8 percent on a constant dollar basis and comparable food and beverage operations increased by 9.4 percent.

For 2014, the company expects adjusted FFO of $1.41 to $.46 per share and earnings of $0.64 to $0.69 per share.

Analysts expect adjusted FFO of $1.43 per share for the year.

The company also said it expects 3.3 percent to 4.3 percent growth in revenues and 4.7 percent to 5.7 percent increase in comparable hotel revenues for 2014.