Hyatt Hotels Turns To Profit In Q1; Adj. EPS Miss Estimates; Stock Down In Premarket

(RTTNews) - Hyatt Hotels Corp. (H) reported Thursday that its first-quarter net income was $58 million, compared to net loss of $73 million a year ago. Earnings per share was $0.53, compared to loss of $0.67 last year.

Adjusted net income was $45 million, compared to Adjusted net loss of $36 million in the first quarter of 2022. Adjusted earnings per share were $0.41, while last year's loss was $0.33.

On average, 13 analysts polled by Thomson Reuters expect earnings of $0.48 per share for the year. Analysts' estimates typically exclude special items.

Comparable system-wide RevPAR increased 42.9 percent. Comparable owned and leased hotels RevPAR increased 52.9 percent, and comparable owned and leased hotels operating margin improved to 25.9 percent.

Looking ahead, the company said it raised full year RevPAR outlook while maintaining pipeline and industry leading net rooms growth.

In pre-market activity on the NYSE, Hyatt shares were trading at $112, down 5.25 percent.

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