La Quinta Holdings Reports Q2 Pro Forma EPS Of $0.14; Lifts Full Year Guidance

(RTTNews) - La Quinta Holdings Inc. (LQ) reported second-quarter pro forma net income to shareholders of $17.46 million or $0.14 per share, compared to $15.51 million or $0.13 per share, prior year. Pro forma total adjusted EBITDA increased to $106.04 million from $93.79 million. System wide comparable RevPAR increased 7.7 percent.

Based on historical statements of operations, loss from continuing operations before income taxes was $12.63 million, compared to profit of $12.62 million, last year.

On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.11 for the quarter. Analysts' estimates typically exclude special items.

Pro forma total revenue was $261.81 million, compared to $241.91 million, prior year. Analysts expected revenue of $257.88 million for the quarter. Based upon current estimates, the company increased its guidance for full year 2014 as: RevPAR growth on a system-wide comparable hotel basis of 6.0 percent to 7.0 percent compared to prior guidance of 5.5 percent to 7.0 percent; and pro forma adjusted EBITDA of $367 million to $372 million; compared to prior outlook of $362 million to $368 million.