logo
  Join        Login             Stock Quote

Starwood Hotels & Resorts (HOT) 4Q Earnings Drop 58.9 Pct, Yet Beat Estimates

 February 07, 2013 07:44 AM
 


(By Balasesha) Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) reported a 58.9% drop in quarterly earnings wider loss on early extinguishment of debt despite a rise in revenue. Results exceeded Street's expectations.

Earnings from continuing operations for the fourth quarter were $65 million or $0.33 per share, down from $158 million or $0.80 per share last year. Adjusted earnings per share (EPS) from continuing operations declined to $0.70 from $0.71.

Revenues marginally rose 0.1% to $1.53 billion.

Analysts, on average, polled by Thomson Reuters had expected a profit of $0.65 per share on revenue of $1.49 billion for the fourth quarter.

[Related -How To Supply Your Portfolio With Outperforming Stocks]

Worldwide Systemwide REVPAR for same-store hotels increased 4.1% in constant dollars (3.6% in actual dollars). Systemwide REVPAR for same-store hotels in North America grew 5.2% in constant dollars (5.4% in actual dollars).

Management fees, franchise fees and other income increased 5.1%, while management and franchise revenues grew 11.2%.

Looking ahead into the first quarter, the company projects EPS including Bal Harbour of about $0.51 to $0.54, while Street predicts $0.49. Profit from continuing operations is expected to be about $99 million to $105 million, including Bal Harbour

For the fiscal 2013, the company anticipates EPS including Bal Harbour of about $2.59 to $2.68, while Street predicts $2.64. Depreciation and amortization is expected to be about $300 million. Interest expense is projected to be about $125 million.

[Related -Stock Upgrades And Downgrades: ATW, DO, DVN, FLEX, FDS, HOT, HPQ, STX]

HOT closed Wednesday's regular session up 1.38% at $62.60. The stock has been trading between $47.41 and $62.67 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageCrude Rebound

Since the price of crude oil broke below $90 per barrel in September, the Brent global benchmark has been read on...

article imageShould You Invest In The Hottest New Trend In Finance?

Thanks to major changes in regulation, social media and technology, the business of banking has undergone read on...

article imageStrong Attractor in Action Pulling S&P 500 Down

The attractor is formed by the 200-day moving average and the 50% Fibonacci retracement of the up move from read on...

article imageIs The Weak Housing Market A Warning Sign For The US Economy?

Today’s US economic releases – housing starts and business survey data for the manufacturing sector – read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.