Hilton Reports Third Quarter Results, Raises Full Year Outlook
Hilton Worldwide Holdings Inc. (Hilton or the Company) (NYSE: HLT) today reported its third quarter 2017 results. |
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Hilton Reports Third Quarter Results, Raises Full Year Outlook
Hilton Worldwide Holdings Inc. (Hilton or the Company) (NYSE: HLT) today reported its third quarter 2017 results. |
Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2017-10-27
All results herein present the performance of Hilton giving effect to the spin-offs of Park Hotels & Resorts Inc. ("Park") and Hilton Grand Vacations Inc. ("HGV") on January 3, 2017 (the "spin-offs"), with the historical financial results of Park and HGV reflected as discontinued operations. Additionally, all historical share and share-related information presented herein have been retrospectively adjusted to reflect the 1-for-3 reverse stock split of Hilton's outstanding common stock that occurred on January 3, 2017 (the "Reverse Stock Split").Highlights include: - Diluted EPS from continuing operations for the second quarter was $0.51 and diluted EPS, adjusted for special items, was $0.52, an increase of 30 percent from the second quarter of 2016 on a pro forma basis
- Net income for the second quarter was $167 million
- Adjusted EBITDA for the second quarter was $519 million, an increase of 10 percent from pro forma Adjusted EBITDA for the second quarter of 2016
- Adjusted EBITDA margin was 57.0 percent, an increase of 340 basis points from pro forma Adjusted EBITDA margin for the second quarter of 2016
- System-wide comparable RevPAR increased 1.8 percent on a currency neutral basis for the second quarter compared to the prior year
- Added 13,400 net rooms in the second quarter, representing approximately 30 percent growth from the same period in 2016
- Approved 27,400 new rooms for development during the second quarter, growing Hilton's development pipeline to a record 332,000 rooms, representing 15 percent growth from June 30, 2016
- Repurchased 4.5 million shares of Hilton common stock for an aggregate cost of $282 million during the second quarter, and 6.8 million shares at an aggregate cost of $425 million since share repurchases began in March 2017
- Raised Adjusted EBITDA guidance for full year 2017 to between $1,880 million and $1,920 million, an increase of $20 million at the midpoint
- Raised cash available for capital return guidance for full year 2017 to between $1.0 billion and $1.1 billion, an increase of $100 million at the midpoint
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