Hilton beats by $0.05, beats on revs; guides Q3 EPS below consensus; guides FY24 EPS below consensus (207.12)
- Reports Q2 (Jun) earnings of $1.91 per share, excluding non-recurring items, $0.05 better than the FactSet Consensus of $1.86; revenues rose 10.9% year/year to $2.95 bln vs the $2.9 bln FactSet Consensus.
- System-wide comparable RevPAR increased 3.5 percent, on a currency neutral basis, for the second quarter compared to the same period in 2023.
- Adjusted EBITDA was $917 million.
- Co issues downside guidance for Q3, sees EPS of $1.80-1.85, excluding non-recurring items, vs. $1.89 FactSet Consensus.
- System-wide comparable RevPAR, on a currency neutral basis, is projected to increase between 2.0 percent and 3.0 percent compared to the third quarter of 2023.
- Adjusted EBITDA is projected to be between $875 million and $890 million.
- Co issues downside guidance for FY24, sees EPS of $6.93-7.03, excluding non-recurring items, vs. $7.10 FactSet Consensus.
- System-wide comparable RevPAR, on a currency neutral basis, is projected to increase between 2.0 percent and 3.0 percent compared to 2023.
- Adjusted EBITDA is projected to be between $3,375 million and $3,405 million.
- Net unit growth is projected to be between 7.0 percent and 7.5 percent.
- Full year 2024 capital return is projected to be approximately $3.0 billion.
- In August 2024, our board of directors authorized a regular quarterly cash dividend of $0.15 per share of common stock to be paid on September 27, 2024 to holders of record of our common stock as of the close of business on August 23, 2024.