--> no pre market for now
Hilton Hotels misses by $0.01, reports revs in-line; guides Q3 EPS below consensus; guides FY16 EPS below consensus
- Reports Q2 (Jun) earnings of $0.25 per share, $0.01 worse than the Capital IQ Consensus of $0.26; revenues rose 2.0% year/year to $3.05 bln vs the $3.05 bln Capital IQ Consensus.
- System-wide comparable RevPAR increased 2.9% for the second quarter on a currency neutral basis from the same period in 2015
- Management and franchise fees for the second quarter increased 9% from the same period in 2015 to $471 million
- Net unit growth was 10,400 rooms in the second quarter contributing to a 7% growth in managed and franchised rooms from 2015
- Co issues downside guidance for Q3, sees EPS of $0.21-0.23, excluding non-recurring items, vs. $0.27 Capital IQ Consensus Estimate.
- Q3 - System-wide RevPAR is expected to increase between 2.0% and 4.0% on a comparable and currency neutral basis compared to the third quarter of 2015
- Q3 - System-wide RevPAR is expected to increase between 2.0% and 4.0% on a comparable and currency neutral basis compared to the third quarter of 2015
- Co issues downside guidance for FY16, sees EPS of $0.87-0.91, excluding non-recurring items, vs. $0.96 Capital IQ Consensus Estimate.
- FY16 - System-wide RevPAR is expected to increase between 2.0% and 4.0% on a comparable and currency neutral basis, with ownership segment RevPAR expected to increase between 1.0% and 3.0% on a comparable and currency neutral basis, as compared to 2015.
- Capital expenditures, excluding timeshare inventory, are expected to be between $400-450 million.