Starwood Hotels beats by $0.09, beats on revs; guides Q2 EPS below consensus; guides FY15 EPS in-line
Reports Q1 (Mar) earnings of $0.65 per share, $0.09 better than the Capital IQ Consensus Estimate of $0.56; revenues fell 2.9% year/year to $1.42 bln vs the $1.38 bln consensus. Worldwide Systemwide REVPAR for Same-Store Hotels increased 5.2% in constant dollars (1.9% in actual dollars) compared to 2014. Systemwide REVPAR for Same-Store Hotels in North America increased 6.8% in constant dollars (5.8% in actual dollars).
- Co issues downside guidance for Q2, sees EPS of $0.70-0.74 vs. $0.79 Capital IQ Consensus Estimate.
- Co issues in-line guidance for FY15, sees EPS of $2.94-3.04 vs. $2.95 Capital IQ Consensus Estimate. FY15 Guidance: REVPAR increases at Same-Store Systemwide Hotels Worldwide of 5% to 7% in constant dollars (approximately 450 basis points lower in actual dollars at current exchange rates).