(RTTNews) - Hilton Worldwide Holdings Inc. (HLT) reported Wednesday that net income for the fourth quarter was $176 million or $0.61 per share, lower than $224 million or $0.75 per share in the prior-year quarter. Adjusted for special items, earnings were $1.00 per share, compared to $0.94 per share last year.
Total revenues for the quarter increased to $2.37 billion from last year's $2.29 billion.
On average, analysts polled by Thomson Reuters expected earnings of $0.96 per share on revenues of $2.36 billion for the quarter. Analysts' estimates typically exclude special items.
System-wide comparable RevPAR decreased 1.0 percent and increased 0.8 percent on a currency neutral basis for the fourth quarter.
Looking ahead to the first quarter, the company forecast earnings, before special items, in a range of $0.67 to $0.73 per share, earnings, adjusted for special items, in a range of $0.85 to $0.91 per share, and system-wide RevPAR to be roughly flat on a currency neutral basis compared to the first quarter of 2019. Analysts expect earnings of $0.84 per share for the quarter.
For fiscal year 2020, the company expects earnings, before special items, in a range of $3.45 to $3.58 per share, earnings, adjusted for special items, in a range of $4.08 to $4.21 per share, and system-wide RevPAR to be flat to 1.0 percent growth on a currency neutral basis compared to 2019. The Street expects the company to earn $4.28 per share for the year.
Hilton noted that its outlook excludes any potential impact of the coronavirus.
"We carry positive momentum into 2020 with expectations of continued strong net unit growth. We are also thrilled with the introduction of Tempo by Hilton, our new lifestyle brand that will provide another platform for growth in the future," said Christopher Nassetta, President & CEO.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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February 11, 2020 at 06:29PM
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Hilton Q4 Results Top View; Provides Weak FY20 Outlook - Quick Facts - Nasdaq
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