Choice Hotels: 2Q Earnings Snapshot
ROCKVILLE, Md. (AP) _ Choice Hotels International Inc. (CHH) on Tuesday reported second-quarter net income of $74.4 million.
On a per-share basis, the Rockville, Maryland-based company said it had profit of $1.33. Earnings, adjusted for non-recurring gains, came to $1.19 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The hotel franchiser posted revenue of $317.7 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $303.3 million.
For the current quarter ending in October, Choice Hotels expects its per-share earnings to range from $1.25 to $1.29.
The company expects full-year earnings in the range of $4.16 to $4.22 per share.
Choice Hotels shares have risen 14% since the beginning of the year. The stock has increased 3% in the last 12 months.