Extended Stay America: 2Q Earnings Snapshot
CHARLOTTE, N.C. (AP) _ Extended Stay America Inc. (STAY) on Tuesday reported second-quarter earnings of $53.5 million.
The Charlotte, North Carolina-based company said it had net income of 28 cents per share. Earnings, adjusted for non-recurring costs, were 32 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The hotel operator posted revenue of $323.7 million in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $318.7 million.
Extended Stay America expects full-year earnings in the range of $1 to $1.10 per share, with revenue in the range of $1.22 billion to $1.23 billion.
Extended Stay America shares have declined 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.01, a decrease of 31% in the last 12 months.