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Park Hotels & Resorts (PK) Reports Q2 Earnings: What Key Metrics Have to Say
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Park Hotels & Resorts (PK - Free Report) reported $714 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 2.7%. EPS of $0.60 for the same period compares to $0.66 a year ago.
The reported revenue represents a surprise of -1.52% over the Zacks Consensus Estimate of $725.05 million. With the consensus EPS estimate being $0.60, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Park Hotels & Resorts performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Occupancy Rate: 74.4% compared to the 75.93% average estimate based on two analysts.
Revenues- Rooms: $442 million compared to the $447.24 million average estimate based on five analysts. The reported number represents a change of +2.1% year over year.
Revenues- Ancillary hotel: $72 million versus $70.13 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.9% change.
Revenues- Food and beverage: $178 million versus the four-analyst average estimate of $180.83 million. The reported number represents a year-over-year change of +2.9%.
Revenues- Other: $22 million versus $21.75 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.8% change.
Earnings per share - Diluted: -$0.70 versus $0.29 estimated by five analysts on average.
Shares of Park Hotels & Resorts have returned +1.6% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Park Hotels & Resorts (PK) Reports Q2 Earnings: What Key Metrics Have to Say
Park Hotels & Resorts (PK - Free Report) reported $714 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 2.7%. EPS of $0.60 for the same period compares to $0.66 a year ago.
The reported revenue represents a surprise of -1.52% over the Zacks Consensus Estimate of $725.05 million. With the consensus EPS estimate being $0.60, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Park Hotels & Resorts performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Occupancy Rate: 74.4% compared to the 75.93% average estimate based on two analysts.
- Revenues- Rooms: $442 million compared to the $447.24 million average estimate based on five analysts. The reported number represents a change of +2.1% year over year.
- Revenues- Ancillary hotel: $72 million versus $70.13 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.9% change.
- Revenues- Food and beverage: $178 million versus the four-analyst average estimate of $180.83 million. The reported number represents a year-over-year change of +2.9%.
- Revenues- Other: $22 million versus $21.75 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.8% change.
- Earnings per share - Diluted: -$0.70 versus $0.29 estimated by five analysts on average.
View all Key Company Metrics for Park Hotels & Resorts here>>>Shares of Park Hotels & Resorts have returned +1.6% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.