Back to top

Image: Bigstock

Compared to Estimates, Apple Hospitality REIT (APLE) Q2 Earnings: A Look at Key Metrics

Read MoreHide Full Article

For the quarter ended June 2023, Apple Hospitality REIT (APLE - Free Report) reported revenue of $361.63 million, up 7.1% over the same period last year. EPS came in at $0.49, compared to $0.29 in the year-ago quarter.

The reported revenue represents a surprise of +1.88% over the Zacks Consensus Estimate of $354.95 million. With the consensus EPS estimate being $0.51, the EPS surprise was -3.92%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Apple Hospitality REIT performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- Room: $331.04 million versus the three-analyst average estimate of $329.98 million. The reported number represents a year-over-year change of +6%.
  • Revenues- Food and beverage: $15.51 million compared to the $14.80 million average estimate based on two analysts. The reported number represents a change of +29% year over year.
  • Revenues- Other: $15.08 million compared to the $14.02 million average estimate based on two analysts. The reported number represents a change of +13.6% year over year.
  • Net Earnings Per Share (Diluted): $0.29 versus the three-analyst average estimate of $0.31.
View all Key Company Metrics for Apple Hospitality REIT here>>>

Shares of Apple Hospitality REIT have returned -2% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Apple Hospitality REIT, Inc. (APLE) - free report >>

Published in