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Apple Hospitality REIT (APLE) Reports Q3 Earnings: What Key Metrics Have to Say

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Apple Hospitality REIT (APLE - Free Report) reported $358.26 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 5%. EPS of $0.45 for the same period compares to $0.26 a year ago.

The reported revenue represents a surprise of +1.33% over the Zacks Consensus Estimate of $353.57 million. With the consensus EPS estimate being $0.45, 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.

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: $327.12 million versus $324.52 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +3.5% change.
  • Revenues- Food and beverage: $13.58 million versus the two-analyst average estimate of $15.35 million. The reported number represents a year-over-year change of +14.4%.
  • Revenues- Other: $17.56 million versus $14.95 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +31.7% change.
  • Net Earnings Per Share (Diluted): $0.26 versus the three-analyst average estimate of $0.24.
View all Key Company Metrics for Apple Hospitality REIT here>>>

Shares of Apple Hospitality REIT have returned +11.1% 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.

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