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Park Hotels & Resorts (PK) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2024, Park Hotels & Resorts (PK - Free Report) reported revenue of $649 million, down 4.4% over the same period last year. EPS came in at $0.49, compared to $0.13 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $654.98 million, representing a surprise of -0.91%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.49.
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 Park Hotels & Resorts performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Comparable RevPAR Growth: 3.3% versus the three-analyst average estimate of 3.2%.
- Occupancy Rate: 78.1% compared to the 76.1% average estimate based on two analysts.
- Revenues- Rooms: $403 million versus $405.21 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -6.7% change.
- Revenues- Ancillary hotel: $68 million versus the five-analyst average estimate of $62.97 million. The reported number represents a year-over-year change of +3%.
- Revenues- Food and beverage: $157 million versus the five-analyst average estimate of $160.33 million. The reported number represents a year-over-year change of -1.3%.
- Revenues- Other: $21 million versus $23.32 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -4.6% change.
- Earnings per share - Diluted: $0.26 versus $0.15 estimated by six analysts on average.
View all Key Company Metrics for Park Hotels & Resorts here>>>Shares of Park Hotels & Resorts have returned -1% over the past month versus the Zacks S&P 500 composite's +1.7% 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.