Copyright 2019 Hubbard Radio Washington DC, LLC. All rights reserved. This website is not intended for users located within the European Economic Area.
ROCKVILLE, Md. (AP) _ Choice Hotels International Inc. (CHH) on Tuesday reported fourth-quarter net income of $42.2 million.
The Rockville, Maryland-based company said it had net income of 75 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, were 92 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The hotel franchiser posted revenue of $268.1 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $257.8 million.
For the year, the company reported profit of $222.9 million, or $3.98 per share. Revenue was reported as $1.11 billion.
Insight by Anomali: Find out how agencies sharing cyber efforts in this exclusive ebook.
Choice Hotels expects full-year earnings to be $4.27 per share.
Choice Hotels shares have increased 1% since the beginning of the year. The stock has increased 30% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHH at https://www.zacks.com/ap/CHH
Copyright © 2020 The Associated Press. All rights reserved. This website is not intended for users located within the European Economic Area.