Park Hotels & Resorts: Q1 Earnings Snapshot

TYSONS, Va. (AP) _ Park Hotels & Resorts Inc. (PK) on Monday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.

The Tysons, Virginia-based real estate investment trust said it had funds from operations of $18 million, or 8 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for a funds from operations loss of 1 cent per share.

...

READ MORE

TYSONS, Va. (AP) _ Park Hotels & Resorts Inc. (PK) on Monday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.

The Tysons, Virginia-based real estate investment trust said it had funds from operations of $18 million, or 8 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for a funds from operations loss of 1 cent per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $57 million, or 24 cents per share.

Park Hotels & Resorts, based in Tysons, Virginia, posted revenue of $479 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $416.7 million.

For the current quarter ending in July, Park Hotels & Resorts expects its per-share funds from operations to range from 40 cents to 49 cents.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PK at https://www.zacks.com/ap/PK

Copyright © 2022 . All rights reserved. This website is not intended for users located within the European Economic Area.