Hilton Worldwide Q3 Profit Rises; Lifts FY Profit View

(RTTNews) - Hilton Worldwide Holdings Inc. (HLT) reported that its net income attributable to stockholders for the third-quarter rose to $288 million from $162 million last year.

Earnings per share was $1.00 for the third quarter, an 85 percent increase from the same period in 2018, and earnings per share, adjusted for special items, was $1.05, a 13 percent increase from the same period in 2018.

Total revenues for the quarter grew to $2.40 billion from $2.25 billion in the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.02 per share and revenues of $2.39 billion for the quarter. Analysts' estimates typically exclude special items.

System-wide comparable RevPAR increased 0.4 percent on a currency neutral basis for the third quarter from the same period in 2018.

For the fourth-quarter, the company expects earnings per share, before special items, to be in the range of $0.74 - $0.79, earnings per share, adjusted for special items, of $0.91 - $0.96, and net income of $213 million - $227 million. Analysts expect annual earnings of $0.99 per share for the fourth-quarter.

System-wide comparable RevPAR is expected to be roughly flat on a currency neutral basis compared to the fourth quarter of 2018.

Full Year 2019, the company now projects earnings per share, before special items, to be in the range of $3.16 - $3.21, earnings per share, adjusted for special items, of $3.81 - $3.86 and net income of $923 million and $937 million. Analysts expect annual earnings of $3.87 per share.

The company said in July that it expected earnings per share, before special items, to be in the range of $3.02 - $3.09, and earnings per share, adjusted for special items, of $3.78 - $3.85, and net income of $887 million - $909 million for fiscal year 2019.

System-wide comparable RevPAR is expected to increase about 1.0 percent on a currency neutral basis compared to 2018.