Hilton Matches Profit And Sales Outlook, Gives Downbeat Outlook

By Tomi KilgoreMarketsMarketWatch Pulse

Hilton Worldwide Holdings Inc. reported third-quarter earnings that fell to $187 million, or 19 cents a share, from $279 million, or 28 cents a share, from the same period a year ago. Excluding non-recurring items, the hotel operator said adjusted earnings per share came to 23 cents, matching the FactSet consensus. Revenue rose to $2.94 billion from $2.90 billion, also matching the FactSet consensus. Revenue per available room (RevPAR) increased 1.3%, excluding currency effects. Looking ahead, Hilton expects fourth-quarter adjusted EPS of 20 cents to 23 cents, below the FactSet consensus of 24 cents, with RevPAR expected to be flat to up 1%. The company is in the process of splitting into three independent, publicly-traded companies. The stock, which is still inactive in premarket trade, has climbed 6.2% year to date, while the S&P 500 has gained 4.9%.

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