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Extended Stay America: 1Q Earnings Snapshot

CHARLOTTE, N.C. (AP) _ Extended Stay America Inc. (STAY) on Wednesday reported first-quarter earnings of $21.9 million.

The Charlotte, North Carolina-based company said it had net income of 12 cents per share. Earnings, adjusted for non-recurring costs, came to 16 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The hotel operator posted revenue of $277.7 million in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $272.9 million.

Extended Stay America expects full-year earnings in the range of $1.02 to $1.14 per share, with revenue in the range of $1.23 billion to $1.25 billion.

Extended Stay America shares have risen 16% since the beginning of the year. The stock has dropped 6.5% 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 STAY at https://www.zacks.com/ap/STAY