CHARLOTTE, N.C. (AP) _ Extended Stay America Inc. (STAY) on Wednesday reported a loss of $46.8 million in its fourth quarter.
On a per-share basis, the Charlotte, North Carolina-based company said it had a loss of 26 cents. Earnings, adjusted for non-recurring costs, were 14 cents per share.
The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 14 cents per share.
The hotel operator posted revenue of $272.4 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $275 million.
For the year, the company reported profit of $69.7 million, or 37 cents per share. Revenue was reported as $1.22 billion.
Extended Stay America expects full-year earnings in the range of $1.68 to $1.77 per share, with revenue in the range of $1.23 billion to $1.25 billion.
Extended Stay America shares have dropped 25% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.19, a decrease of 38% in the last 12 months.