LONDON, UK / ACCESSWIRE / April 09, 2018 / Active-Investors.com has just released a free earnings report on DiamondRock Hospitality Co. (NYSE: DRH) ("DiamondRock"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DRH. The Company released its financial results on February 26, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's total revenues and adjusted FFO per share growth beat market expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, DiamondRock Hospitality most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
DiamondRock reported total revenues of $207.04 million, which grew 0.2% from $206.62 million in Q4 FY16. The Company's total revenue numbers for the reported quarter beat market consensus estimates of $203.5 million. During the reported quarter, the Company's room revenues grew to $152.63 million from $151.91 million in the year ago same quarter. The Company's food and beverage revenues fell marginally to $42.86 million in Q4 FY17 from $42.91 million in Q4 FY16. Furthermore, the Company's other revenues were $11.55 million compared to $11.81 million in Q4 FY16.
The hotel and resort real estate investment trust reported a net income of $24.77 million, or $0.12 per diluted share, in Q4 FY17 compared to $23.91 million, or $0.12 per diluted share, in the previous year's corresponding quarter. Meanwhile, the Company's adjusted funds from operations (AFFO) increased to $50.71 million, or $0.25 per diluted share, in Q4 FY17 from $48.35 million, or $0.24 per diluted share, in Q4 FY16. Moreover, Wall Street had expected the Company to report AFFO of $0.23 per diluted share.
The Bethesda, Maryland-based Company's total revenues was $870.01 million for the full year FY17 compared to $896.56 million in FY16. The Company posted a net income of $91.86 million, or $0.46 per diluted share, in FY17 compared to $114.80 million, or $0.57 per diluted share, in FY16. Additionally, the Company's AFFO came in at $200.96 million, or $1.00 per diluted share, in FY17 versus $206.34 million, or $1.02 per diluted share, in FY18.
For Q4 FY17, the Company's room expenses were $38.12 million versus $37.41 million in the last year's comparable quarter. The Company's food and beverage expenses were $27.14 million in Q4 FY17 compared to $28.20 million in Q4 FY16. The Company's total operating costs and expenses increased to $171.52 million in Q4 FY17 from $172.87 million in Q4 FY16. The Company's operating profit was $35.52 million in the reported quarter compared to $33.75 million in Q4 FY16.
The Company's comparable revenue per available room (RevPAR) increased 3.8% to $184.24 y-o-y in Q4 FY17 from $177.45 in the prior year's same quarter. The occupancy rate was 77.8% in Q4 FY17 compared to 76.1% in Q4 FY16. DiamondRock's comparable average daily rate (ADR) increased 1.7% to $236.95 in Q4 FY17 from $233.04 in Q4 FY16. Furthermore, the Company's comparable hotel adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) margin came in at 31.22% of revenues in Q4 FY17 compared to 31.99% of revenues in Q4 FY16.
Cash Flow and Balance Sheet
In FY17, the Company's net cash provided by operating activities was $204.53 million compared to $215.58 million in FY16. DiamondRock had cash and cash equivalents worth $183.57 million at the close of its books on December 31, 2017, compared to $243.10 million as on December 31, 2016. The Company reported a total debt balance of $937.79 million as on December 31, 2017, compared to $920.54 million as on December 31, 2016.
In a separate press release on March 19, 2018, DiamondRock's Board of Directors declared a quarterly dividend of $0.125 per share, to stockholders of record as of March 29, 2018. The dividend will be paid on April 12, 2018.
In its outlook for the full year FY18, the Company has forecasted comparable RevPAR growth to be in the range of 0% to 2%. The Company's adjusted EBITDA is anticipated to be in the band of $244 million to $256 million for the year ending December 31, 2018. The Company's AFFO is expected to be between $194 million, or $0.96 per diluted share, and $204 million, or $1.01 per diluted share, for FY18.
Stock Performance Snapshot
April 06, 2018 - At Friday's closing bell, DiamondRock Hospitality's stock slightly advanced 0.29%, ending the trading session at $10.54.
Volume traded for the day: 2.79 million shares, which was above the 3-month average volume of 2.19 million shares.
Stock performance in the last month – up 0.09%
After last Friday's close, DiamondRock Hospitality's market cap was at $2.15 billion.
Price to Earnings (P/E) ratio was at 24.23.
The stock has a dividend yield of 4.74%.
The stock is part of the Financial sector, categorized under the REIT - Hotel/Motel industry.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.