Summit Hotel Properties (INN) Reports Q2 Earnings: What Key Metrics Have to Say
Summit Hotel Properties (INN) reported $194.49 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 6.1%. EPS of $0.27 for the same period compares to $0.07 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $190.84 million, representing a surprise of +1.91%. The company delivered an EPS surprise of +28.57%, with the consensus EPS estimate being $0.21.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Summit Hotel Properties performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Room: $174.18 million versus $183.61 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.4% change.
Revenues- Food and beverage: $10.27 million versus $9.09 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +34% change.
Revenues- Other: $10.04 million versus $9.98 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change.
Net Earnings Per Share (Diluted): -$0.01 compared to the $0.09 average estimate based on two analysts.
View all Key Company Metrics for Summit Hotel Properties here>>>
Shares of Summit Hotel Properties have returned -5.5% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Summit Hotel Properties, Inc. (INN) : Free Stock Analysis Report
