PARSIPPANY, N.J. (AP) _ Wyndham Hotels & Resorts Inc. (WH) on Monday reported first-quarter earnings of $22 million.
The Parsippany, New Jersey-based company said it had net income of 23 cents per share. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, came to 50 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The hotel and resort chain posted revenue of $410 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $369.6 million.
Wyndham shares have dropped 43% since the beginning of the year. In the final minutes of trading on Monday, shares hit $35.82, a drop of 37% in the last 12 months.