Choice Hotels Q3 Adj. Profit Rises

(RTTNews) - Choice Hotels International, Inc. (CHH) reported third quarter net income of $92.0 million or $1.81 per share, 11% and 2% lower, respectively, compared to the same period of 2022. Adjusted net income increased 6% to $92.4 million, and adjusted EPS increased 17% to $1.82. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $1.86, for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $425.6 million for third quarter 2023, a 3% increase compared to the same period of 2022. Total revenues, excluding reimbursable revenue from franchised and managed properties, increased 9% to $219.6 million. Analysts on average had estimated $431.9 million in revenue.

For 2023, the company projects adjusted EPS in a range of $5.95 - $6.03, revised from prior outlook range of $5.86 - $6.01.

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