FelCor Lodging Trust Q3 Profit Tops Estimates; Lifts 2014 RevPAR, EBITDA Outlook

(RTTNews) - FelCor Lodging Trust Incorporated (FCH) reported third-quarter net income attributable to stockholders of $62.71 million or $0.50 per share, compared to a loss of $6.45 million or $0.05 per share, last year. Adjusted FFO was $26.66 million or $0.21 per share, for the quarter.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.19 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased to $234.06 million from $230.43 million, a year ago. Analysts expected revenue of $233.44 million for the quarter.

The company has increased its 2014 RevPAR and EBITDA outlook, primarily reflecting better than expected third quarter results. During 2014, the company expects: RevPAR for same-store hotels will increase 9.25 - 9.5%, and RevPAR for comparable hotels (which excludes Wyndham hotels) will increase 8.0 - 8.25%; adjusted EBITDA will be $217.5 million - $219.5 million; and adjusted FFO per share will be $0.60 - $0.62. Analysts expect the company to report full year profit per share of $0.59.