Hyatt Hotels Q4 Profit Up, Tops View; Sees Weak FY20 Profit; Stock Dips

(RTTNews) - Hyatt Hotels Corp. (H), a hospitality company, reported that fourth-quarter net income attributable surged 621.5 percent to $321 million or $3.08 per share from last year's $44 million or $0.40 per share.

Adjusted net income attributable to Hyatt was $49 million or $0.47 per share, compared to $69 million or $0.62 per share a year ago.

On average, 16 analysts polled by Thomson Reuters expected earnings of $0.25 per share. Analysts' estimates typically exclude special items.

Adjusted EBITDA increased 5.3 percent to $191 million.

Comparable system-wide RevPAR decreased 0.5 percent.

Looking ahead for fiscal 2020, the company expects net income to be approximately $113 million to $144 million, adjusted EBITDA to be approximately $760 million to $780 million, and comparable system-wide RevPAR growth to be in the range of negative 0.5 percent to positive 1.5 percent, as compared to fiscal year 2019.

In fiscal 2019, net income was $766 million, adjusted EBITDA was $754 million, and comparable system-wide RevPAR growth was 0.7 percent.

Further, the company expects to return approximately $400 million to shareholders through a combination of cash dividends on its common stock and share repurchases.

The 2020 outlook does not include the impact of the current outbreak of the coronavirus (COVID-19).

In the after hours trading, Hyatt shares were trading at $87.20, down 3.05 percent.