Wyndham Worldwide Q1 Profit Beats Estimates; Raises Full Year EPS Guidance

(RTTNews) - Wyndham Worldwide Corporation (WYN) reported first-quarter net income of $90 million, or $0.69 per share, compared to $27 million, or $0.19 per share, prior year. The company said certain items unfavorably impacted its first quarter 2014 net income by $12 million and unfavorably impacted first quarter 2013 net income by $71 million. Adjusted net income was $102 million, or $0.78 per share, for the quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.75 for the quarter. Analysts' estimates typically exclude special items.

Net revenues were $1.19 billion, compared to $1.13 billion. Analysts expected revenue of $1.20 billion for the quarter. The company said the increase in revenue reflects growth in its lodging and vacation ownership business segments.

For the full year 2014, the company expects: revenues of approximately $5.250 billion-$5.350 billion; and adjusted earnings per share of approximately $4.23-$4.33. Analysts expect the company to report 2014 profit per share of $4.30 on revenue of $5.30 billion.