Hilton Worldwide Holdings Inc.’s stock
HLT,
fell 2.2% early Wednesday, after the hotel operator’s fourth-quarter revenue only managed to match consensus and its guidance for 2024 came up short. The company posted net income of $148 million, or 57 cents a share, for the quarter, down from $328 million, or $1.21 a share, in the year-earlier period. Adjusted per-share earnings came to $1.68, ahead of the $1.57 FactSet consensus. Revenue rose to $2.609 billion from $2.444 billion a year ago, matching the FactSet consensus. Systemwide revenue per available room rose 5.7% on a currency-neutral basis and was up 13.5% compared to the same period i 2019, before the onset of the COVID-19 pandemic. “Positive momentum in openings continued throughout the year, with more openings in the fourth quarter than any other quarter in the company’s history,’ CEO Christopher J. Nassetta said in a statement. Hilton is now expecting systemwide RevPAR to climbed 2% to 4% for all of 2024 on a currency neutral basis. It expect EPS to range from $6.57 to $6.71 and for adjusted EPS to range from $6.80 to $6.94. The FactSet consensus is for EPS of $7.05. For the first quarter, it expects adjusted EPS of $1.36 to $1.44, while FactSet is expecting $1.42. The stock has gained 31.3% in the last 12 months, while the S&P 500
SPX,
has gained 19%.
