Wyndham Earnings Beat Wall Street Estimates

Published: Thursday, July 29, 2010, 6:30 AM

After releasing its earnings report, Wyndham Worldwide provided more information during a conference call with Wall Street. Here is a synopsis of what the analysts heard:

BUSINESS: Wyndham Worldwide, which owns the Days Inn, Howard Johnson, Super 8 and Wyndham hotel and motel brands.

NEWS: The Parsippany hotel group last month agreed to buy the Tryp hotel brand from Sol Meli Hotels & Resorts for $43 million. That will give the company 92 mid-priced center city hotel locations in Europe and South America. Tryp by Wyndham plans an aggressive growth strategy for North America.

PROFIT: Net income soared 34 percent to $95 million. The company raised it 2010 earnings forecast to $1.78 to $1.88 a share. That is up from the previous forecast of $1.56 to $1.71.

SALES: Revenue in the second quarter rose to $963 million, up 5 percent. Sales for the year are expected to hit $3.7 billion to $4 billion, revised upward from a previous estimate of $3.6 billion to $3.9 billion.

HIT OR MISS: Adjusted earnings per share was 51 cents, beating Wall Street estimates of between 38 cents and 42 cents. Adjusted EPS for the third quarter is forecast at 60 cents to 64 cents. Wall Street has been expecting 58 cents.

BOTTOM LINE: Earnings for the year are expected to range from $1.78 to $1.88 a share, up from a previous forecast of $1.56 to $1.71.

HEADLINE: Wyndham beats earnings estimates on better travel bookings, lower taxes and favorable foreign currency exchange.

QUOTE: “We now have additional capacity to repurchase our shares.” Stephen Holmes, chief executive.

Related posts:

  1. Wyndham Boosts 2q Revenue By 34 P.c PARSIPPANY, N.J. Wyndham Worldwide Corp. said Wednesday that its second-quarter...
  2. Starwood Revenue Beats Estimates; Hotel Company Raises 2010 Revpar Forecast Starwood Hotels & Resorts Worldwide Inc., owner of luxury brands...
  3. Starwood Inns Earnings Preview New York, July 21st (TradersHuddle.com) – Shares of Starwood Hotels...
  4. Continental Caps A Gusher Of Nice Information For Airlines Continental Airlines announced second quarter earnings of $233 million this...
  5. Earnings Preview: Marriott International By ASHLEY M. HEHER CHICAGO Hotel operator Marriott International Inc....

No Comments »

RSS feed for comments on this post. TrackBack URL


Leave a Reply

You must be logged in to post a comment.