Why Are Hyatt Hotels Shares Falling Today?
Portfolio Pulse from Lekha Gupta
Hyatt Hotels Corp's Q3 FY23 results have led to a 4% drop in its shares. The company reported sales of $1.62 billion, missing the analyst consensus of $1.64 billion. Adjusted EBITDA declined to $247 million from $252 million last year. Hyatt also lowered its FY23 outlook for net income, Adjusted EBITDA, and capital expenditure. However, the company is on track to double its brand footprint in Canada by the end of 2026.
November 02, 2023 | 3:20 pm
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NEGATIVE IMPACT
Hyatt's shares have fallen due to lower than expected Q3 FY23 results and a lowered FY23 outlook. However, the company's plans to expand in Canada could potentially offset these negative impacts.
Hyatt's shares have fallen due to its Q3 FY23 results missing analyst expectations and a lowered FY23 outlook. This indicates a negative short-term impact on the company's stock. However, the company's plans to double its brand footprint in Canada by the end of 2026 could potentially offset these negative impacts in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100