Hilton Stock Is Jumping Post Q1 Results - Here's Why
Portfolio Pulse from Shivani Kumaresan
Hilton Worldwide Holdings Inc (NYSE:HLT) reported a 12.2% year-on-year increase in Q1 FY24 sales to $2.573 billion, surpassing analyst expectations. The company saw growth in franchise and licensing fees and owned and leased hotels revenue, with a system-wide occupancy rate of 67.2%. Adjusted EBITDA rose 17% to $750 million, and adjusted EPS of $1.53 beat consensus estimates. Hilton raised its FY24 adjusted EPS outlook and expects a 2%-4% increase in system-wide comparable RevPAR. HLT shares surged 4.41% in premarket trading.
April 24, 2024 | 12:14 pm
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Hilton Worldwide Holdings Inc reported strong Q1 FY24 results with sales and adjusted EPS exceeding expectations, leading to a raised FY24 outlook and a premarket stock price surge of 4.41%.
The positive earnings report and raised FY24 outlook indicate strong operational performance and future growth prospects for Hilton, likely leading to increased investor confidence and a short-term positive impact on HLT's stock price.
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