Diamondrock Hospitality Q1 2024 FFO $0.17 Beats $0.16 Estimate, Sales $256.423M Beat $248.908M Estimate
Portfolio Pulse from Benzinga Newsdesk
Diamondrock Hospitality (NYSE:DRH) reported Q1 2024 FFO of $0.17 per share, surpassing the $0.16 estimate, and sales of $256.423M, exceeding the $248.908M estimate. This represents a 5.56% decrease in earnings and a 5.28% increase in sales from the same period last year.
May 02, 2024 | 9:05 pm
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Diamondrock Hospitality reported a Q1 2024 FFO of $0.17 per share, beating estimates, and sales of $256.423M, also above expectations. Earnings decreased by 5.56% YOY, while sales increased by 5.28%.
Beating both FFO and sales estimates for Q1 2024 indicates a positive performance for Diamondrock Hospitality, likely leading to a short-term positive impact on its stock price. The decrease in earnings YOY might temper some of the positive sentiment, but the increase in sales YOY and beating estimates are strong positive signals.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100