Summit Hotel Properties Q2 2024 FFO $0.29 Beats $0.27 Estimate, Sales $193.903M Miss $193.909M Estimate
Portfolio Pulse from Benzinga Newsdesk
Summit Hotel Properties (NYSE:INN) reported Q2 2024 earnings per share (EPS) of $0.29, beating the analyst estimate of $0.27. However, the company's sales of $193.903 million slightly missed the estimate of $193.909 million and showed a 0.30% decrease from the same period last year.
July 29, 2024 | 8:34 pm
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Summit Hotel Properties (NYSE:INN) reported Q2 2024 EPS of $0.29, beating the estimate of $0.27. Sales of $193.903 million missed the estimate of $193.909 million and decreased by 0.30% YoY.
The positive EPS surprise is likely to have a more significant short-term impact on the stock price than the slight miss in sales and the small YoY decrease. Investors often react more strongly to earnings beats.
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