Hilton Stock Slides After Q2 Results On Soft Guidance - Details Here
Portfolio Pulse from Nabaparna Bhattacharya
Hilton Worldwide Holdings Inc. (NYSE: HLT) shares are trading lower after the company reported Q2 results that beat earnings and revenue estimates but provided soft guidance for FY24 and Q3. The company reported adjusted EPS of $1.91 and revenues of $2.951 billion, both surpassing analyst expectations. Despite positive growth metrics, including a 3.5% increase in RevPAR and a 15% growth in its development pipeline, the forecasted EPS for FY24 and Q3 fell short of estimates, leading to a 0.77% decline in stock price.
August 07, 2024 | 4:28 pm
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Hilton Worldwide Holdings Inc. reported Q2 results that beat earnings and revenue estimates but provided soft guidance for FY24 and Q3. The company reported adjusted EPS of $1.91 and revenues of $2.951 billion, both surpassing analyst expectations. Despite positive growth metrics, including a 3.5% increase in RevPAR and a 15% growth in its development pipeline, the forecasted EPS for FY24 and Q3 fell short of estimates, leading to a 0.77% decline in stock price.
Despite beating Q2 earnings and revenue estimates, Hilton's guidance for FY24 and Q3 fell short of analyst expectations. This has led to a negative market reaction, with the stock price declining by 0.77%. Investors are likely concerned about the company's future earnings potential, which is reflected in the lower guidance.
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