Hyatt Hotels (NYSE:H) earnings for the hotel chain company’s second quarter of 2020 have H stock down after hours on Monday. This comes after reporting adjusted losses per share of $1.80, which is well below Wall Street’s estimate of -$1.34. Its revenue of $250 million also misses analysts’ estimates of $316.39 million.
Now, let’s take a closer look at the most recent Hyatt Hotels earnings report below.
- Adjusted per-share losses are a massive decline compared to its adjusted EPS of 76 cents in Q2 2019.
- Revenue for the quarter comes in 80.6% lower than the $1.29 billion reported in the same period of the year prior.
- The Hyatt Hotels earnings report also includes a net loss of $236 million.
- That’s a much worse result than the company’s net income of $86 million from the same time last year.
Mark Hoplamazian, president and CEO of Hyatt Hotels, said the following in the earnings report.
“During these unprecedented times, we are unwavering in our commitment to living our purpose to care for our colleagues, guests, owners and communities across the globe. Our purpose guides us to focus on health and safety and to drive policies and programs that create opportunity for all as we reimagine how we operate during the COVID-19 pandemic.”
Hyatt Hotels doesn’t discuss guidance in its current earnings report. That makes sense with the novel coronavirus interrupting the travel industry. Many other companies are withholding outlooks during the pandemic.
H stock was down slightly after markets closed on Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/08/hyatt-hotels-earnings-miss-estimates/.
©2020 InvestorPlace Media, LLC
Written by William White.
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