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Playa Hotels & Resorts reports Q3 adjusted EPS 0c, consensus (17c)
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Playa Hotels & Resorts reports Q3 adjusted EPS 0c, consensus (17c)

Reports Q3 revenue $183.52M, consensus $176.49M. CEO Bruce Wardinski said, “Improving demand in Jamaica and the Pacific Coast, combined with continued execution in the Yucatan and Dominican Republic, resulted in our Q3 Owned Resort EBITDA and Adjusted EBITDA exceeding our expectations despite the ongoing headwinds experienced in Jamaica and the significant disruption caused by Hurricane Beryl…On the capital allocation and portfolio optimization front, we are progressing nicely on the planned renovation work, with the renovations in Los Cabos nearing completion in the coming months. We remain committed to using our free cash flow generation to repurchase our shares as we expect a strong recovery in profits following the completion of our capital projects. We repurchased over $50M worth of our shares during the third quarter and have subsequently purchased roughly $25M in October, bringing our year-to-date total to over $140 million through the first ten months of 2024. We now expect our FY 2024 Adjusted EBITDA to be $250M-$255M, reflecting the improving demand in Jamaica and a more favorable FX outlook.”

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