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Pebblebrook Hotel (PEB)
NYSE:PEB
Earnings Data
Report Date
Apr 29, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.39Last Year’s EPS
-0.32Same Quarter Last Year
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 26, 2025
|% Change Since: 4.43%
|Next Earnings Date:Apr 29, 2025
Earnings Call Sentiment|Neutral
The call highlighted strong performance in resorts and redeveloped properties, improved financial metrics, and reduced leverage. However, it also noted challenges from natural disasters, headwinds in key urban markets, and costs from new labor agreements, leading to a mixed outlook for certain regions.Company Guidance
During the Pebblebrook Hotel Trust fourth-quarter earnings call, the company reported a significant outperformance against its 2024 outlook, driven by a 2.1% increase in same-property total RevPAR and a 0.8% rise in adjusted EBITDA to $352 to $359.2 million, exceeding the midpoint by $11.2 million. Adjusted FFO per diluted share grew by 5% to $1.68. The fourth quarter saw a 1.8% increase in same-property total RevPAR, with a notable 4% growth at resorts and a 0.7% increase at urban hotels, despite a 190 basis point impact from storms and renovations. Resort occupancy rose 3.7% to 65%, and weekday occupancy surged by 4.4 points, propelled by a 15% increase in business group demand. California resorts showed significant strength, with an 8.8% climb in RevPAR. The company's redeveloped properties delivered strong results, with a 3.8% increase in RevPAR for Q4 and a projected 11.3% surge for the year. For 2025, Pebblebrook anticipates industry RevPAR growth of 1 to 3%, with continued focus on operational efficiencies and cost controls, expecting a 3.1% growth in hotel expenses, adjusted for previous tax credits. The company plans a capital investment of $65 to $75 million, with potential redevelopment of the Paradise Point Resort in San Diego. Additionally, Pebblebrook successfully executed $1.6 billion in debt refinancing and extensions, ending 2024 with a reduced net debt to EBITDA ratio of 5.8 times.Strong Resort Performance
Resort occupancy increased by 3.7% to 65%, with RevPAR climbing 8.8% at California resorts. This was driven by a 15% increase in business group demand and a 7% growth in food and beverage revenue.
Positive Financial Metrics
Adjusted EBITDA rose 0.8% to $352-$359.2 million, exceeding the midpoint of the outlook by $11.2 million. Adjusted FFO per diluted share grew 5% to $1.68, surpassing the outlook midpoint by $0.09.
RevPAR Growth Despite Challenges
For the full year, same-property total RevPAR increased 2.1%, with a 3.7% potential increase in Q4 excluding storm disruptions.
Strong Performance of Redeveloped Properties
Redeveloped properties saw a 10.7-point occupancy gain, an 11.3% RevPAR surge, and EBITDA growth of over 20%, with a 1,100 basis point market share gain.
Reduced Leverage
Net debt to EBITDA reduced to 5.8 times from 6.5 times in 2023, supported by strong operating performance and free cash flow.
Successful Capital Investments
Completed $91 million in capital investments in 2024, with early returns being extremely encouraging. Projected capital investments for 2025 are reduced to $65-$75 million.
Improved Urban Hotel Performance
Urban occupancy rose 2.9 percentage points to 68.1%, with solid growth in business group and transient demand.
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PEB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PEB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 26, 2025 | $11.75 | $12.26 | +4.34% |
| Nov 07, 2024 | $13.25 | $12.94 | -2.34% |
| Jul 24, 2024 | $13.48 | $13.60 | +0.89% |
| Apr 23, 2024 | $15.42 | $15.56 | +0.91% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Pebblebrook Hotel (PEB) report earnings?
Pebblebrook Hotel (PEB) is schdueled to report earning on Apr 29, 2025, TBA Not Confirmed.
What is Pebblebrook Hotel (PEB) earnings time?
Pebblebrook Hotel (PEB) earnings time is at Apr 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PEB EPS forecast?
PEB EPS forecast for the fiscal quarter 2025 (Q1) is -0.39.
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