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Braemar Hotels & Resorts Inc (BHR)
NYSE:BHR
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.41Last Year’s EPS
-$0.47Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: 9.83%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a generally positive sentiment driven by strong urban hotel performance, successful asset sale, and strategic refinancing, although tempered by a net loss and some operational challenges due to weather impacts.Company Guidance
During the Braemar Hotels & Resorts third quarter 2024 earnings call, key financial metrics were highlighted, including a comparable RevPAR of $261 and a comparable hotel EBITDA of $24.7 million, although the quarter reported a net loss attributable to common stockholders of $1.4 million or $0.02 per diluted share. Adjusted EBITDA for the quarter was $18.5 million. The company emphasized urban hotels' strong performance, with a 6% RevPAR growth over the prior year, while urban assets achieved a RevPAR of $213 and hotel EBITDA of $16.4 million. The capital position showed a total asset value of $2.2 billion with $1.2 billion in loans, of which 23% is effectively fixed and 77% floating, leading to a 7.6% blended average interest rate. The company announced a quarterly common stock dividend of $0.05 per share and ended the quarter with cash and cash equivalents of $168.7 million. The call also detailed the completion of significant refinancing activities, including a $407 million loan with a floating interest rate of SOFR plus 3.24%, and the redemption of approximately $50 million in nontraded preferred stock. The quarter witnessed a 1.6% decrease in comparable hotel RevPAR compared to the previous year, attributed to ongoing renovations and leisure demand normalization. Despite these challenges, urban assets continued to show strength, with 8% growth in total hotel revenue and a 4% increase in occupancy.Strong Urban Hotel Performance
Urban hotels showed impressive comparable RevPAR growth of 6% over the prior year quarter. Urban assets had a RevPAR of $213 and comparable hotel EBITDA of $16.4 million.
Successful Asset Sale
Sale of Hilton La Jolla Torrey Pines for $165 million, representing a 7.2% capitalization rate on net operating income for the trailing 12 months ended March 31, 2024.
Refinancing and Debt Management
Refinanced five hotels with a $407 million loan, improving maturity schedule and extending weighted average maturity. Addressed all 2024 debt maturities and working on 2025 maturity.
Group Revenue and Lead Generation
Group rooms revenue increased 14% year-over-year for the third quarter. Group pace for the first quarter of 2025 is up nearly 40%.
Positive October Performance
Comparable RevPAR for the portfolio increased 7.5% in October, with comparable total revenue growth of almost 11%.
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BHR 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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BHR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $2.95 | $3.12 | +5.76% |
| Jul 31, 2024 | $3.50 | $3.22 | -8.00% |
| May 08, 2024 | $2.50 | $2.62 | +4.80% |
| Feb 29, 2024 | $2.14 | $2.01 | -6.07% |
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 Braemar Hotels & Resorts Inc (BHR) report earnings?
Braemar Hotels & Resorts Inc (BHR) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Braemar Hotels & Resorts Inc (BHR) earnings time?
Braemar Hotels & Resorts Inc (BHR) earnings time is at Feb 26, 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 BHR EPS forecast?
BHR EPS forecast for the fiscal quarter 2024 (Q4) is -$0.41.
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