Choice Hotels International Q1 Profit Declines, But Beats The Street

(RTTNews) - Choice Hotels International, Inc. (CHH) Tuesday reported lower profit in the first quarter, despite growth in revenues. However, the company's earnings as well as revenue beat the Street view.

As a result of one-time items, including Radisson Hotels Americas integration costs, and the timing of net reimbursable expenses net profit was down in the latest quarter, the company said.

Net profit in the first quarter was $52.82 million or $1.02 per share, lower than $67.39 million or $1.20 per share in the same quarter a year ago.

Excluding one-time items, earnings were $58.2 million or $1.12 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $1.01 per share. Analysts' estimates typically exclude special items.

Quarterly revenue increased 29% year-over-year to $332.79 million. The consensus estimate was for $315.69 million.

Looking forward, the company expects full-year earnings per share to be in the range of $5.70 - $5.90. Analysts expect earnings of $5.74 per share for the year.