Starwood Hotels Q1 Results Top View - Quick Facts

(RTTNews) - Starwood Hotels & Resorts Worldwide Inc. (HOT) said first-quarter net income attributable to the company fell to $137 million or $0.72 per share from $213 million and $1.09 per share in the first quarter of 2013.

Earnings per share from continuing operations slipped to $0.71 from $0.73. The latest results included special items that totaled a benefit of $14 million. Special items in the first quarter of 2013 totaled a charge of $5 million.

Excluding special items, earnings per share from continuing operations was $0.63, while it totaled $0.76 last year.

On average, 27 analysts polled by Thomson Reuters expected earnings of $0.56 per share. Analysts estimates typically exclude special items.

Revenues declined to $1.458 billion from $1.539 billion in the prior year. Analysts expected revenues of $1.45 billion.

Worldwide Systemwide REVenue Per Available Room or REVPAR for Same-Store Hotels increased 6.3 percent in constant dollars and 5 percent in actual dollars.

Systemwide REVPAR for Same-Store Hotels in North America increased 7.1 percent in constant dollars and 6.4 percent in actual dollars.

For the second quarter, earnings per share are expected to be $0.72 to $0.76. Analysts expect $0.76 per share.

For fiscal 2014, earnings per share before special items is expected to be approximately $2.76 to $2.83. Wall Street looks for $2.79 per share.

In February, the company expected adjusted earnings in the range of $2.69 to $2.78 per share.