logo
Share SHARE
FONT-SIZE Plus   Neg

Wyndham Worldwide Q1 Profit Falls But Adjusted Earnings Tops Street

Hospitality services and products provider Wyndham Worldwide Corporation (WYN: Quote) Wednesday posted lower profit for the first quarter reflecting increased expenses. However, adjusted earnings surpassed the Street estimates.

For the three-month period, the company posted net income attributable to shareholders of $27 million versus prior-year earnings of $32 million. On a per share basis, earnings for the period fell to $0.19 from $0.21 last year.

On an adjusted basis, the firm posted earnings of $0.71 for the period. Nine analysts on average polled by Thomson Reuters estimated earnings per share of $0.67 for the quarter. Analysts estimates typically exclude one-time items.

Net revenue for the quarter climbed to $1.133 billion from $1.036 billion a year earlier and was in line with consensus estimate of $1.13 billion.

Early extinguishment of debt cost the company $111 million this year as opposed to $ 106 million last year.

Looking forward, the company sees adjusted earnings per share of approximately $3.60 to $3.70 and revenue of approximately $4.925 to $5.100 billion for the full fiscal year. Analysts are currently looking for earnings of $3.67 on revenue of $4.95 billion.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
US Steel Corp. (X) Tuesday said it will "adjust operations" and temporarily idle a part of its Minntac plant in Mt. Iron, Minnesota, effective June 1. According to reports, the move would see about 700 employees laid off. The company said the decision was due to its current inventory levels and ongoing... Hewlett-Packard Co. (HPQ) has filed a lawsuit against Michael Lynch, the co-founder of Autonomy Corp., and its former Financial Chief Sushovan Hussain for a whopping $5.1 billion alleging that the executives misrepresented the financial situation of Autonomy. An HP's spokeswoman confirmed that the... Nine acres of green grass with 400 trees and a half-mile-long walk way. We are not talking about any park, but the expansive rooftop of Facebook's new office. The 430,000 square feet office is a single room and it might be the largest open floor plan in the world.
comments powered by Disqus
RELATED NEWS
Trade WYN now with 
Follow RTT