Choice Hotels International Q1 Earnings Falls, Misses Estimates

Choice Hotels International Inc. (CHH) reported a fall in first-quarter earnings due to the pandemic situation, compared to the prior year and quarterly earnings missed analysts estimates.

The company reported first-quarter net profit of $22.34 million from $55.46 million a year ago. On a per-share basis, earnings declined to $0.40 from $0.99 in the prior year. On an adjusted basis, earnings were $0.57.

On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.60 per share. Analysts' estimates usually exclude special items.

One of the largest lodging franchisors in the world reported quarterly revenue of $182.95 million, down from $218.18 million in the previous year. Analysts were looking for $200.84 million.

The company has not provided formal guidance for the second quarter or full year 2021 given that the precise impact of COVID-19 on its future results is still unknown.

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