Host Hotels & Resorts Inc. (HST) reported that its third-quarter net loss available to common stockholders was $57 million or $0.09 per share, compared to net income of $45 million or $0.09 per share in the same quarter last year. Net loss for the quarter was $58 million, compared to net income of $47 million for the third quarter of 2008.
Operating results for 2008 and 2009 were affected by an increase in non-cash interest expense related to the Company's exchangeable debentures, as well as non-cash impairment charges recorded in the first half of 2009, partially offset by gains associated with hotel dispositions. The net effect of these items on loss per share was an increase in earnings of $6 million, or $0.01 per share for both the third quarter of 2009 and 2008.
Funds from Operations for the quarter were $66 million or $0.11 per share, compared to $170 million or $0.31 per share for the third quarter of 2008. Analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share. Analysts' estimates typically exclude special items.
Total revenues for the quarter were $912 million, compared to $1.14 billion in the prior year quarter. Fourteen analysts had consensus revenue estimate of $889.38 million for the quarter.
The Company declared a special common dividend of $0.25 per share payable on December 18, 2009 to stockholders of record on November 6, 2009.
For fiscal 2009, the company now expects net loss to be about $250 million - $282 million or $0.42 - $0.47, compared to prior range of loss $267 million - $310 million or $0.46 - $0.53 per share.
The company now expects fiscal 2009 FFO to be about $0.46 - $0.51 per share, compared to prior outlook of $0.43 - $0.50 per share. Analysts expect the company to report earnings of $0.50 per share for fiscal 2009.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.