Hilton Worldwide shares climb after lifting guidance for the year

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Hilton Worldwide Holdings Inc. shares HLT, +5.21% jumped 4% premarket Wednesday, after the hotel chain blew past estimates for the second quarter. The company posted net income of $368 million, or $1.32 a share, for the period, up from $130 million, or 46 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.29, well ahead of the $1.05 FactSet consensus. Revenue rose to $2.240 billion from $1.329 billion a year ago, also ahead of the $2.110 billion FactSet consensus. The net income figure exceeded the company’s guidance, as system-wide comparable REVpar, or revenue per average room, rose 54.3% on a currency neutral basis. “Given our strong results in the quarter, coupled with our confidence in continued recovery throughout the year, we are raising our full year guidance, including our outlook for capital return,” CEO Christopher J. Nassetta said in a statement. Hilton is now expecting full-year adjusted EPS of $4.21 to $4.46, compared with a FactSet consensus of $4.03. For the third quarter, it expects adjusted EPS of $1.16 to $1.24, compared with a FactSet consensus of $1.15. Shares have fallen 23% in the year to date, while the S&P 500 SPX, +0.93% has fallen 18%.

This article was originally published by Marketwatch.com. Read the original article here.

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