Choice Hotels: 1Q Earnings Snapshot
ROCKVILLE, Md. (AP) _ Choice Hotels International Inc. (CHH) on Monday reported first-quarter net income of $55.5 million.
On a per-share basis, the Rockville, Maryland-based company said it had profit of 99 cents. Earnings, adjusted for one-time gains and costs, were 76 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The hotel franchiser posted revenue of $218.2 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $198.6 million.
Choice Hotels shares have fallen 29% since the beginning of the year. The stock has fallen 13% in the last 12 months.