Choice Hotels: 3Q Earnings Snapshot
ROCKVILLE, Md. (AP) _ Choice Hotels International Inc. (CHH) on Tuesday reported third-quarter profit of $76.2 million.
The Rockville, Maryland-based company said it had profit of $1.36 per share. Earnings, adjusted for non-recurring costs, came to $1.37 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.
The hotel franchiser posted revenue of $310.7 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $307 million.
Choice Hotels expects full-year earnings to be $4.24 per share.
Choice Hotels shares have risen 25% since the beginning of the year. The stock has increased 18% in the last 12 months.