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Membership Collective: Q1 Earnings Snapshot

May 18, 2022 GMT

LONDON (AP) _ Membership Collective Group Inc. (MCG) on Wednesday reported a loss of $60.5 million in its first quarter.

The London-based company said it had a loss of 30 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.

The operator of members-only luxury hotels and clubs under the Soho House brand posted revenue of $192 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $203.8 million.

Membership Collective expects full-year revenue in the range of $950 million to $1.02 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCG at https://www.zacks.com/ap/MCG