DiamondRock Hospitality (DRH) Beats Q2 FFO and Revenue Estimates

Group 1 - DiamondRock Hospitality (DRH) reported quarterly funds from operations (FFO) of $0.34 per share, exceeding the Zacks Consensus Estimate of $0.32 per share, and up from $0.32 per share a year ago [1][2] - The quarterly FFO surprise was 6.25%, and the company has surpassed consensus FFO estimates three times in the last four quarters [2] - The company posted revenues of $309.28 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.62%, compared to $291.25 million in the same quarter last year [3] Group 2 - The stock has underperformed, losing about 12.4% since the beginning of the year, while the S&P 500 gained 15.8% [4] - The current consensus FFO estimate for the upcoming quarter is $0.27 on revenues of $289.55 million, and for the current fiscal year, it is $0.98 on revenues of $1.12 billion [8] - The Zacks Industry Rank for REIT and Equity Trust - Other is in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [9]