DiamondRock Hospitality (DRH) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - DiamondRock Hospitality (DRH) reported revenue of $309.28 million for the quarter ended June 2024, marking a year-over-year increase of 6.2% and exceeding the Zacks Consensus Estimate of $301.38 million by 2.62% [1] - The company achieved an EPS of $0.34, compared to $0.17 a year ago, with an EPS surprise of 6.25% against the consensus estimate of $0.32 [1] Revenue Breakdown - Revenues from Rooms totaled $203.49 million, slightly below the estimated $204.55 million, reflecting a year-over-year increase of 3.1% [3] - Revenues from Other sources reached $27.68 million, surpassing the estimated $26.31 million, with an 8.3% year-over-year increase [4] - Food and Beverage revenues amounted to $78.11 million, exceeding the average estimate of $70.63 million, representing a significant year-over-year growth of 14.3% [5] Earnings Performance - The diluted net earnings per share were reported at $0.10, which is below the three-analyst average estimate of $0.19 [6] - Over the past month, shares of DiamondRock Hospitality have returned -0.2%, while the Zacks S&P 500 composite has increased by 1.1% [6] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [6]