Park Hotels & Resorts(US:PK) ZACKSยท2024-10-30 00:06Core Insights - Park Hotels & Resorts reported a revenue of $649 million for the quarter ended September 2024, reflecting a decrease of 4.4% year-over-year [1] - The earnings per share (EPS) for the quarter was $0.49, a significant increase from $0.13 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $654.98 million, resulting in a surprise of -0.91% [1] - The company met the consensus EPS estimate of $0.49, indicating no surprise in earnings [1] Performance Metrics - Comparable RevPAR (Revenue per Available Room) growth was 3.3%, slightly above the three-analyst average estimate of 3.2% [3] - The occupancy rate reached 78.1%, surpassing the average estimate of 76.1% based on two analysts [3] - Room revenues totaled $403 million, which was below the estimated $405.21 million, marking a year-over-year decline of 6.7% [3] - Ancillary hotel revenues were reported at $68 million, exceeding the average estimate of $62.97 million, with a year-over-year increase of 3% [3] - Food and beverage revenues amounted to $157 million, slightly below the average estimate of $160.33 million, reflecting a year-over-year decrease of 1.3% [3] - Other revenues were reported at $21 million, below the estimated $23.32 million, representing a year-over-year decline of 4.6% [3] - Diluted earnings per share were $0.26, exceeding the average estimate of $0.15 [3] Stock Performance - Over the past month, shares of Park Hotels & Resorts have returned -1%, in contrast to the Zacks S&P 500 composite's +1.7% change [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]