Ryman Hospitality Properties (RHP) Beats Q2 FFO and Revenue Estimates

Core Insights - Ryman Hospitality Properties (RHP) reported quarterly funds from operations (FFO) of $2.35 per share, exceeding the Zacks Consensus Estimate of $2.31 per share, but down from $2.78 per share a year ago [1] - The company achieved an FFO surprise of +1.73% for the quarter and has surpassed consensus FFO estimates three times in the last four quarters [2] - RHP's revenues for the quarter were $659.52 million, surpassing the Zacks Consensus Estimate by 7.39% and up from $613.29 million year-over-year, also topping consensus revenue estimates three times in the last four quarters [3] Financial Performance - The FFO for the previous quarter was expected to be $1.79 per share, but RHP delivered $2.08, resulting in a surprise of +16.2% [2] - The current consensus FFO estimate for the upcoming quarter is $1.83, with projected revenues of $584.91 million, and for the current fiscal year, the estimate is $8.31 on revenues of $2.48 billion [8] Market Position - RHP shares have underperformed the market, losing about 11% since the beginning of the year, while the S&P 500 has gained 6.1% [4] - The Zacks Industry Rank places the REIT and Equity Trust - Other sector in the top 38% of over 250 Zacks industries, indicating a favorable industry outlook [9] Future Outlook - The sustainability of RHP's stock price movement will depend on management's commentary during the earnings call and future FFO expectations [4] - The estimate revisions trend for RHP was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market [7]