RLJ Lodging Q1 RevPAR up 27%, net income $10.5M, dividend raised 60%

RLJ Lodging Trust

2023-Q1 EPS reported $0.03 revenue$314,503,000

Q1 comparable RevPAR $136.45 (+27.0% YoY), occupancy 68.5% vs 61.1%, ADR $199.07 (+13.2%).
Net income of $10.5M ($0.03 diluted EPS); Adjusted FFO per share $0.35, up from $0.14.
Total revenue $314.5M; Comparable Hotel EBITDA $90.9M, margin 28.9% vs 26.1%.
Repurchased 3.9M common shares for ~$40M at avg $10.22; new $250M buyback program approved.
Q2 2023 outlook: RevPAR $155-$159, Adjusted FFO per share $0.51-$0.57.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RLJ Lodging Trust reported the three months ended March 31, 2023 results: revenue $314.5 million, net income $10.5 million, EPS $0.03.

Period: the three months ended March 31, 2023
Revenue: $314.5 million
Net income: $10.5 million
EPS: $0.03
Result: reported results

Exact text from the filing

RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today reported results for the three months ended March 31, 2023. First Quarter And Year To Date Highlights • Portfolio Comparable RevPAR of $136.45, an increase of 27.0% from Q1 2022 and achieved 95% of the comparable period in 2019 • Total revenue of $314.5 million • Net income of $10.5 million • Net income per diluted share attributable to common shareholders of $0.03 • Comparable Hotel EBITDA of $90.9 million • Adjusted EBITDA of $82.7 million • Adjusted FFO per diluted common share and unit of $0.35

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RLJ Lodging Trust updated its Q2 2023 guidance (initiated).

Period: Q2 2023
Guidance: initiated
Result: guidance update

Exact text from the filing

Based on current trends and assuming no materials disruptions to travel caused by pandemics or worsening macro-economic conditions, the Company's second quarter 2023 is as follows: Q2 2023 Comparable RevPAR $155.00 to $159.00 Comparable Hotel EBITDA $121.0M to $130.0.M Adjusted EBITDA $112.0M to $121.0M Adjusted FFO per diluted share $0.51 to $0.57

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Source: SEC EDGAR

accession 0001511337-23-000011

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