NASDAQ$LUXH
Luxurban Hotels Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported record second quarter financial results with net rental revenue increase and improved EBITDA and cash net income.
LuxUrban Hotels Inc. reported a net rental revenue increase to $31.9 million, EBITDA improved to $8.4 million, and cash net income rose to $7.2 million for Q2 2023. The company's net loss of $(26.8) million included $28.5 million of one-time, non-cash financing costs. The company significantly reduced its debt profile and expects a strong second half of the year.
- Net rental revenue rose to $31.9 million from $10.2 million.
- EBITDA improved to $8.4 million.
- Cash net income rose to $7.2 million.
- Shareholders’ equity of $13.5 million represented a $16.7 million improvement from December 31, 2022.
Headline financials
Revenue & EPS history
Luxurban · Revenue · Quarterly
$31.9M
Forward guidance
The Company is reiterating its guidance of net rental revenue of $115 to $120 million and EBIDTA of $25 to $30 million for the year ending December 31, 2023, and for the year ending December 31, 2024 the Company is reiterating net rental revenue and EBITDA guidance of $220 to $240 Million and $48 to $60 million, respectively. The Company also continues to expect that 2,500-3,000 total short-term stay hotel units will be operational by December 31, 2023.
Tailwinds
- Net rental revenue guidance of $115 to $120 million for 2023.
- EBITDA guidance of $25 to $30 million for 2023.
- Net rental revenue guidance of $220 to $240 million for 2024.
- EBITDA guidance of $48 to $60 million for 2024.
- Expects 2,500-3,000 total short-term stay hotel units will be operational by December 31, 2023.
Headwinds
- 2023 and 2024 guidance does not reflect any expected material positive contribution on net rental revenue and EBITDA generated by the commencement of operations at scheduled new properties.
- 2023 and 2024 guidance does not reflect any expected material positive contribution on net rental revenue and EBITDA generated by the collaboration with Wyndham Hotels & Resorts.
- Financial and operations guidance is based on beliefs and expectations regarding current business, economic, and public health conditions.
- Guidance is based on the status of the Company’s acquisition pipeline and its ability to enter into these potential leases.
- Guidance is based on the current view of forward-looking unit operating metrics.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 8 quarterly earnings reports · overlaid with Q2 2023
-3.9%
Avg return
Earnings day
-1.3%
Avg return
5 days after
-25.2%
Avg return
30 days after
50%
5 / 10 earnings
Positive
+11.8%
Q4 2022
Best reaction
-20.2%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2024 | -3.8% | +3.8% | -72.5% | |
| Q2 2024 | -17.2% | -2.7% | -48.5% | |
| Q1 2024 | -20.2% | -16.2% | -61.8% | |
| Q4 2023 | -20.2% | -16.2% | -61.8% | |
| Q3 2023 | +6.1% | -1.3% | +0.7% | |
| Q2 2023 | +1.0% | +0.7% | +12.7% | |
| Q4 2022 | +11.8% | +7.1% | +18.1% | |
| Q1 2023 | -2.9% | +14.6% | +11.7% | |
| Q3 2022 | +1.0% | — | — | |
| Q2 2022 | +5.1% | — | — | |
| Q1 2022 | — | — | — | |
| Q4 2021 | — | — | — | |
| Q3 2021 | — | — | — | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — |
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