NASDAQ$SVC
Service Properties Trust · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Announced third quarter 2020 results, reflecting the impact of the COVID-19 pandemic and strategic portfolio adjustments.
Service Properties Trust reported a net loss of $102.6 million for the third quarter of 2020, with Normalized FFO at $0.14 per share and Adjusted EBITDAre at $103.6 million, influenced by the COVID-19 pandemic and the termination of hotel management agreements with IHG and Marriott.
- Net loss for the quarter was $102.6 million, or $0.62 per common share.
- Normalized FFO was $23.2 million, or $0.14 per common share.
- Adjusted EBITDAre decreased 50.6% year over year to $103.6 million.
- Terminated hotel management agreements with IHG and Marriott due to non-payment of minimum returns.
Headline financials
Revenue & EPS history
Service Properties Trust · Revenue · Quarterly
$296M
Revenue by segment
Service Properties Trust · $96.8M total across 1 segment · Q3 2020
- Rental Income$96.8M—100.0%
Forward guidance
SVC anticipates completing $218.0 million in hotel sales and $0.8 million in net lease property sales by the end of the year, aiming to enhance financial flexibility, though these sales are subject to contingencies.
Tailwinds
- Rebranding hotels to Sonesta may offer benefits.
- Proactive steps taken to maintain liquidity and preserve capital.
- Hotel portfolio showing gradual performance improvement.
- Occupancy rates at hotel portfolio steadily increasing.
- Rent collections from retail net lease tenants trending upward.
Headwinds
- COVID-19 pandemic and economic conditions may persist or worsen.
- Actions taken may not ensure sufficient liquidity and capital preservation.
- Capital spending deferred may become necessary sooner than expected.
- Sonesta is a smaller company compared to Wyndham, IHG, and Marriott.
- Positive trends may not be indicative of future performance.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
+0.2%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-0.5%
Avg return
30 days after
46%
31 / 68 earnings
Positive
+43.3%
Q3 2020
Best reaction
-19.2%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.6% | +3.9% | +1.3% | |
| Q4 2025 | +6.8% | +2.3% | -19.5% | |
| Q3 2025 | -6.5% | -17.4% | -17.0% | |
| Q1 2025 | -2.9% | +8.2% | +13.5% | |
| Q4 2024 | +9.0% | +9.8% | -1.1% | |
| Q3 2024 | +6.8% | +5.1% | -6.1% | |
| Q2 2024 | -4.7% | -8.1% | -9.3% | |
| Q1 2024 | -6.4% | -5.6% | -15.0% | |
| Q4 2023 | -9.0% | -12.9% | -9.2% | |
| Q3 2023 | -3.5% | -9.4% | -1.7% | |
| Q2 2023 | +5.7% | +4.4% | -2.9% | |
| Q1 2023 | -6.7% | -9.3% | +0.2% | |
| Q4 2022 | -1.9% | +2.5% | -12.4% | |
| Q3 2022 | -3.0% | -3.6% | +1.0% | |
| Q2 2022 | +9.5% | +11.4% | +0.6% | |
| Q1 2022 | -12.5% | -22.9% | -16.3% | |
| Q4 2021 | -1.3% | -5.8% | +0.2% | |
| Q3 2021 | +5.6% | +3.4% | -24.8% | |
| Q2 2021 | +11.3% | +7.9% | +5.5% | |
| Q1 2021 | -4.4% | -9.8% | +5.7% | |
| Q4 2020 | -3.2% | -5.0% | -4.3% | |
| Q3 2020 | +43.3% | +33.9% | +63.6% | |
| Q2 2020 | +15.1% | +15.6% | +20.8% | |
| Q1 2020 | -19.2% | -26.2% | +65.6% | |
| Q4 2019 | -2.5% | -6.1% | -62.5% | |
| Q3 2019 | -4.5% | -7.2% | -6.0% | |
| Q2 2019 | +2.0% | +1.9% | +2.7% | |
| Q1 2019 | -0.0% | +1.8% | -6.0% | |
| Q4 2018 | -1.1% | -1.1% | -3.9% | |
| Q3 2018 | +2.7% | +1.8% | +2.5% | |
| Q2 2018 | -0.2% | +1.2% | +2.3% | |
| Q1 2018 | +6.3% | +6.0% | +9.4% | |
| Q4 2017 | -4.2% | -4.2% | -0.4% | |
| Q3 2017 | +2.2% | +1.8% | +3.8% | |
| Q2 2017 | -5.0% | -3.8% | -4.4% | |
| Q1 2017 | -5.4% | -6.9% | -4.4% | |
| Q4 2016 | -1.4% | -2.5% | -0.8% | |
| Q3 2016 | -2.4% | +5.3% | +12.2% | |
| Q2 2016 | -0.8% | -0.7% | -4.3% | |
| Q1 2016 | +0.6% | — | — | |
| Q4 2015 | +2.5% | — | — | |
| Q3 2015 | +0.8% | — | — | |
| Q2 2015 | +5.0% | — | — | |
| Q1 2015 | +2.9% | — | — | |
| Q4 2014 | +1.0% | — | — | |
| Q3 2014 | +1.3% | — | — | |
| Q2 2014 | +0.7% | — | — | |
| Q1 2014 | +3.3% | — | — | |
| Q4 2013 | -0.1% | — | — | |
| Q3 2013 | -2.2% | — | — | |
| Q2 2013 | -0.5% | — | — | |
| Q1 2013 | +2.3% | — | — | |
| Q4 2012 | -0.8% | — | — | |
| Q3 2012 | -3.3% | — | — | |
| Q2 2012 | -5.3% | — | — | |
| Q1 2012 | +0.8% | — | — | |
| Q4 2010 | -1.7% | — | — | |
| Q4 2011 | -1.7% | — | — | |
| Q3 2011 | -6.2% | — | — | |
| Q2 2011 | +8.2% | — | — | |
| Q1 2010 | +4.8% | — | — | |
| Q1 2011 | +1.3% | — | — | |
| Q4 2008 | -6.1% | — | — | |
| Q3 2009 | -7.9% | — | — | |
| Q3 2010 | -7.9% | — | — | |
| Q4 2009 | +2.5% | — | — | |
| Q2 2010 | +2.5% | — | — | |
| Q2 2009 | +2.5% | — | — |
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