NYSE$APLE
Apple Hospitality REIT Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Apple Hospitality REIT's Q4 2023 financial results were reported, demonstrating RevPAR growth and strategic acquisitions.
Apple Hospitality REIT reported a net income of $20.8 million for Q4 2023, a significant increase compared to $2.3 million in Q4 2022. Comparable Hotels RevPAR increased by 2.4% to $105.01, and the Company acquired five high-quality hotels during the quarter.
- Comparable Hotels RevPAR increased by 2.4% to $105.01 for the fourth quarter 2023.
- The Company achieved Comparable Hotels Adjusted Hotel EBITDA margin of 32.9% for the fourth quarter 2023.
- Apple Hospitality acquired five hotels during the fourth quarter 2023.
- The Company sold approximately 12.8 million shares under its ATM Program, receiving net proceeds of approximately $216 million.
Headline financials
Revenue & EPS history
Apple Hospitality · Revenue · Quarterly
$312M
Revenue by segment
Apple Hospitality · $341M total across 2 segments · Q3 2023
- Room Revenue$327M—96.0%
- Food & Beverage$13.6M—4.0%
Forward guidance
The Company is providing its operational and financial outlook for 2024.
Tailwinds
- Net income between $191 million and $217 million.
- Comparable Hotels RevPAR Change between 2.0% and 4.0%.
- Comparable Hotels Adjusted Hotel EBITDA Margin % between 34.6% and 35.6%.
- Adjusted EBITDAre between $452 million and $474 million.
- Capital expenditures between $75 million and $85 million.
Headwinds
- Changes in political, economic, competitive and specific market conditions.
- The amount and timing of announced or future acquisitions and dispositions of hotel properties.
- The level of capital expenditures may change significantly, which will directly affect the level of depreciation expense, interest expense and net income.
- The amount and timing of debt repayments may change significantly based on market conditions, which will directly affect the level of interest expense and net income.
- The amount and timing of transactions involving the Company's common stock may change based on market conditions.
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 Q4 2023
-0.2%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+0.3%
Avg return
30 days after
47%
20 / 43 earnings
Positive
+19.1%
Q1 2020
Best reaction
-9.0%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.9% | +5.5% | +13.4% | |
| Q4 2025 | -1.0% | +0.4% | -2.5% | |
| Q3 2025 | -1.9% | +2.3% | +1.4% | |
| Q1 2025 | -0.1% | -3.1% | -1.1% | |
| Q4 2024 | -1.6% | +1.3% | -11.1% | |
| Q3 2024 | +0.5% | +8.5% | +9.6% | |
| Q2 2024 | -3.1% | -3.0% | -2.8% | |
| Q1 2024 | +1.2% | +1.1% | -2.5% | |
| Q4 2023 | +0.3% | -1.2% | +1.7% | |
| Q3 2023 | -6.0% | -5.3% | +0.9% | |
| Q2 2023 | +0.1% | +0.8% | +0.1% | |
| Q1 2023 | +1.4% | +4.2% | -0.7% | |
| Q4 2022 | -2.4% | -1.9% | -18.6% | |
| Q3 2022 | -2.7% | +1.6% | +2.3% | |
| Q2 2022 | -0.8% | -0.4% | -6.5% | |
| Q1 2022 | -3.4% | -5.1% | -2.8% | |
| Q4 2021 | -3.8% | +1.5% | +1.1% | |
| Q3 2021 | +0.4% | -1.9% | -9.6% | |
| Q2 2021 | +4.8% | +3.6% | +6.1% | |
| Q1 2021 | +1.4% | -2.1% | +3.1% | |
| Q4 2020 | +0.6% | -4.1% | +0.5% | |
| Q3 2020 | +1.0% | +16.1% | +24.7% | |
| Q2 2020 | +5.5% | +11.1% | +21.8% | |
| Q1 2020 | +19.1% | +12.1% | +32.5% | |
| Q4 2019 | -9.0% | -13.4% | -38.6% | |
| Q3 2019 | +0.9% | -1.0% | -3.9% | |
| Q2 2019 | +0.2% | +1.7% | +5.5% | |
| Q1 2019 | -0.5% | -0.1% | -4.7% | |
| Q4 2018 | -0.2% | -1.6% | -2.5% | |
| Q3 2018 | -2.2% | +0.4% | -2.9% | |
| Q2 2018 | -0.2% | -3.5% | -1.3% | |
| Q1 2018 | +0.5% | +1.0% | +3.9% | |
| Q4 2017 | -1.1% | -4.9% | -6.2% | |
| Q3 2017 | +1.0% | +1.4% | +3.1% | |
| Q2 2017 | -1.5% | -1.7% | +0.4% | |
| Q1 2017 | +0.9% | -2.1% | -0.7% | |
| Q4 2016 | -2.7% | -5.6% | -7.0% | |
| Q3 2016 | +0.6% | -1.0% | +11.5% | |
| Q2 2016 | -0.5% | -2.1% | -7.5% | |
| Q1 2016 | +0.5% | — | — | |
| Q4 2015 | -4.4% | — | — | |
| Q3 2015 | +2.3% | — | — | |
| Q2 2015 | +0.0% | — | — | |
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