NYSE$BHR

Braemar Hotels & Resorts Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Reported third quarter 2022 results with comparable RevPAR increased 19% to $288.

Braemar Hotels & Resorts reported strong third-quarter results, with a 19% increase in comparable RevPAR to $288. The company also announced an agreement to acquire the Four Seasons Resort Scottsdale.

  • Comparable RevPAR for all hotels increased 19% over the prior year quarter to $288.
  • Adjusted funds from operations (AFFO) was $0.16 per diluted share for the quarter.
  • Adjusted EBITDAre was $34.0 million for the quarter, reflecting a growth rate of 56% over the prior year quarter.
  • Comparable Hotel EBITDA was $40.7 million for the quarter, which was 47.7% higher than the prior year quarter.

Headline financials

Total Revenue

$161M

Previous: $116M+38.7%
EPS (adj)

$0.16

Previous: $0.17-5.9%
Capital Expenditures

-$36.5M

Previous: -$15.8M-130.5%
Free Cash Flow

-$44.6M

Previous: -$22.8M-95.5%
Net Income

-$8.04M

Previous: -$6.95M-15.8%
Operating Income

$3.11M

Previous: $1.05M+196.1%
Gross Profit

-$113M

Previous: -$77M-46.3%
Cash & Equivalents

$359M

Previous: $196M+83.6%
Total Assets

$2.21B

Previous: $1.84B+20.1%
Stock-Based Comp

$3.39M

Previous: $3.04M+11.4%

Revenue & EPS history

Braemar · Revenue · Quarterly

$161M

Q3 2022+38.7%vs Q3 2021
Beat estimate in 9 of 14 quarters(64%)
ActualEstimate

Forward guidance

The Company remains very well positioned with strong leisure demand and the continued recovery of our urban portfolio looking ahead to the remainder of 2022 and into 2023.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q3 2022

Historical avgQ3 2022

-0.9%

Avg return

Earnings day

-1.1%

Avg return

5 days after

-2.7%

Avg return

30 days after

53%

28 / 53 earnings

Positive

+10.6%

Q3 2024

Best reaction

-20.9%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+7.4%-2.0%
Q4 2025-5.2%-6.2%-27.0%
Q3 2025+3.2%+8.8%+6.0%
Q1 2025+3.6%+10.4%+25.5%
Q4 2024+0.4%+16.6%+1.5%
Q3 2024+10.6%+22.0%+25.2%
Q2 2024-13.3%-22.3%-17.5%
Q1 2024+1.1%+5.2%+6.0%
Q4 2023-4.0%-9.0%-10.3%
Q3 2023-20.4%-24.6%-11.9%
Q2 2023-8.4%-11.4%-26.5%
Q1 2023+0.3%+1.8%+3.6%
Q4 2022+6.5%+2.5%-18.6%
Q3 2022-20.9%-24.2%-24.2%
Q2 2022+3.7%+1.5%-1.5%
Q1 2022+0.7%-6.7%+0.8%
Q4 2021+5.8%-2.0%+2.7%
Q3 2021+2.9%+11.3%-2.3%
Q2 2021-2.5%-0.4%-1.5%
Q1 2021+0.4%+1.0%-12.6%
Q4 2020-4.1%-10.7%-12.0%
Q3 2020+0.9%+3.4%+97.4%
Q2 2020-4.3%-3.1%-1.2%
Q1 2020-1.1%+13.9%+24.0%
Q4 2019-2.4%-4.7%-75.6%
Q3 2019+0.1%+4.7%+6.4%
Q2 2019-5.8%-12.2%-1.2%
Q1 2019-5.8%-2.2%-24.9%
Q4 2018+3.8%+4.0%-2.6%
Q3 2018+0.9%-4.9%-12.4%
Q2 2018+2.8%-1.8%+1.0%
Q1 2018-3.1%-0.2%+4.3%
Q4 2017+5.4%+8.3%+13.0%
Q3 2017+2.6%-6.4%-4.8%
Q2 2017-7.3%-3.7%-6.9%
Q1 2017-3.4%-4.3%-9.3%
Q4 2016+0.3%-3.1%-24.2%
Q3 2016-1.2%-0.4%+5.2%
Q2 2016+7.8%+6.7%+4.9%
Q1 2016+4.3%
Q4 2015-3.4%
Q3 2015-0.8%
Q2 2015-7.0%
Q1 2015+0.8%
Q4 2012+0.1%
Q4 2014+0.2%
Q3 2013+0.6%
Q3 2014+2.4%
Q2 2013-0.9%
Q2 2014-0.3%
Q1 2013-0.5%
Q1 2014-0.2%
Q4 2013-1.0%
Q3 2012

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