NYSE$CLDT
Chatham Lodging Trust · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Chatham Lodging Trust's performance in the third quarter of 2024 reflected RevPAR growth, driven by strong performance in technology-dependent markets, while progressing on capital recycling initiatives.
Chatham Lodging Trust announced its third quarter 2024 results, featuring a 2.1 percent RevPAR growth excluding hotels under renovation. The company reported a net income of $4.3 million, with adjusted EBITDA at $29.6 million. It is progressing with asset recycling by selling five hotels, expecting net proceeds of approximately $80 million to reduce debt.
- Generated RevPAR growth of 2.1 percent excluding hotels under renovation.
- Net income reached $4.3 million, with earnings per diluted share at $0.05.
- Adjusted EBITDA was $29.6 million and adjusted FFO was $17.6 million.
- Entered agreements to sell five hotels, anticipating $80 million in net proceeds for debt reduction.
Headline financials
Revenue & EPS history
Chatham · Revenue · Quarterly
$87.2M
Forward guidance
Chatham provided its fourth quarter 2024 guidance, anticipating RevPAR between $124 and $127 with a growth of 1% to 3%. Total hotel revenue is expected to be between $74 million and $75 million, with a net loss between $(6) million and $(4) million and an adjusted EBITDA between $19 million and $21 million.
Tailwinds
- RevPAR growth of 1% to 3% is expected.
- Adjusted FFO per diluted share is projected between $0.15 and $0.18.
- Hotel EBITDA margins are anticipated to be between 30% and 32%.
- Company is expected to benefit from declining interest rate environment.
- Completion of hotel renovations by the end of the year.
Headwinds
- Net loss is expected to be between $(6) million and $(4) million
- Net loss per diluted common share is projected between $(0.15) and $(0.11)
- Corporate cash administrative expenses are estimated at $3.3 million.
- Renovations of three hotels will impact results.
- Repayment of a $14 million maturing mortgage in December.
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 2024
-0.9%
Avg return
Earnings day
-0.3%
Avg return
5 days after
+0.2%
Avg return
30 days after
48%
30 / 63 earnings
Positive
+12.5%
Q1 2026
Best reaction
-21.4%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +12.5% | +11.8% | — | |
| Q4 2025 | +1.2% | +4.5% | +5.6% | |
| Q3 2025 | +1.1% | +5.3% | +1.7% | |
| Q1 2025 | +0.3% | -0.4% | -0.1% | |
| Q4 2024 | +1.9% | +0.5% | -10.8% | |
| Q3 2024 | +6.8% | +9.5% | +14.1% | |
| Q2 2024 | -7.7% | -9.2% | -1.3% | |
| Q1 2024 | +0.1% | -1.6% | -4.5% | |
| Q4 2023 | +0.0% | +1.3% | -1.5% | |
| Q3 2023 | +10.1% | +5.7% | +8.4% | |
| Q2 2023 | -1.5% | +2.0% | +3.6% | |
| Q1 2023 | +0.9% | -0.5% | -3.0% | |
| Q4 2022 | -3.9% | -7.1% | -24.9% | |
| Q3 2022 | -0.2% | +8.3% | +8.3% | |
| Q2 2022 | +6.9% | +7.6% | -0.6% | |
| Q1 2022 | -6.3% | -13.1% | -6.3% | |
| Q4 2021 | -1.7% | -5.8% | -3.8% | |
| Q3 2021 | +3.1% | -0.2% | -10.1% | |
| Q2 2021 | -5.8% | +0.5% | +4.2% | |
| Q1 2021 | -9.7% | -7.3% | -6.7% | |
| Q4 2020 | +2.4% | +3.7% | +5.1% | |
| Q3 2020 | +3.4% | +12.2% | +57.5% | |
| Q2 2020 | +7.7% | +21.8% | +39.0% | |
| Q1 2020 | -21.4% | -26.6% | +17.6% | |
| Q4 2019 | -9.3% | -8.0% | -61.5% | |
| Q3 2019 | +1.6% | +2.1% | +1.7% | |
| Q2 2019 | -7.9% | -9.2% | -11.9% | |
| Q1 2019 | +2.3% | +3.6% | -3.3% | |
| Q4 2018 | -5.4% | -8.2% | -10.5% | |
| Q3 2018 | -0.5% | +1.5% | +1.5% | |
| Q2 2018 | +1.7% | +0.7% | -0.4% | |
| Q1 2018 | -0.3% | +1.9% | +9.1% | |
| Q4 2017 | -14.0% | -14.0% | -8.8% | |
| Q3 2017 | +5.1% | +5.9% | +7.1% | |
| Q2 2017 | -1.7% | -0.7% | -1.1% | |
| Q1 2017 | +0.8% | -1.9% | +3.5% | |
| Q4 2016 | -1.0% | -1.7% | -5.6% | |
| Q3 2016 | -2.0% | -0.4% | +9.1% | |
| Q2 2016 | -11.3% | -7.5% | -14.3% | |
| Q1 2016 | +1.2% | — | — | |
| Q4 2015 | +2.4% | — | — | |
| Q3 2015 | -3.9% | — | — | |
| Q2 2015 | -10.5% | — | — | |
| Q1 2015 | -1.6% | — | — | |
| Q4 2014 | -3.9% | — | — | |
| Q3 2014 | -1.6% | — | — | |
| Q2 2014 | +2.4% | — | — | |
| Q1 2014 | +0.7% | — | — | |
| Q4 2013 | +1.7% | — | — | |
| Q3 2013 | +10.8% | — | — | |
| Q2 2013 | +0.6% | — | — | |
| Q1 2013 | -0.7% | — | — | |
| Q4 2012 | -1.5% | — | — | |
| Q3 2012 | +0.2% | — | — | |
| Q2 2012 | +0.4% | — | — | |
| Q1 2012 | +0.2% | — | — | |
| Q4 2011 | +1.2% | — | — | |
| Q3 2010 | -5.0% | — | — | |
| Q3 2011 | -5.0% | — | — | |
| Q4 2010 | -1.9% | — | — | |
| Q2 2011 | -1.9% | — | — | |
| Q2 2010 | -1.9% | — | — | |
| Q1 2011 | -0.4% | — | — |
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