NYSE$H

Hyatt Hotels Corp · Q2 2020 earnings

Q2 2020 earnings · · Investor relations

Briefing

Hyatt's operations were adapted to the COVID-19 pandemic environment, with Greater China leading the recovery.

Hyatt Hotels Corporation reported a net loss of $236 million for the second quarter of 2020, a significant decrease compared to the net income of $86 million in the second quarter of 2019. The company's performance was heavily impacted by the COVID-19 pandemic, with comparable system-wide RevPAR decreasing by 89.4%.

  • Net loss attributable to Hyatt was $236 million.
  • Adjusted EBITDA decreased 154.6% to $(117) million.
  • Cash and cash equivalents totaled $1,438 million.
  • Comparable system-wide RevPAR decreased 89.4%.

Headline financials

Total Revenue

$250M

Previous: $1.29B-80.6%
EPS (adj)

-$1.80

Previous: $0.76-336.8%
System-wide RevPAR Growth

-89.4%

Previous: 0.0%
Adjusted EBITDA

-$117M

No prior period
Capital Expenditures

-$88M

Previous: -$146M+39.7%
Free Cash Flow

-$324M

Previous: -$60M-440.0%
Net Income

-$236M

Previous: $86M-374.4%
Operating Income

-$204M

Previous: -$111M-83.8%
Gross Profit

-$84M

Previous: $6M-1500.0%
Cash & Equivalents

$1.44B

Previous: $515M+179.2%
Total Assets

$8.58B

Previous: $8.08B+6.2%
Stock-Based Comp

$3M

Previous: $6M-50.0%

Revenue & EPS history

Hyatt · Revenue · Quarterly

$250M

Q2 2020-80.6%vs Q2 2019
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Forward guidance

There remains uncertainty regarding the full return of hotel demand to pre-COVID-19 levels.

Tailwinds

  • Demand progression has been seen in China.
  • Demand progression has been seen in certain markets in the U.S.
  • Demand progression has been seen in other parts of the world.
  • Teams are prepared for varied recovery scenarios.
  • Continuously evolving new ways of operating that reduce the occupancy levels that are required to break even at the hotel operating level.

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 Q2 2020

Historical avgQ2 2020

+0.6%

Avg return

Earnings day

+2.0%

Avg return

5 days after

+3.0%

Avg return

30 days after

57%

37 / 65 earnings

Positive

+11.5%

Q4 2023

Best reaction

-9.1%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+5.5%+1.9%+14.1%
Q4 2025+0.3%+0.6%-17.4%
Q3 2025+6.1%+13.4%+13.0%
Q1 2025+5.3%+7.9%+17.2%
Q4 2024-9.1%-9.9%-24.6%
Q3 2024-7.7%-8.9%+0.5%
Q2 2024-2.7%+0.9%+10.0%
Q1 2024+3.0%+1.8%-1.8%
Q4 2023+11.5%+2.5%+19.0%
Q3 2023+0.6%+2.6%+13.6%
Q2 2023-8.3%-5.6%-6.2%
Q1 2023-1.6%+0.7%-2.6%
Q4 2022-3.0%-3.8%-9.5%
Q3 2022+0.0%-0.9%+8.3%
Q2 2022+3.4%+8.6%+6.9%
Q1 2022+4.4%+4.8%+13.2%
Q4 2021-3.8%-4.9%-11.2%
Q3 2021+6.4%+8.8%-3.7%
Q2 2021-5.8%-2.4%-4.6%
Q1 2021-2.4%-1.8%-4.2%
Q4 2020-0.2%+6.3%+10.6%
Q3 2020-2.6%+15.8%+29.8%
Q2 2020+2.6%+6.5%+19.7%
Q1 2020-1.5%-2.3%+24.1%
Q4 2019+4.7%-3.3%-47.3%
Q3 2019+2.5%+5.8%+10.8%
Q2 2019-3.1%-6.3%-8.6%
Q1 2019+0.8%+0.9%-5.9%
Q4 2018+3.1%+2.8%+2.9%
Q3 2018+5.4%+8.8%+10.0%
Q2 2018+3.2%+1.8%+1.0%
Q1 2018+1.4%+2.8%+9.4%
Q4 2017+1.4%+1.4%+1.7%
Q3 2017+7.2%+10.7%+15.3%
Q2 2017+8.3%+5.7%+7.0%
Q1 2017+3.2%+3.1%+2.9%
Q4 2016-6.0%-6.2%-6.5%
Q3 2016+0.9%+5.3%+6.4%
Q2 2016+1.1%+3.1%+4.8%
Q1 2016+2.4%
Q4 2015+8.0%
Q3 2015-0.1%
Q2 2015-6.6%
Q1 2015-1.4%
Q4 2014-1.2%
Q3 2014-3.4%
Q2 2014-4.9%
Q1 2014+7.0%
Q4 2013+0.2%
Q3 2013+1.7%
Q2 2013+9.1%
Q1 2013-6.1%
Q4 2012-1.5%
Q3 2012-5.0%
Q2 2012-0.4%
Q1 2012+0.2%
Q4 2009+0.3%
Q2 2011+0.3%
Q4 2011+0.3%
Q3 2011+5.8%
Q3 2010+5.8%
Q2 2010-3.8%
Q1 2011-1.7%
Q4 2010-1.7%
Q1 2010-1.7%

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