NYSE$H

Hyatt Hotels Corp · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Hyatt's third quarter 2022 results were reported, with total fee revenue exceeding 2019 by 50% and full year outlook raised for RevPAR and net rooms growth.

Hyatt reported a strong third quarter in 2022, with net income of $28 million and Adjusted EBITDA of $252 million. Comparable system-wide RevPAR increased by 45.9%, and net rooms growth was 18.7%. The company raised its full year 2022 Net Rooms Growth outlook to approximately 6.5%.

  • Net income was $28 million in the third quarter of 2022.
  • Adjusted EBITDA was $252 million in the third quarter of 2022.
  • Comparable system-wide RevPAR increased 45.9% in the third quarter of 2022.
  • Net Rooms Growth was 18.7% in the third quarter of 2022.

Headline financials

Total Revenue

$1.54B

Previous: $851M+81.1%
EPS (adj)

$0.64

Previous: $2.31-72.3%
System-wide RevPAR Growth

133.3%

Previous: 93.7%+42.3%
Adjusted EBITDA

$252M

No prior period
Capital Expenditures

-$142M

Previous: -$65M-118.5%
Free Cash Flow

-$114M

Previous: $55M-307.3%
Net Income

$28M

Previous: $120M-76.7%
Operating Income

-$188M

Previous: -$97M-93.8%
Gross Profit

$349M

Previous: $147M+137.4%
Cash & Equivalents

$1.22B

Previous: $2.42B-49.4%
Total Assets

$12.4B

Previous: $9.48B+30.9%
Stock-Based Comp

$3M

Previous: $8M-62.5%

Revenue & EPS history

Hyatt · Revenue · Quarterly

$1.54B

Q3 2022+81.1%vs Q3 2021
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Forward guidance

The Company is providing the following guidance for full year 2022:

Tailwinds

  • System-Wide RevPAR1 60% to 65% vs 2021
  • Net Rooms Growth Approx. 6.5% vs 2021
  • Capital Expenditures $210 million
  • Total Adjusted SG&A2 $460 - $465 million
  • One-Time Integration Costs3 $25 - $30 million

Headwinds

  • System-Wide RevPAR1 (7)% to (4)% vs 2019
  • Capital Expenditures HHC exc. ALG $185 million
  • Capital Expenditures ALG $25 million
  • Total Adjusted SG&A2 Legacy Hyatt $320 - $325 million
  • Total Adjusted SG&A2 ALG $140 million

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 2022

Historical avgQ3 2022

+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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