NYSE$HLT

Hilton Worldwide Holdings Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Reported second quarter 2021 results, demonstrating recovery from the COVID-19 pandemic.

Hilton's second quarter 2021 results reflect a strong recovery from the COVID-19 pandemic, with significant increases in RevPAR and fee revenues. The company reported a net income of $128 million and an adjusted EBITDA of $400 million.

  • Diluted EPS was $0.46 for the second quarter, and diluted EPS, adjusted for special items, was $0.56.
  • Net income was $128 million for the second quarter.
  • Adjusted EBITDA was $400 million for the second quarter.
  • System-wide comparable RevPAR increased 233.8 percent on a currency neutral basis for the second quarter from the same period in 2020.

Headline financials

Total Revenue

$1.33B

Previous: $564M+135.6%
EPS (adj)

$0.56

Previous: -$0.61+191.8%
System-wide RevPAR

$233.80

Previous: $21.67+978.9%
Capital Expenditures

-$9M

Previous: -$30M+70.0%
Free Cash Flow

$121M

Previous: -$460M+126.3%
Net Income

$130M

Previous: -$430M+130.2%
Operating Income

$224M

Previous: -$302M+174.2%
Gross Profit

$377M

Previous: -$85M+543.5%
Cash & Equivalents

$1.04B

Previous: $3.5B-70.2%
Total Assets

$15.1B

Previous: $17.1B-11.9%
Stock-Based Comp

$53M

Previous: $12M+341.7%

Revenue & EPS history

Hilton · Revenue · Quarterly

$1.33B

Q2 2021+135.6%vs Q2 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Hilton · $574M total across 5 segments · Q2 2021

  • Franchise & Licensing Fees
    $369M+179.5%
  • Ownership
    $121M+290.3%
  • Base & Other Mgmt Fees
    $42M+425.0%
  • Incentive Mgmt Fees
    $21M+520.0%
  • Other Revenues
    $21M+110.0%

Forward guidance

Hilton expects continued strength in leisure demand and further upticks in business travel to drive continued resurgence in the back half of the year. Net unit growth for the full year is expected to be between 5.0 percent and 5.5 percent.

Tailwinds

  • Continued strength in leisure demand
  • Further upticks in business travel
  • Renewed interest in travel and tourism
  • Families embarking on long-delayed trips
  • Businesses scheduling in-person meetings again

Headwinds

  • Pace of recovery varies by region
  • Uncertainty surrounding coronavirus variants
  • Potential impact of COVID-19 on travel
  • Risks inherent to the hospitality industry
  • Macroeconomic factors beyond Hilton's control

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 2021

Historical avgQ2 2021

+0.8%

Avg return

Earnings day

+1.2%

Avg return

5 days after

+2.7%

Avg return

30 days after

57%

30 / 53 earnings

Positive

+7.9%

Q4 2018

Best reaction

-5.8%

Q1 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.5%-4.2%+0.5%
Q4 2025+0.4%-2.8%-9.9%
Q3 2025+3.4%+0.1%+3.2%
Q2 2025-2.6%-1.2%+1.3%
Q1 2025+2.2%+8.7%+12.0%
Q4 2024+4.9%+4.4%-4.2%
Q3 2024-1.2%-0.4%+6.2%
Q2 2024-1.0%-0.7%+2.9%
Q1 2024+3.5%+2.6%+3.1%
Q4 2023-0.0%-0.5%+5.7%
Q3 2023-0.8%+1.1%+13.5%
Q2 2023+1.0%+2.9%-2.7%
Q1 2023-3.1%-1.3%-5.6%
Q4 2022-0.1%+2.8%-4.6%
Q3 2022+2.1%+3.5%+5.8%
Q2 2022+6.5%+7.0%+9.0%
Q1 2022-2.6%-7.7%-8.4%
Q4 2021-3.1%-4.8%-3.9%
Q3 2021+1.1%+0.2%-5.7%
Q2 2021+1.5%-2.7%-1.5%
Q1 2021-5.8%-5.2%-2.7%
Q4 2020+0.4%+5.6%+9.5%
Q3 2020+3.8%+14.9%+22.3%
Q2 2020+4.6%+8.8%+13.7%
Q1 2020+2.0%-5.4%+23.2%
Q4 2019+2.1%+1.7%-31.1%
Q3 2019+6.8%+7.1%+11.6%
Q2 2019+1.3%+2.4%-4.2%
Q1 2019+4.9%+6.1%+2.8%
Q4 2018+7.9%+10.0%+15.4%
Q3 2018-1.9%-0.4%+6.2%
Q2 2018-1.1%-4.0%-4.2%
Q1 2018-2.0%-1.9%+0.0%
Q4 2017+1.6%+0.1%-2.0%
Q3 2017+0.8%+1.3%+6.2%
Q2 2017-0.8%-0.9%+0.6%
Q1 2017+2.8%+3.0%+12.3%
Q4 2016+1.3%+0.1%-0.9%
Q3 2016-2.1%-0.6%+11.4%
Q2 2016-4.1%-2.3%+0.6%
Q1 2016+2.8%
Q4 2015+2.9%
Q3 2015-0.6%
Q2 2015+0.2%
Q1 2015-1.6%
Q4 2014-1.0%
Q3 2014+1.0%
Q2 2013-0.1%
Q2 2014-0.1%
Q1 2013+1.5%
Q4 2012+1.5%
Q1 2014+1.5%
Q4 2013-0.8%
Q3 2013
Q3 2012

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