NYSE$PEB
Pebblebrook Hotel Trust · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Pebblebrook's Q2 2024 financial performance reflected a net income of $32.2 million and a Same-Property Total RevPAR increase of 2.5% compared to Q2 2023.
Pebblebrook Hotel Trust reported a net income of $32.2 million for Q2 2024. Same-Property Total RevPAR increased by 2.5% compared to Q2 2023. The company's bottom-line operating results exceeded expectations due to operating efficiency initiatives and savings from real estate tax reductions.
- Net income was reported at $32.2 million.
- Same-Property Total RevPAR increased by 2.5% compared to Q2 2023, with urban properties up 3.4% and resort properties up 0.6%.
- Same-Property EBITDA reached $117.2 million, an increase of $9.6 million or 8.9% compared to Q2 2023.
- Adjusted FFO per diluted share increased by 11.3% from Q2 2023, reaching $0.69.
Headline financials
Revenue & EPS history
Pebblebrook · Revenue · Quarterly
$397M
Revenue by segment
Pebblebrook · $163M total across 3 segments · Q2 2021
- Room Revenue$109M—66.5%
- Food and Beverage$31.5M—19.3%
- Other Operating$23.2M—14.2%
Forward guidance
Pebblebrook has updated its 2024 outlook, lowering revenue growth expectations but raising projections for Hotel EBITDA, Adjusted EBITDAre, Adjusted FFO, and AFFO/share due to increasing geopolitical and economic uncertainties.
Tailwinds
- Overall group and transient pace remains ahead for the balance of the year compared with 2023.
- Business group and transient segments remain healthy.
- Luxury and upscale travelers have remained resilient.
- Company is on track for a successful summer season across the portfolio.
- LaPlaya is expected to contribute $24 million of EBITDA for the entire year.
Headwinds
- Increasing geopolitical and economic uncertainties are likely to impact industry performance and operating results.
- Leisure consumers have become increasingly price-conscious, particularly within the lower-priced segments, and this trend is beginning to impact some higher-end segments.
- Company now expects continued pressure on ADR throughout the remainder of the year.
- Net loss outlook is ($13.0) to ($4.0) million.
- Same-Property RevPAR Growth Rate outlook is +1.25% to +2.25%.
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 2024
-0.1%
Avg return
Earnings day
-0.5%
Avg return
5 days after
+0.8%
Avg return
30 days after
48%
31 / 65 earnings
Positive
+12.3%
Q1 2020
Best reaction
-9.5%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.4% | -0.6% | +9.8% | |
| Q4 2025 | +7.9% | +4.2% | +0.2% | |
| Q3 2025 | +2.0% | +10.0% | +4.8% | |
| Q1 2025 | -0.3% | -1.8% | +0.4% | |
| Q4 2024 | +4.3% | +0.8% | -13.6% | |
| Q3 2024 | -1.4% | -3.0% | +11.0% | |
| Q2 2024 | -3.4% | -2.4% | -6.5% | |
| Q1 2024 | +3.4% | -0.8% | -5.6% | |
| Q4 2023 | -0.7% | -4.2% | -2.3% | |
| Q3 2023 | -9.5% | -7.5% | -3.1% | |
| Q2 2023 | +6.7% | +6.6% | -3.7% | |
| Q1 2023 | -0.2% | +2.5% | -2.5% | |
| Q4 2022 | -3.5% | -3.3% | -15.1% | |
| Q3 2022 | +0.6% | +0.2% | +0.9% | |
| Q2 2022 | -0.2% | +3.1% | +1.5% | |
| Q1 2022 | -0.8% | -3.2% | -13.4% | |
| Q4 2021 | -6.1% | -4.1% | -1.7% | |
| Q3 2021 | +4.3% | +11.3% | +0.4% | |
| Q2 2021 | +0.0% | -3.6% | -2.6% | |
| Q1 2021 | -3.0% | -4.4% | -9.3% | |
| Q4 2020 | +1.7% | +0.2% | +8.2% | |
| Q3 2020 | -2.4% | +5.3% | +58.1% | |
| Q2 2020 | +0.6% | -0.8% | +23.1% | |
| Q1 2020 | +12.3% | -1.8% | +63.6% | |
| Q4 2019 | +2.9% | -6.7% | -64.9% | |
| Q3 2019 | -3.3% | -3.7% | -5.7% | |
| Q2 2019 | +1.6% | +3.3% | -5.6% | |
| Q1 2019 | +3.9% | +2.9% | -7.3% | |
| Q4 2018 | -4.1% | -6.1% | -9.1% | |
| Q3 2018 | -1.2% | -0.6% | +3.6% | |
| Q2 2018 | -0.7% | -1.5% | -0.4% | |
| Q1 2018 | -0.1% | -1.1% | +16.4% | |
| Q4 2017 | +2.9% | -1.0% | -5.0% | |
| Q3 2017 | +1.4% | +0.1% | +5.2% | |
| Q2 2017 | +3.9% | +6.4% | +0.4% | |
| Q1 2017 | -5.6% | -2.6% | -1.7% | |
| Q4 2016 | -2.5% | +0.0% | -2.2% | |
| Q3 2016 | -3.8% | -5.9% | +9.1% | |
| Q2 2016 | -3.9% | -4.8% | -5.2% | |
| Q1 2016 | -3.1% | — | — | |
| Q4 2015 | +0.5% | — | — | |
| Q3 2015 | -6.0% | — | — | |
| Q2 2015 | -7.6% | — | — | |
| Q1 2015 | +2.3% | — | — | |
| Q4 2014 | +1.1% | — | — | |
| Q3 2014 | +2.2% | — | — | |
| Q2 2014 | -0.1% | — | — | |
| Q1 2014 | -0.5% | — | — | |
| Q4 2013 | +1.2% | — | — | |
| Q3 2013 | +1.7% | — | — | |
| Q2 2013 | +0.1% | — | — | |
| Q1 2013 | +1.3% | — | — | |
| Q4 2012 | +0.1% | — | — | |
| Q3 2012 | -3.6% | — | — | |
| Q2 2012 | +2.7% | — | — | |
| Q1 2011 | +1.4% | — | — | |
| Q1 2012 | +3.2% | — | — | |
| Q4 2009 | -0.7% | — | — | |
| Q4 2011 | -0.7% | — | — | |
| Q3 2011 | +10.0% | — | — | |
| Q2 2011 | -5.8% | — | — | |
| Q4 2010 | -5.8% | — | — | |
| Q3 2010 | -5.7% | — | — | |
| Q2 2010 | -0.5% | — | — | |
| Q1 2010 | +3.4% | — | — |
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