NYSE$PEB

Pebblebrook Hotel Trust · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Pebblebrook's results exceeded expectations due to unexpected increases in hotel demand and strategic transformations.

Pebblebrook Hotel Trust reported a net income of $19.6 million for Q4 2019, with Same-Property Total RevPAR increasing by 2.8% year-over-year. The company completed significant hotel sales and operator/brand transitions, positioning for future growth despite concerns about the potential impact of the coronavirus on travel.

  • Net income was $19.6 million.
  • Same-Property Total RevPAR increased by 2.8% year-over-year, and RevPAR increased by 2.0% year-over-year.
  • Same-Property EBITDA was $109.0 million, a 1.4% increase year-over-year.
  • Adjusted FFO per diluted share was $0.54, a 63.6% increase year-over-year.

Headline financials

Total Revenue

$379M

Previous: $236M+61.0%
EPS (adj)

$0.54

Previous: $0.33+63.6%
Same-Property Hotel EBITDA

$109M

No prior period
Adjusted EBITDAre

$100M

No prior period
Net Income

$19.6M

Previous: -$98.9M+119.8%
Operating Income

$42.8M

Previous: -$53.2M+180.3%
Gross Profit

$110M

Previous: $59.2M+84.9%
Cash & Equivalents

$30.1M

Previous: $83.4M-63.9%
Total Assets

$6.5B

Previous: $6.98B-6.9%
Stock-Based Comp

$2.14M

Previous: $1.99M+7.4%

Revenue & EPS history

Pebblebrook · Revenue · Quarterly

$379M

Q4 2019+61%vs Q4 2018
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Pebblebrook · $163M total across 3 segments · Q2 2021

  • Room Revenue
    $109M
  • Food and Beverage
    $31.5M
  • Other Operating
    $23.2M

Forward guidance

Pebblebrook Hotel Trust provided its 2020 outlook, which assumes $375.0 million in asset sales throughout the year. This outlook does not assume any additional impact from the coronavirus.

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 Q4 2019

Historical avgQ4 2019

-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

Earnings price reactions
QuarterReport dateReaction (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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