NYSE$RHP

Ryman Hospitality Properties Inc. · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Ryman Hospitality Properties reported financial results for the fourth quarter and full year ended December 31, 2019.

Ryman Hospitality Properties achieved new records in both revenue and profitability in 2019, driven by strategic investments and strong performance across its hospitality and entertainment segments. The company also made progress in expanding its entertainment business with initiatives like Circle Media and the acquisition of Block 21.

  • Ryman Hospitality Properties achieved record revenue and profitability in 2019.
  • The Same-Store hotels now have a record high of more than 6.8 million net room nights on the books for all future years.
  • The Entertainment segment completed its best year ever, driven by Nashville-based entertainment assets and the Ole Red brand.
  • The company announced an agreement to acquire Block 21, a mixed-use live entertainment complex in Austin, Texas.

Headline financials

Total Revenue

$446M

Previous: $361M+23.8%
EPS (adj)

$1.84

Previous: $1.64+12.2%
Occupancy

67.0%

Previous: 66.6%+0.6%
Average Daily Rate

$229.57

Previous: $225.94+1.6%
RevPAR

$153.70

Previous: $150.50+2.1%
Total RevPAR

$240.62

Previous: $235.66+2.1%
Net Income

$36M

Previous: $159M-77.4%
Operating Income

$73.9M

Previous: $51.5M+43.5%
Gross Profit

$136M

Previous: $111M+22.7%
Cash & Equivalents

$362M

Previous: $103M+250.4%
Total Assets

$4.02B

Previous: $3.85B+4.3%
Stock-Based Comp

$1.97M

Previous: $1.83M+7.6%

Revenue & EPS history

Ryman · Revenue · Quarterly

$446M

Q4 2019+23.8%vs Q4 2018
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Ryman · $439M total across 2 segments · Q4 2019

  • Hospitality
    $338M+1.6%
  • Entertainment
    $101M+4.6%

Forward guidance

Ryman Hospitality Properties provided its business performance outlook for 2020, which includes the consummation of the planned Block 21 transaction and the impact of Circle Media.

Tailwinds

  • Momentum continues to increase as we enter 2020.
  • Confident in ability to capitalize on the strength of the group market.
  • Competitive position.
  • Anticipated benefit of recent capital reinvestments at Gaylord Texan.
  • Growth plans on the Entertainment side of our business.

Headwinds

  • Guidance does not present Same-Store data since Gaylord Rockies has been open for a full year.
  • The guidance contemplates the consummation of the planned Block 21 transaction and the impact of Circle Media.
  • Economic conditions affecting the hospitality business generally.
  • Business levels at the Company’s hotels.
  • A widespread outbreak of coronavirus in the United States could adversely affect our business results and guidance.

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

+0.3%

Avg return

Earnings day

+0.6%

Avg return

5 days after

+3.1%

Avg return

30 days after

55%

35 / 64 earnings

Positive

+7.8%

Q1 2020

Best reaction

-12.4%

Q2 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.1%+5.6%+9.5%
Q4 2025-0.7%-4.2%-9.7%
Q3 2025+1.4%+5.7%+3.6%
Q1 2025+6.0%+7.3%+10.2%
Q4 2024-5.0%-6.6%-8.8%
Q3 2024+0.7%+4.6%+9.9%
Q2 2024+0.4%-6.5%+1.0%
Q1 2024-0.6%-0.2%-0.4%
Q4 2023+0.2%-0.9%-3.3%
Q3 2023+2.1%+2.6%+8.9%
Q2 2023-5.3%-4.7%-8.2%
Q1 2023+1.9%+3.7%+8.3%
Q4 2022+3.9%+4.6%-9.5%
Q3 2022-0.0%-4.7%+3.0%
Q2 2022-1.6%-2.7%-7.1%
Q1 2022-0.2%-1.5%+1.6%
Q4 2021+3.4%-1.2%+4.1%
Q3 2021+4.5%+11.3%-13.0%
Q2 2021-2.0%+3.6%+9.1%
Q1 2021-3.3%+0.4%-1.8%
Q4 2020+7.1%+6.3%+4.4%
Q3 2020+1.8%+2.2%+61.0%
Q2 2020+7.5%+16.2%+27.7%
Q1 2020+7.8%-8.1%+45.9%
Q4 2019-11.8%-17.1%-58.2%
Q3 2019+4.3%+4.2%+2.9%
Q2 2019+4.5%+9.7%+12.8%
Q1 2019+2.4%+3.8%-3.9%
Q4 2018-3.8%-1.9%-0.5%
Q3 2018-0.0%-0.6%-1.1%
Q2 2018-0.7%+0.3%+4.5%
Q1 2018+0.2%+1.5%+7.0%
Q4 2017+3.7%+0.3%+6.9%
Q3 2017+0.5%-0.2%+3.7%
Q2 2017-5.3%-5.9%-5.1%
Q1 2017-0.9%+0.4%+1.5%
Q4 2016-2.9%-5.3%-8.3%
Q3 2016+3.0%+1.9%+17.1%
Q2 2016-1.8%-2.2%-6.1%
Q1 2016+0.1%
Q4 2015-1.9%
Q3 2015+3.0%
Q2 2015-8.4%
Q1 2015-1.0%
Q4 2014+5.7%
Q3 2014-0.4%
Q2 2014-2.0%
Q1 2014+1.7%
Q4 2013+0.0%
Q4 2010+0.0%
Q3 2013+7.7%
Q2 2013-4.1%
Q1 2013+0.2%
Q4 2012+2.9%
Q3 2012-2.4%
Q2 2012+4.9%
Q1 2012-0.4%
Q4 2011+2.4%
Q3 2010+4.0%
Q3 2011+4.0%
Q2 2011-12.4%
Q1 2010-1.2%
Q1 2011-1.2%
Q2 2010-1.2%

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