NYSE$RHP

Ryman Hospitality Properties Inc. · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported financial results for the three months and year ended December 31, 2021.

Ryman Hospitality Properties reported its Q4 and full year 2021 results, demonstrating a powerful and nimble business positioned to thrive in the face of uncertainty. Leisure demand was a bright spot throughout the year, contributing to full year results that exceeded internal expectations. The company's hotel operators delivered impressive Adjusted EBITDAre performance, despite experiencing occupancy levels well below 2019 levels.

  • Improvement in group travel as compared to 2020 and encouraging trends for future periods as national health conditions improve.
  • Leisure demand was a bright spot throughout the year for hospitality and entertainment businesses and contributed to full year results that exceeded internal expectations.
  • Significant capital investments have created additional growth opportunities and further differentiate our product versus the competition.
  • Block 21 acquisition is on track to close by the end of Q1 2022.

Headline financials

Total Revenue

$377M

Previous: $127M+198.3%
EPS (adj)

$0.94

Previous: -$0.56+267.9%
Occupancy

52.6%

No prior period
Average Daily Rate

$227.21

No prior period
RevPAR

$119.49

No prior period
Total RevPAR

$182.20

No prior period
Net Income

$48.3M

Previous: -$92.1M+152.4%
Operating Income

$78.5M

Previous: -$64.9M+221.0%
Gross Profit

$94.1M

Previous: -$4.56M+2163.3%
Cash & Equivalents

$141M

Previous: $56.7M+148.1%
Total Assets

$3.97B

Previous: $3.61B+10.0%
Stock-Based Comp

$3.16M

Previous: $2.11M+49.8%

Revenue & EPS history

Ryman · Revenue · Quarterly

$377M

Q4 2021+198.3%vs Q4 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Ryman · $372M total across 2 segments · Q4 2021

  • Hospitality
    $273M+32.1%
  • Entertainment
    $99M+296.2%

Forward guidance

As we approach the two-year anniversary of the near-total shutdown of our businesses due to the COVID-19 pandemic, I am pleased to see that our team remains focused on the future. We have continued to invest in our people and portfolio, and we will emerge a stronger and more resilient company than ever before.

Tailwinds

  • Team remains focused on the future.
  • Continued to invest in our people and portfolio.
  • Emerge a stronger and more resilient company than ever before.
  • One-of-a-kind business is well-positioned for the future.
  • Healthy balance sheet that has allowed us to invest in our future and create tremendous shareholder value.

Headwinds

  • COVID-19 pandemic
  • Effects of the COVID-19 pandemic on the demand for travel
  • Transient and group business (including government-imposed restrictions)
  • Levels of consumer confidence in the safety of travel and group gathering as a result of COVID-19
  • Governmental restrictions on our businesses

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 2021

Historical avgQ4 2021

+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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