NYSE$WH

Wyndham Hotels & Resorts Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Wyndham's Q4 2021 performance was marked by strong U.S. RevPAR growth, system-wide room expansion, and increased profitability.

Wyndham Hotels & Resorts reported strong Q4 2021 results, exceeding the top end of its full-year outlook and achieving the largest pipeline in the company's history. Key highlights include U.S. RevPAR exceeding 2019 levels by 9%, system-wide rooms growth of 180 basis points year-over-year, and significant increases in net income and adjusted EBITDA.

  • U.S. RevPAR exceeded 2019 levels by 9%, growing 58% versus 2020.
  • System-wide rooms grew 180 basis points year-over-year, with notable growth in the U.S. and internationally.
  • Diluted earnings per share for the quarter were $0.52, and adjusted diluted earnings per share was $0.69.
  • The company's global development pipeline reached its highest level on record, consisting of over 1,500 hotels and over 194,000 rooms.

Headline financials

Total Revenue

$392M

Previous: $296M+32.4%
EPS (adj)

$0.69

Previous: $0.07+885.7%
Global RevPAR

$35.99

Previous: $23.84+51.0%
Global Rooms

810.1K

Previous: 795.9K+1.8%
U.S. RevPAR

$43.84

Previous: $27.80+57.7%
International RevPAR

$23.99

Previous: $17.37+38.1%
U.S. Rooms

490.6K

No prior period
International Rooms

319.5K

No prior period
Capital Expenditures

$14M

Previous: $10M+40.0%
Free Cash Flow

$389M

Previous: $34M+1044.1%
Net Income

$48M

Previous: -$7M+785.7%
Operating Income

$89M

Previous: $21M+323.8%
Gross Profit

$191M

Previous: $112M+70.5%
Cash & Equivalents

$171M

Previous: $493M-65.3%
Total Assets

$4.27B

Previous: $4.64B-8.1%
Stock-Based Comp

$8M

Previous: $6M+33.3%

Revenue & EPS history

Wyndham · Revenue · Quarterly

$392M

Q4 2021+32.4%vs Q4 2020
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

Wyndham · $270M total across 1 segment · Q4 2021

  • Hotel Franchising
    $270M+33.7%

Forward guidance

The Company provided the following outlook for full-year 2022:

Tailwinds

  • Net rooms growth of 2% to 4%.
  • RevPAR growth of 12% to 16% versus 2021, which is consistent with 2019 levels.
  • Fee-related and other revenues of $1.34 billion to $1.37 billion, a year-over-year increase of 8% to 10%.
  • Adjusted EBITDA of $605 million to $625 million, which is consistent with 2019 levels, and reflects a year-over-year increase of 3% to 6%.
  • Adjusted net income of $308 million to $320 million, which is consistent with 2019 levels, and reflects a year-over-year increase of 4% to 8%.

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

+0.7%

Avg return

Earnings day

+0.9%

Avg return

5 days after

-1.0%

Avg return

30 days after

46%

17 / 37 earnings

Positive

+8.8%

Q3 2018

Best reaction

-5.5%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.1%-4.4%-4.5%
Q4 2025+5.6%+5.1%-5.0%
Q3 2025-5.5%-10.0%-9.5%
Q2 2025-1.0%-2.6%-3.3%
Q1 2025+0.1%-2.2%-3.0%
Q4 2024-1.6%+2.1%-17.5%
Q3 2024+8.0%+7.1%+16.0%
Q2 2024+3.4%+4.1%+4.8%
Q1 2024+5.4%+3.9%-1.6%
Q4 2023+1.2%+0.1%-0.3%
Q3 2023-2.5%-3.4%+5.3%
Q2 2023+2.0%+5.0%-1.2%
Q1 2023-1.5%+2.0%+3.9%
Q4 2022-2.0%-2.2%-15.9%
Q3 2022+4.4%+7.9%+3.0%
Q2 2022-1.8%-1.6%-1.0%
Q1 2022-1.0%-1.4%-11.8%
Q4 2021+4.5%+1.6%-1.7%
Q3 2021+5.7%+4.3%+0.8%
Q2 2021+3.7%+0.4%+3.9%
Q1 2021-0.1%-2.1%+0.9%
Q4 2020-2.6%-3.7%+10.6%
Q3 2020-2.2%+0.6%+21.1%
Q2 2020-1.5%-5.1%+13.6%
Q1 2020+6.5%+20.3%+37.6%
Q4 2016-1.6%-2.3%-34.7%
Q4 2019-1.6%-2.3%-34.7%
Q3 2019+0.7%+3.1%+9.7%
Q2 2019-4.7%-2.8%-16.2%
Q1 2019+2.5%+2.4%-2.8%
Q4 2018-0.3%+1.3%+0.1%
Q3 2017+8.8%+9.2%+10.7%
Q3 2018+8.8%+9.2%+10.7%
Q2 2017+0.2%-7.4%-8.9%
Q2 2018-2.0%+0.4%-3.1%
Q1 2018-3.8%-1.7%-6.7%
Q4 2017-3.8%-1.7%-6.7%
Q1 2017

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