McLEAN, Virginia — Hilton Worldwide Holdings Inc.'s fourth-quarter profit rose, helped in part by lower expenses. The hotelier's quarterly performance was mixed, and its adjusted earnings outlooks for the first quarter and 2015 disappointed.
The McLean, Virginia-based company earned $158 million, or 16 cents per share, for the three months ended Dec. 31. That compares with $26 million, or 3 cents per share, a year earlier.
Earnings, adjusted for non-recurring costs, came to 17 cents per share.
Analysts surveyed by FactSet expected slightly higher earnings of 18 cents per share.
Total expenses fell to $2.37 billion from $2.55 billion. Interest expense dropped to $151 million from $219 million.
The lodging company posted revenue of $2.83 billion in the period, which topped analysts' forecasts. Wall Street was looking for revenue of $2.71 billion.
For the year, Hilton reported a profit of $673 million, or 68 cents per share. Its adjusted profit was 69 cents per share. Revenue totaled $10.5 billion.
For the current quarter ending in March, Hilton expects adjusted earnings between 10 cents and 12 cents per share. This is below the 15 cents per share that analysts polled by FactSet expect.
The company foresees 2015 adjusted earnings in a range of 78 cents to 83 cents per share. Analysts polled by FactSet predict 85 cents per share.
Hilton's stock fell 5 cents to $28.60 in afternoon trading Wednesday.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLT at http://www.zacks.com/ap/HLT
Keywords: Hilton, Earnings Report
All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.