Pebblebrook Hotel Trust, also known by its acronym PEB, recently reported an increased loss for its first quarter, as compared to the same period last year. The company recorded earnings at negative $38.98 million, or a loss of $0.32 per share. This shows a downturn compared to the previous year's first quarter, where the company saw negative $33.92 million or a loss of $0.27 per share.
However, it wasn't all bleak as the company's revenue for the quarter did witness a rise. The revenue rose by a modest 2.7%, taking the earnings from $305.72 million the previous year to $314.07 million in this year's first quarter.
If we conduct a quick review of Pebblebrook Hotel Trust's earnings, according to GAAP report:
- The earnings in Q1 were negative $38.98 million, which is steeper than the negative $33.92 million in the previous year.
- The Earnings per Share (EPS) in Q1 were down at $-0.32, compared to $-0.27 in the last year.
- Conversely, the rise in Revenue for Q1 was promising, seeing a growth from $305.72 million last year to $314.07 million this year.
