Host Hotels & Resorts, Inc. (HST) revealed its second-quarter performance on Wednesday, reporting adjusted funds from operations (AFFO) of $399 million, translating to $0.57 per share. This marks an improvement from last year’s figures of $377 million or $0.53 per share.
The company’s net profit for the quarter was $239 million, or $0.34 per share, up from $210 million or $0.29 per share in the same period last year. These results align with analysts’ expectations, as surveyed by Thomson Reuters, who had forecasted a profit of $0.34 per share for the quarter.
Revenue for the quarter rose to $1.47 billion, compared to $1.39 billion in the prior year.
Looking forward, Host Hotels & Resorts anticipates earnings for the fiscal year 2024 to be in the range of $683 million to $741 million, or $0.95 to $1.03 per share. The company also projects AFFO to be between $1.90 and $1.98 per share. Revenue expectations for the same period are set between $5.62 billion and $5.73 billion.
