Host Hotels & Resorts, Inc. (HST) announced its financial results for the third quarter on Wednesday, reporting a net income of $84 million or $0.12 per share. This marks a decrease from the previous year's figure of $113 million or $0.16 per share. Analysts surveyed by Thomson Reuters had anticipated earnings of $0.10 per share for the quarter.
The company's NARIET Funds From Operations (FFO) for the quarter stood at $250 million or $0.36 per share, down from $290 million or $0.41 per share a year earlier. Adjusted FFO mirrored these figures, also totaling $250 million or $0.36 per share, compared to $290 million or $0.41 per share in the previous year.
Revenue for the third quarter rose to $1.319 billion, compared to $1.214 billion in the same period last year.
Looking forward, Host Hotels & Resorts projects earnings of $687 million or $0.96 per share and anticipates NARIET and adjusted FFO of $1.92 per share for the full fiscal year 2024.
