Choice Hotels International Q3 Net Profit Down 12%

RTTNews | 1404 days ago
Choice Hotels International Q3 Net Profit Down 12%

(RTTNews) - Choice Hotels International, Inc. (CHH) announced on Wednesday that net income for the third quarter declined to $103.08 million or $1.85 per share from $116.66 million or $2.08 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $1.56 per share, compared to $1.51 per share in the year.-ago quarter.

Total revenues for the quarter grew 28 percent to $414.27 million from $323.37 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.69 per share on revenues of $367.59 million for the quarter. Analysts' estimates typically exclude special items.

Total revenues, excluding reimbursable revenue from franchised and managed properties and an extraordinary one-time termination fee, increased 21% to $201 million. Domestic system-wide revenue per available room or RevPAR increased 15.2 percent from last year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

The S&P/TSX Composite Index rose 0.36% Friday to 35,634.50 as technology stocks surged 3.5%, contributing significantly to gains. Oil prices fell following International Energy Agency's downward global oil demand forecast revision.
RTTNews | 3h 5min ago
Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

The Switzerland stock market closed modestly higher on Friday, in line with markets across Europe, as a sharp drop in oil prices helped lift sentiment.
RTTNews | 3h 38min ago
European Markets Rise As Oil Prices Fall On IEA Demand Cut

European Markets Rise As Oil Prices Fall On IEA Demand Cut

European markets gained ground Friday after the International Energy Agency cut its global oil demand forecast, sending Brent crude futures down 3.5% to $103.50. The IEA now projects world oil demand will drop 2.5 million barrels per day this year versus its prior estimate of 1.6 million bpd.
RTTNews | 4h 1min ago
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. The University of Michigan said its consumer sentiment index slumped to 47.8 in September after tumbling to 51.7 in August. Economists had expected the index to edge down to 51.0.
RTTNews | 7h 23min ago
CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including more than 2.3 million sour crush candy bottles, motorcycles, six-drawer dressers, dual fuel ranges, hair dryer brushes, and fire spray canisters, among others. In most of the recalls, consumers are urged to immediately stop using the recalled product, and contact the respective firm for either a free repair
RTTNews | 7h 31min ago
U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August, although core prices rose by slightly more than expected. The Labor Department said its consumer price index climbed by 0.4 percent in August after inching up by 0.1 percent in July.
RTTNews | 8h 11min ago