Wed, Oct 23, 2:06 PM (71 days ago)
Hilton Worldwide Holdings Inc. (HLT) reported its Q3 2024 results, highlighting a solid performance with total revenues of $2,867 million, up 7.3% year-over-year. The management and franchise segment contributed significantly, with franchise and licensing fees increasing 8.6% to $698 million. Net income attributable to Hilton stockholders was $344 million, resulting in diluted EPS of $1.38. Cash flow from operations was strong at $1,431 million, though down 3.4% from the previous year, primarily due to higher tax payments. The company maintained robust liquidity with $1,655 million in cash and equivalents, alongside $1.9 billion available under its revolving credit facility. Hilton's debt rose to approximately $11.3 billion, with a recent issuance of $1 billion in senior notes. The company continues to focus on strategic growth, with a development pipeline of 3,525 hotels. However, challenges remain, including inflationary pressures and geopolitical uncertainties impacting future operations. Overall, Hilton's financial health appears solid, with positive trends in occupancy and revenue per available room (RevPAR) across various regions, particularly in the Americas and Europe.