Quarterly ResultJul 30, 2026, 04:37 PM
DiamondRock H1 Net Income $104.9M, EPS $0.51; Hotel Sale
AI Summary
DiamondRock Hospitality Co. reported strong financial results for the first half of 2026, with net income attributable to common stockholders more than doubling to $104.9 million and diluted EPS reaching $0.51. This performance was significantly boosted by a $31.6 million gain from the sale of the Courtyard New York Manhattan/Fifth Avenue. The company also authorized a new $300 million share repurchase program and fully redeemed its preferred stock.
Key Highlights
- Net income attributable to common stockholders for H1 2026 was $104.9 million, up from $47.8 million in H1 2025.
- Diluted EPS for H1 2026 was $0.51, compared to $0.23 in H1 2025.
- Total revenues for H1 2026 increased to $576.4 million from $560.6 million in H1 2025.
- Sold Courtyard New York Manhattan/Fifth Avenue for $33.0 million, realizing a $31.6 million pre-tax gain.
- Board authorized a new $300 million share repurchase program, replacing the prior program.
- Repurchased $1.9 million of common stock in H1 2026; $299.4 million capacity remains.
- Redeemed all 4,760,000 shares of 8.250% Series A Cumulative Redeemable Preferred Stock.
- Declared quarterly common stock dividends of $0.12 (Jan) and $0.09 (Apr, Jul).
Price Impact
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