Quarterly ResultApr 30, 2026, 04:42 PM
DRH Q1 Net Income +53.8% to $14.5M; EPS $0.07; New $300M Buyback
AI Summary
DiamondRock Hospitality Co (DRH) reported a significant increase in net income and EPS for Q1 2026. Net income attributable to common stockholders rose 53.8% to $14.5 million, with basic EPS increasing 40% to $0.07. Total revenues saw a modest 1.3% increase to $258.2 million, while Hotel Adjusted EBITDA grew 7.3% to $66.2 million. The company also announced a new $300 million share repurchase program and completed the redemption of all outstanding preferred stock, in addition to disclosing an agreement to sell one hotel for $33.0 million.
Key Highlights
- Net income attributable to common stockholders increased 53.8% to $14.5 million.
- Basic EPS rose 40% to $0.07 for the three months ended March 31, 2026.
- Total revenues increased 1.3% to $258.2 million.
- Hotel Adjusted EBITDA grew 7.3% to $66.2 million.
- Board approved a new $300.0 million share repurchase program.
- All 4,760,000 shares of 8.250% Series A Preferred Stock were redeemed.
- Agreement to sell one hotel for $33.0 million.
- Cash and cash equivalents were $39.3 million as of March 31, 2026.
Price Impact
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