Hilton Worldwide Holdings Inc. ( HLT ) shares are trading lower on Wednesday.

The company reported second-quarter adjusted earnings per share of $1.91, beating the analyst consensus of $1.86. Quarterly revenues of $2.951 billion outpaced the street view of $2.932 billion.

In the second quarter of 2024, Hilton Worldwide ( HLT ) reported a 3.5% increase in system-wide comparable RevPAR on a currency-neutral basis compared to the same period in 2023.

The company said it approved 62,700 new rooms for development, expanding its pipeline to 508,300 rooms as of June 30, a 15% growth from the previous year.

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Hilton added 22,400 rooms to its system, resulting in 18,000 net additional rooms for the quarter and a 6.2% net unit growth year over year.

Additionally, Hilton completed the acquisition of the Graduate Hotels brand in May, enhancing its lifestyle portfolio.

For the three months ended June 30, Hilton reported net income of $422 million and Adjusted EBITDA of $917 million, compared to $413 million and $811 million, respectively, for the same period in 2023.

The company exited the quarter with $10.3 billion of debt outstanding. Total cash and cash equivalents were $802 million, including $71 million of restricted cash and equivalents.

Outlook: Hilton forecasts FY24 adjusted EPS between $6.93 and $7.03 (prior view: $6.89 and $7.03), below the $7.11 estimate, and third quarter adjusted EPS between $1.80 and $1.85, compared to the $1.90 estimate.

Price Action: HLT shares are trading lower by 0.77% to $205.53 at last check Wednesday.

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