S&P 500 (NYSE:SPY) component Wyndham Worldwide Corporation (NYSE:WYN) reported higher profit for the first quarter as revenue showed growth. Wyndham Worldwide Corporation is a hospitality company, offering individual consumers and business customers hospitality products and services. .
Wyndham Worldwide Earnings Cheat Sheet for the First Quarter
Results: Net income for the lodging company rose to $72 million (41 cents/share) vs. $50 million (27 cents/share) in the same quarter a year earlier. A rise of 44% from the year earlier quarter.
Actual vs. Wall St. Expectations: WYN beat the mean analyst estimate of 40 cents/share. Estimates ranged from 36 cents per share to 41 cents per share.
Quoting Management: “We are pleased to report that 2011 started as 2010 ended, with strong operating performance and accelerating earnings per share growth,” said Stephen P. Holmes, chairman and CEO, Wyndham Worldwide. “We delivered strong operating performance across all our businesses and are confident in the sustainability of our growth and cash flow. Our confidence in growth and cash flow generation is reflected in our substantial share repurchase activity so far this year, the significant increase in our share repurchase program as well as the previously announced 25% increase in our dividend for 2011.”
Key Stats: The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 8.2% and in the third quarter of the last fiscal year, the figure rose 50%.
Competitors to Watch: Marriott Intl., Inc. (NYSE:MAR), Royal Caribbean Cruises Ltd. (NYSE:RCL), Silverleaf Resorts, Inc. (NASDAQ:SVLF), Starwood Hotels & Resorts Worldwide, Inc (NYSE:HOT), Hyatt (NYSE:H), Intercontinental (NYSE:IHG), Bluegreen Corporation (NYSE:BXG) and Choice Hotels Intl., Inc. (NYSE:CHH).
Today’s Performance: Shares of WYN are trading at $33.14 as of April 27, 2011 at 8:13 AM ET, unchanged from the previous close.