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Apple Hospitality Reit (APLE) Q4 FY2023 earnings: revenue $312 million, up 4.5% on the year

Apple Hospitality Reit, Inc. (APLE) reported revenue of $312 million for Q4 FY2023, the quarter ended 31 December 2023, up 4.5% on the same quarter a year earlier. Net income was $21 million, up 798.1% on the year, and diluted earnings per share $0.09. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.

Revenue$312 millionup 4.5%
Net income$21 millionup 798.1%
Diluted EPS$0.09
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue312358n/an/a
Cost of revenue191204n/an/a
Gross profit121155n/an/a
Gross margin38.8%43.1%n/a
Operating income38.976.3n/an/a
Operating margin12.5%21.3%n/a
Pre-tax income21.058.8n/an/a
Income tax0.30.3n/an/a
Effective tax rate1.2%0.5%n/a
Net income20.858.5n/an/a
Net margin6.6%16.3%n/a
Diluted EPS$0.09$0.26n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow96.9132n/an/a
Capital expenditure22.714.3n/an/a
Free cash flow74.2117n/an/a
Free cash flow margin23.7%32.8%n/a
Cash from investing-279-19.0n/an/a
Cash from financing156-81.7n/an/a
Depreciation and amortisation45.845.5n/an/a
Buybacks0.00.0n/an/a
Dividends paid55.254.8n/an/a
Dividend per sharen/a$0.24n/an/a
Diluted shares, weighted230m229mn/an/a
Shares outstanding at period end242m229mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity3,3243,174n/an/a
Debt1,3711,373n/an/a
Other liabilities242217n/an/a
Total liabilities and equity4,9374,764n/an/a
Cash and equivalents10.335.4n/an/a
Other assets4,9274,729n/an/a
Total assets4,9374,764n/an/a

Questions

What was Apple Hospitality Reit's revenue in Q4 FY2023?

Apple Hospitality Reit (APLE) reported revenue of $312 million for Q4 FY2023, the quarter ended 31 December 2023, up 4.5% on the same quarter a year earlier.

How much did Apple Hospitality Reit earn in Q4 FY2023?

Net income for Q4 FY2023 was $21 million, up 798.1% on the year, and diluted earnings per share $0.09.

When did Apple Hospitality Reit report Q4 FY2023 results?

Apple Hospitality Reit filed its 10-K for the year that ended with the quarter on 22 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue358312330390379333328384374326338403
Cost of revenue204191197216220204200221222205207228
Gross profit155121132174159129128164152122131175
Gross margin43%39%40%45%42%39%39%43%41%37%39%43%
Operating income76.338.971.693.577.749.950.984.972.549.648.088.2
Operating margin21%12%22%24%21%15%16%22%19%15%14%22%
Pre-tax income58.821.054.374.156.530.131.563.951.129.927.967.3
Tax rate1%1%0%0%0%1%1%0%0%1%1%0%
Net income58.520.854.073.956.329.831.263.650.929.627.767.1
Net margin16%7%16%19%15%9%10%17%14%9%8%17%
Diluted EPS$0.26$0.09$0.22$0.31$0.23$0.12$0.13$0.27$0.21$0.13$0.12$0.28
Operating cash flow13296.954.712712895.249.110912685.848.9125
Capital expenditure14.322.720.312.315.130.619.612.617.438.627.512.3
Free cash flow11774.234.411511364.629.596.210947.221.4113
Buybacks0.00.00.015.519.20.026.316.92.013.10.00.0
Dividends paid54.855.270.258.057.757.969.657.156.856.956.656.6
Shares outstanding229m242m242m241m240m240m238m237m237m236m236m236m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 22 February 2024, accession 0000950170-24-018793: the filing on EDGAR. All of Apple Hospitality Reit, Inc.'s filings: EDGAR company page.

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