Choice Hotels International (CHH) Q2 FY2024 earnings: revenue $435 million, up 1.8% on the year

Choice Hotels International Inc. (CHH) reported revenue of $435 million for Q2 FY2024, the quarter ended 30 June 2024, up 1.8% on the same quarter a year earlier. Net income was $87 million, up 2.9% on the year, and diluted earnings per share $1.80. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2025.

Revenue$435 millionup 1.8%

Net income$87 millionup 2.9%

Diluted EPS$1.80

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	435	332	n/a	n/a
Selling, general and administrative	88.7	72.3	n/a	n/a
Operating income	133	60.1	n/a	n/a
Operating margin	30.5%	18.1%	n/a
Interest expense	23.8	20.2	n/a	n/a
Pre-tax income	117	40.2	n/a	n/a
Income tax	29.4	9.2	n/a	n/a
Effective tax rate	25.3%	22.9%	n/a
Net income	87.1	31.0	n/a	n/a
Net margin	20.0%	9.3%	n/a
Diluted EPS	$1.80	$0.62	n/a	n/a

$ million except per share.

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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	112	1.7	n/a	n/a
Capital expenditure	25.3	25.6	n/a	n/a
Free cash flow	86.6	-23.8	n/a	n/a
Free cash flow margin	19.9%	-7.2%	n/a
Cash from investing	-19.3	-42.7	n/a	n/a
Cash from financing	-75.0	56.5	n/a	n/a
Depreciation and amortisation	12.8	12.8	n/a	n/a
Share-based compensation	9.3	9.1	n/a	n/a
Buybacks	233	59.5	n/a	n/a
Dividends paid	14.1	14.7	n/a	n/a
Dividend per share	$0.29	$0.29	n/a	n/a
Diluted shares, weighted	48m	50m	n/a	n/a
Shares outstanding at period end	47m	49m	n/a	n/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

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	-147	6.7	n/a	n/a
Debt	1,868	1,695	n/a	n/a
Operating lease liabilities	110	111	n/a	n/a
Other liabilities	687	663	n/a	n/a
Total liabilities and equity	2,519	2,475	n/a	n/a
Fixed assets	541	518	n/a	n/a
Goodwill	220	220	n/a	n/a
Intangible assets	833	821	n/a	n/a
Cash and equivalents	60.4	42.1	n/a	n/a
Receivables	235	225	n/a	n/a
Other assets	629	649	n/a	n/a
Total assets	2,519	2,475	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023 †	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	426	358	332	435	428	390	333	426	447	390	341	441
SG&A	44.0	34.1	72.3	88.7	69.0	57.2	74.2	89.3	79.6	n/a	78.0	96.2
Operating income	135	37.7	60.1	133	152	119	79.9	125	142	101	60.0	104
Operating margin	32%	11%	18%	30%	35%	31%	24%	29%	32%	26%	18%	24%
Interest expense	16.2	17.3	20.2	23.8	22.0	21.1	21.2	22.7	23.5	23.7	24.0	24.3
Pre-tax income	121	35.7	40.2	117	137	102	59.8	109	211	77.6	30.3	85.9
Tax rate	24%	19%	23%	25%	23%	25%	25%	25%	15%	18%	33%	25%
Net income	92.0	29.0	31.0	87.1	106	75.8	44.5	81.7	180	63.7	20.3	64.3
Net margin	22%	8%	9%	20%	25%	19%	13%	19%	40%	16%	6%	15%
Diluted EPS	$1.81	$0.58	$0.62	$1.80	$2.22	$1.59	$0.94	$1.75	$3.86	$1.37	$0.44	$1.41
Operating cash flow	121	49.4	1.7	112	123	82.9	20.5	95.6	68.7	85.7	-23.2	90.5
Capital expenditure	35.7	23.1	25.6	25.3	30.4	25.5	35.5	30.2	19.6	21.6	16.8	10.5
Free cash flow	85.7	26.3	-23.8	86.6	92.6	57.4	-15.0	65.4	49.1	64.1	-40.0	80.1
Buybacks	69.9	58.4	59.5	233	56.3	31.8	64.6	48.1	0.2	25.3	56.5	51.0
Dividends paid	14.5	14.4	14.7	14.1	13.6	13.0	13.5	13.4	13.3	13.3	13.1	13.2
Shares outstanding	50m	50m	49m	47m	47m	47m	47m	46m	46m	46m	46m	45m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* 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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 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-Q for the period ended 30 June 2024, filed 6 August 2025, accession 0001046311-25-000023: the filing on EDGAR. All of Choice Hotels International Inc.'s filings: EDGAR company page.

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