DiamondRock Hospitality (DRH) Q3 FY2023 earnings: revenue $277 million, up 3.1% on the year

DiamondRock Hospitality Co. (DRH) reported revenue of $277 million for Q3 FY2023, the quarter ended 30 September 2023, up 3.1% on the same quarter a year earlier. Net income was $27 million, down 4.2% on the year, and diluted earnings per share $0.12. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2023.

Revenue$277 millionup 3.1%

Net income$27 milliondown 4.2%

Diluted EPS$0.12

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	277	n/a	n/a	n/a
Operating income	42.8	n/a	n/a	n/a
Operating margin	15.5%	n/a	n/a
Interest expense	16.0	n/a	n/a	n/a
Pre-tax income	27.6	n/a	n/a	n/a
Income tax	0.2	n/a	n/a	n/a
Effective tax rate	0.8%	n/a	n/a
Net income	27.3	n/a	n/a	n/a
Net margin	9.9%	n/a	n/a
Diluted EPS	$0.12	n/a	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.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	70.3	n/a	n/a	n/a
Capital expenditure	19.5	n/a	n/a	n/a
Free cash flow	50.7	n/a	n/a	n/a
Free cash flow margin	18.3%	n/a	n/a
Cash from investing	-49.9	n/a	n/a	n/a
Cash from financing	-11.2	n/a	n/a	n/a
Share-based compensation	2.0	n/a	n/a	n/a
Buybacks	0.0	n/a	n/a	n/a
Dividends paid	6.4	n/a	n/a	n/a
Dividend per share	$0.03	n/a	n/a	n/a
Diluted shares, weighted	212m	n/a	n/a	n/a
Shares outstanding at period end	210m	n/a	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	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	1,644	n/a	n/a	n/a
Non-controlling interest	6.7	n/a	n/a	n/a
Debt	1,179	n/a	n/a	n/a
Other liabilities	426	n/a	n/a	n/a
Total liabilities and equity	3,256	n/a	n/a	n/a
Fixed assets	2,766	n/a	n/a	n/a
Cash and equivalents	103	n/a	n/a	n/a
Other assets	388	n/a	n/a	n/a
Total assets	3,256	n/a	n/a	n/a

Questions

What was DiamondRock Hospitality's revenue in Q3 FY2023?

DiamondRock Hospitality (DRH) reported revenue of $277 million for Q3 FY2023, the quarter ended 30 September 2023, up 3.1% on the same quarter a year earlier.

How much did DiamondRock Hospitality earn in Q3 FY2023?

Net income for Q3 FY2023 was $27 million, down 4.2% on the year, and diluted earnings per share $0.12.

When did DiamondRock Hospitality report Q3 FY2023 results?

DiamondRock Hospitality filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 3 November 2023.

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	277	264	256	309	285	279	255	306	285	275	258	318
Operating income	42.8	26.4	22.4	41.0	43.0	4.6	24.8	56.1	43.8	37.9	28.6	73.3
Operating margin	15%	10%	9%	13%	15%	2%	10%	18%	15%	14%	11%	23%
Interest expense	16.0	16.4	16.2	16.2	17.0	16.1	15.2	14.9	17.1	15.7	14.7	14.4
Pre-tax income	27.6	10.9	7.3	26.0	27.0	-10.5	11.1	42.0	23.1	24.5	14.6	92.4
Tax rate	1%	-1%	-15%	5%	2%	n/a	-8%	2%	2%	-8%	0%	2%
Net income	27.3	10.9	8.3	24.5	26.4	-11.2	11.9	40.8	22.5	26.2	14.5	90.5
Net margin	10%	4%	3%	8%	9%	-4%	5%	13%	8%	10%	6%	28%
Diluted EPS	$0.12	$0.04	$0.03	$0.10	$0.11	-$0.06	$0.04	$0.18	$0.10	$0.12	$0.07	$0.44
Operating cash flow	70.3	52.9	31.2	55.7	61.7	75.8	27.6	73.6	74.6	67.9	21.9	79.6
Capital expenditure	19.5	18.9	18.9	16.9	22.6	23.2	25.6	15.7	19.7	20.6	20.8	19.4
Free cash flow	50.7	34.0	12.4	38.8	39.0	52.6	2.0	57.9	54.9	47.3	1.1	60.1
Buybacks	0.0	0.0	0.0	20.6	5.4	0.0	11.1	12.6	11.8	1.6	0.0	1.9
Dividends paid	6.4	6.4	6.5	6.4	6.4	6.3	48.6	16.7	16.6	16.4	25.2	18.5
Shares outstanding	210m	210m	210m	208m	207m	208m	207m	205m	204m	204m	205m	205m
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. 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 September 2023, filed 3 November 2023, accession 0001298946-23-000093: the filing on EDGAR. All of DiamondRock Hospitality Co.'s filings: EDGAR company page.

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