DiamondRock Hospitality (DRH) FY2024 results: revenue $1.1 billion, up 5.1% on the year

DiamondRock Hospitality Co. (DRH) reported revenue of $1.1 billion for fiscal 2024, the year ended 31 December 2024, up 5.1% on the year before. Net income was $48 million, down 44.4%, and diluted earnings per share $0.18. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.

Revenue

$1.1 billion

+5.1% on the year

FY2017FY2024

Operating margin

9.8%

13.9% a year earlier

FY2017FY2024

Net income

$48 million

-44.4% on the year

FY2017FY2024

Diluted EPS

$0.18

-50.0% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,130	1,075	1,002	+5.1%
Operating income	111	149	162	-25.8%
Operating margin	9.8%	13.9%	16.2%
Interest expense	65.5	65.1	38.3	+0.7%
Pre-tax income	49.8	87.0	112	-42.7%
Income tax	1.5	0.3	2.6	+386.1%
Effective tax rate	3.1%	0.4%	2.3%
Net income	48.0	86.3	109	-44.4%
Net margin	4.3%	8.0%	10.9%
Diluted EPS	$0.18	$0.36	$0.47	-50.0%

$ 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

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	224	238	206	-5.5%
Capital expenditure	81.6	86.3	67.7	-5.5%
Free cash flow	143	151	139	-5.6%
Free cash flow margin	12.6%	14.1%	13.8%
Cash from investing	-112	-121	-249
Cash from financing	-151	-56.7	74.0
Share-based compensation	12.0	8.8	7.8	+37.0%
Buybacks	26.0	2.4	12.3	+972.8%
Dividends paid	25.6	31.9	6.4	-19.8%
Dividend per share	$0.32	$0.12	$0.09	+166.7%
Diluted shares, weighted	211m	212m	213m	-0.5%
Shares outstanding at period end	208m	210m	209m	-1.0%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,590	1,642	1,590	-3.2%
Non-controlling interest	8.7	6.9	6.3	+25.9%
Debt	1,095	1,177	1,186	-6.9%
Other liabilities	478	413	426	+15.8%
Total liabilities and equity	3,172	3,239	3,208	-2.1%
Fixed assets	2,631	2,755	2,748	-4.5%
Cash and equivalents	81.4	122	67.6	-33.1%
Other assets	460	362	392	+27.0%
Total assets	3,172	3,239	3,208	-2.1%

10-K for the year ended 31 December 2024, filed 28 February 2025: the filing.