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Park Hotels & Resorts (PK) FY2024 results: revenue $2.6 billion, down 3.7% on the year

Park Hotels & Resorts Inc. (PK) reported revenue of $2.6 billion for fiscal 2024, the year ended 31 December 2024, down 3.7% on the year before. Net income was $212 million, up 118.6%, and diluted earnings per share $1.01. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2025.

Revenue
$2.6 billion
-3.7% on the year
FY2017FY2024
Operating margin
15.0%
12.7% a year earlier
FY2017FY2024
Net income
$212 million
+118.6% on the year
FY2017FY2024
Diluted EPS
$1.01
+129.5% 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)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue2,5992,6982,501-3.7%
Operating income391343296+14.0%
Operating margin15.0%12.7%11.8%
Interest expense214207217+3.4%
Pre-tax income165144173+14.6%
Income tax-61.038.00.0
Effective tax rate-37.0%26.4%0.0%
Net income21297.0162+118.6%
Net margin8.2%3.6%6.5%
Diluted EPS$1.01$0.44$0.71+129.5%
$ million except per share.
Read moreFree 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow429503409-14.7%
Capital expenditure227285168-20.4%
Free cash flow202218241-7.3%
Free cash flow margin7.8%8.1%9.6%
Cash from investing-166-21787.0
Cash from financing-573-475-320
Depreciation and amortisation257287269-10.5%
Share-based compensation19.018.017.0+5.6%
Buybacks116180227-35.6%
Dividends paid5121527.0+236.8%
Dividend per share$1.40$2.15$0.28-34.9%
Diluted shares, weighted209m215m228m-2.8%
Shares outstanding at period end203m210m224m-3.5%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity3,6453,8144,339-4.4%
Non-controlling interest-51.0-46.0-48.0
Debt3,8653,7864,644+2.1%
Other liabilities1,7021,865796-8.7%
Total liabilities and equity9,1619,4199,731-2.7%
Fixed assets7,3987,4598,301-0.8%
Intangible assets41.042.043.0-2.4%
Cash and equivalents402717906-43.9%
Other assets1,3201,201481+9.9%
Total assets9,1619,4199,731-2.7%

10-K for the year ended 31 December 2024, filed 20 February 2025: the filing.