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Xenia Hotels & Resorts (XHR) Q4 FY2023 earnings: revenue $253 million, down 3.7% on the year

Xenia Hotels & Resorts, Inc. (XHR) reported revenue of $253 million for Q4 FY2023, the quarter ended 31 December 2023, down 3.7% on the same quarter a year earlier. Net income was $8 million, down 78.4% on the year, and diluted earnings per share $0.07. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.

Revenue$253 milliondown 3.7%
Net income$8 milliondown 78.4%
Diluted EPS$0.07
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue253232n/an/a
Cost of revenue178168n/an/a
Gross profit75.264.4n/an/a
Gross margin29.7%27.7%n/a
Operating income20.98.0n/an/a
Operating margin8.2%3.4%n/a
Interest expense20.720.5n/an/a
Pre-tax income3.9-10.5n/an/a
Income tax-3.9-1.6n/an/a
Effective tax rate-102.0%n/an/a
Net income7.6-8.5n/an/a
Net margin3.0%-3.7%n/a
Diluted EPS$0.07-$0.08n/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 flow60.137.3n/an/a
Capital expenditure51.435.5n/an/a
Free cash flow8.71.8n/an/a
Free cash flow margin3.4%0.8%n/a
Cash from investing-51.2-35.4n/an/a
Cash from financing-62.0-42.1n/an/a
Depreciation and amortisation31.733.1n/an/a
Share-based compensation3.33.3n/an/a
Buybacks49.025.0n/an/a
Dividends paid10.811.1n/an/a
Dividend per sharen/a$0.10n/an/a
Diluted shares, weighted108m107mn/an/a
Shares outstanding at period end102m106mn/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' equity1,2911,343n/an/a
Non-controlling interest26.527.7n/an/a
Debt1,3951,395n/an/a
Other liabilities190197n/an/a
Total liabilities and equity2,9022,963n/an/a
Goodwill4.8n/an/an/a
Intangible assets0.0n/an/an/a
Cash and equivalents165219n/an/a
Other assets2,7332,744n/an/a
Total assets2,9022,963n/an/a

Questions

What was Xenia Hotels & Resorts' revenue in Q4 FY2023?

Xenia Hotels & Resorts (XHR) reported revenue of $253 million for Q4 FY2023, the quarter ended 31 December 2023, down 3.7% on the same quarter a year earlier.

How much did Xenia Hotels & Resorts earn in Q4 FY2023?

Net income for Q4 FY2023 was $8 million, down 78.4% on the year, and diluted earnings per share $0.07.

When did Xenia Hotels & Resorts report Q4 FY2023 results?

Xenia Hotels & Resorts filed its 10-K for the year that ended with the quarter on 27 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
Revenue232253267273237262289288236266295295
Cost of revenue168178183186176186196191177185196198
Gross profit64.475.284.587.161.176.093.496.659.380.699.897.2
Gross margin28%30%32%32%26%29%32%34%25%30%34%33%
Operating income8.020.927.630.37.521.435.940.24.726.741.60.0
Operating margin3%8%10%11%3%8%12%14%2%10%14%0%
Interest expense20.520.720.420.220.120.121.121.921.821.920.920.5
Pre-tax income-10.53.99.712.0-8.0-0.517.459.9-15.26.222.2-19.7
Tax raten/a-102%8%-35%n/an/a5%2%n/a-3%5%n/a
Net income-8.57.68.515.3-7.1-0.615.655.2-13.76.119.8-19.3
Net margin-4%3%3%6%-3%-0%5%19%-6%2%7%-7%
Diluted EPS-$0.08$0.07$0.08$0.15-$0.07-$0.01$0.15$0.56-$0.14$0.07$0.21-$0.21
Operating cash flow37.360.124.757.251.230.654.836.364.021.445.051.4
Capital expenditure35.551.433.435.846.924.432.418.519.915.915.215.4
Free cash flow1.88.7-8.721.44.36.222.417.844.25.529.836.1
Buybacks25.049.06.30.01.97.635.835.712.336.60.00.0
Dividends paid11.110.810.412.512.5-35.00.50.10.0-0.00.80.0
Shares outstanding106m102m102m102m102m101m99m96m95m92m92m92m
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. 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 27 February 2024, accession 0001616000-24-000023: the filing on EDGAR. All of Xenia Hotels & Resorts, Inc.'s filings: EDGAR company page.

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