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- Ryman Hospitality Properties Inc RHP reported second-quarter FY21 revenue growth of 1063% year-on-year, to $170.9 million, beating the analyst consensus of $144.18 million.
- Adjusted FFO per share was $(0.03), versus $(1.65) last year.
- Operating expenses rose 29.8% Y/Y to $201.8 million.
- The operating loss narrowed by 78% Y/Y to $(30.9) million.
- The average monthly cash burn was about $1 million.
- The company held $88.6 million in cash and equivalents as of June 30, 2021.
- It reported an Adjusted EBITDAre of $28.2 million and an adjusted EBITDAre margin of 16.5%.
- "The momentum continues to build and is not limited to leisure customers, as evidenced by the over 114,000 group room nights serviced in the second quarter," said CEO Colin Reed.
- Ryman Hospitality currently expects Q3 cash flow to continue the positive momentum seen in June.
- Price action: RHP shares are trading lower by 0.58% at $75.51 on the last check Tuesday.
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