Huazhu Group Q3 Earnings Top Estimates

by Shivani Kumaresan, Benzinga Staff Writer

November 24, 2021 9:29 AM | 1 min read | Make a Comment

Huazhu Group Ltd HTHT reported third-quarter FY21 sales growth of 11.6% year-on-year, to RMB3.5 billion ($547 million), beating the analyst consensus of $487.65 million.
The operating costs and expenses rose 15.1% Y/Y to RMB3.5 billion.
The operating margin was 2%, and operating income for the quarter was RMB72 million ($10 million).
The company held RMB5.4 billion ($836 million) in cash and equivalents as of September 30, 2021.
Operating cash flow for the quarter was RMB192 million ($29 million).
Adjusted EPS loss of $(0.02) beat the analyst consensus of $(0.03).
Outlook: Huazhu sees Q4 revenue growth of 6% - 10%.
The company expects FY21 revenue growth of 22% - 26%.
Price Action: HTHT shares are trading lower by 3.79% at $43.76 in premarket on the last check Wednesday.