Month: February 2024

TYSONS, Va., Feb. 27, 2024 (GLOBE NEWSWIRE) — Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today announced results for the fourth quarter and full year ended December 31, 2023 and provided an operational update. Selected Statistical and Financial Information (unaudited, amounts in millions, except RevPAR, ADR, Total RevPAR and per share data)  Three Months Ended December 31,   Year Ended December 31,    2023       2022     Change(1)     2023       2022     Change(1)Comparable RevPAR $ 178.25     $ 171.21     4.1 %   $ 178.62     $ 164.33     8.7 %Comparable Occupancy   71.0 %     69.5 %   1.5 %pts     72.7 %     67.8 %   4.9 %ptsComparable ADR $ 250.93     $ 246.35     1.9 %   $ 245.80     $ 242.61     1.3 %                           Comparable Total RevPAR $ 287.21     $ 273.91     4.9 %   $ 285.50     $ 259.19     10.2 %                           Net...

— Implemented 2024 Business Plan Focused on Deleveraging the Company’s Balance Sheet Through $400 to $600 million of Strategic Dispositions; Released Full Year 2024 Guidance— Recognized $68 Million in Annualized Synergies Through Year End and On Track to Recognize the Full $75 Million Balance by Third Quarter 20241— Continued Leasing Momentum Into 2024 With 70 New Leases and Renewals Completed for Over 2.1 Million Square Feet, Resulting In Over $19 Million of Net New Straight-Line Rent and a Renewal Spread of 6% Across the Portfolio in the Fourth Quarter— In Fourth Quarter 2023, New Leases That Were Completed Have a Weighted Average Lease Term of 9.2 Years, Renewals That Were Completed Have a Weighted Average Lease Term of 6.1 Years and the Portfolio Maintained a 96% Occupancy Rate     NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) —...

HOUSTON, Feb. 27, 2024 (GLOBE NEWSWIRE) — Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific” or the “Company”) today reported its financial results for the fourth quarter and twelve months ended December 31, 2023.Fourth quarter Net Income of $289.3 million, or $4.77 per diluted share; Adjusted Net Income of $65.2 million, or $1.08 per diluted share; Adjusted EBITDA of $122.0 million Full year Net Income of $728.6 million, or $11.94 per diluted share; Record Adjusted Net Income of $501.2 million, or $8.21 per diluted share; Adjusted EBITDA of $696.2 millionPar Pacific reported net income of $728.6 million, or $11.94 per diluted share, for the twelve months ended December 31, 2023, compared to $364.2 million, or $6.08 per diluted share, for the twelve months ended December 31, 2022. Full year 2023 net income includes a deferred...

BOSTON, Feb. 27, 2024 (GLOBE NEWSWIRE) — The Boston Beer Company, Inc. (NYSE: SAM), today reported financial results for its fourth quarter and full fiscal year 2023 that ended December 30, 2023. The 2023 fiscal fourth quarter included 13 weeks and is compared to the 2022 fiscal fourth quarter, which included 14 weeks. The 2023 full fiscal year included 52 weeks and is compared to the 2022 full fiscal year, which included 53 weeks. Key results were: Fourth Quarter 2023 Summary:Depletions decreased 9%. Depletions decreased 1% on a 13-week comparable basis Shipments decreased 12.2%. Shipments decreased 3.5% on a 13-week comparable basis Net revenue of $393.7 million decreased 12.0%. Net revenue decreased 3.1% on a 13-week comparable basis Gross margin of 37.6%, up 60 basis points year over year Net loss of $18.1 million GAAP diluted...

WYOMISSING, Pa., Feb. 27, 2024 (GLOBE NEWSWIRE) — Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI” or the “Company”) today announced record results for the fourth quarter and year-ended December 31, 2023. Financial Highlights    Three Months Ended December 31, Year Ended December 31,  (in millions, except per share data)   2023 Actual   2022 Actual 2023 Actual   2022 Actual  Total Revenue   $ 369.0   $ 336.4 $ 1,440.4   $ 1,311.7  Income From Operations   $ 295.3   $ 275.5 $ 1,068.7   $ 1,029.9  Net income   $ 217.3   $ 199.6 $ 755.4   $ 703.3  FFO (1) (4)   $ 282.2   $ 258.8 $ 1,015.8   $ 887.3  AFFO (2) (4)   $ 256.6   $ 239.1 $ 1,006.8   $ 924.4  Adjusted EBITDA (3) (4)   $ 331.4   $ 312.0 $ 1,307.1   $ 1,221.7  Net income, per diluted common share and OP units (4)   $ 0.78   $ 0.75 $ 2.77   $ 2.70  FFO,...

–   GAAP EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS OF $0.12   – –   DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $0.26   – –   DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS’ EQUITY OF 7.5%   – NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) — Ready Capital Corporation (“Ready Capital” or the “Company”) (NYSE: RC), a multi-strategy real estate finance company that originates, acquires, finances, and services lower-to-middle-market (“LMM”) investor and owner occupied commercial real estate loans, today reported financial results for the quarter ended December 31, 2023. “We continue to make progress on our business strategy of repositioning the capital acquired in our merger with Broadmark Realty Capital into our core lending strategies despite current challenges in the commercial real estate sector,”...

3Q Revenue of $97.5 million, up 31% on a reported and 22% on a functional currency basis vs. prior year, driven by Interactive segment and Low Margin Gaming Hardware Sales Completed restatement of the Company’s previously issued financial statements1 Unveiled Hybrid Dealer®, a revolutionary new iGaming product Entered agreement with the National Basketball Association (“NBA”) to develop NBA-themed Virtual Sports games Expect Fourth Quarter Revenue and Adjusted EBITDA to be in-line with current consensus estimates Repurchased 121,847 shares, bringing total shares repurchased to approximately 1.2 million since the Company’s Share Repurchase Program was announced in May 2022NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) — Inspired Entertainment, Inc. (“Inspired” or the “Company”) (NASDAQ: INSE), a leading B2B provider of gaming content,...