Hall of Fame Resort & Entertainment Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Hall of Fame Resort & Entertainment (NASDAQ:HOFV) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$4.70m (down 23% from 2Q 2023).
• Net loss: US$15.8m (loss widened by 16% from 2Q 2023).
• US$2.41 loss per share (further deteriorated from US$2.40 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Hall of Fame Resort & Entertainment EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 22%. Earnings per share (EPS) exceeded analyst estimates by 9.7%.

Looking ahead, revenue is forecast to grow 52% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in the US.

Performance of the American Hospitality industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We should say that we've discovered 3 warning signs for Hall of Fame Resort & Entertainment (1 doesn't sit too well with us!) that you should be aware of before investing here.

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