GreenTree Hospitality Group Second Quarter 2024 Earnings: Misses Expectations

GreenTree Hospitality Group (NYSE:GHG) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥329.7m (down 21% from 2Q 2023).
• Net income: CN¥61.7m (down 50% from 2Q 2023).
• Profit margin: 19% (down from 30% in 2Q 2023). The decrease in margin was driven by lower revenue.
• EPS: CN¥0.61 (down from CN¥1.22 in 2Q 2023).

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

GreenTree Hospitality Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 27%. Earnings per share (EPS) also missed analyst estimates by 50%.

Looking ahead, revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US.

Performance of the American Hospitality industry.

The company's shares are up 3.7% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on GreenTree Hospitality Group's balance sheet.

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