The company earned $48 million in the third quarter, or 3 cents per share, compared with $21 million in last year's third quarter, or 6 cents per share. The company reported 2002 third quarter revenue of $934 million, compared with $942 million in the 2001 period.
Factors contributing to the higher earnings, the company said, included growth in revenue-per-available-room driven by high occupancy levels at most of the company's owned city-center properties, market share increases for all Hilton brands, a decline in interest expense, and the reduced income tax provision.
Earnings before interest, taxes, depreciation, amortization and non-cash items totaled $224 million, compared with $237 million in the 2001 quarter.
In early afternoon trading Wednesday, Hilton's stock stood at $11.72, down $0.28 for the day and well below its 52-week high of $17.09, achieved in April.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
