Chesapeake Lodging Trust Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Reaffirms Consolidated Earnings Guidance for the Second Quarter Ending June 30, 2018 and Full Year Ending December 31, 2018
The company reaffirmed consolidated earnings guidance for the second quarter ending June 30, 2018 and full year ending December 31, 2018. For the second quarter ending June 30, 2018, the company expects net income of $22,520,000 to $24,520,000, Depreciation and amortization expected to $18,940,000 to $18,940,000, FFO expected to $41,460,000 to $43,460,000, FFO available to common shareholders expected to $41,340,000 to $43,340,000, AFFO available to common shareholders expected to $41,390,000 to $43,390,000, Basic FFO per share expected to $0.70 to $0.73, Diluted FFO per share expected to $0.69 to $0.73, Basic AFFO per share expected to $0.70 to $0.73 and Diluted AFFO per share expected to $0.69 to $0.73. Net income available to common shareholders expected to $22.4 million to $24.4 million, net income per diluted common share expected to $0.37 to $0.41 and adjusted Corporate EBITDAre expected to $52.6 million to $54.8 million.
For the year ending December 31, 2018, the company expects net income of $63,380,000 to $69,880,000, Depreciation and amortization expected to $75,000,000 to $75,000,000, FFO expected to $138,380,000 to $144,880,000, FFO available to common shareholders expected to $137,900,000 to $144,400,000, AFFO available to common shareholders expected to $138,120,000 to $144,620,000, Basic FFO per share expected to $2.33 to $2.44, Diluted FFO per share expected to $2.32 to $2.43, Basic AFFO per share expected to $2.34 to $2.45 and Diluted AFFO per share expected to $2.33 to $2.43. Net income available to common shareholders expected to $62.9 million to $69.4 million, net income per diluted common share expected to $1.06 to $1.17 and adjusted Corporate EBITDAre expected to $175.5 million to $183.0 million.