WH earnings analysis
What we found in WH's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Wyndham Hotels & Resorts delivered a solid Q1 2026, surpassing revenue expectations of $321.75 million with reported revenue of $327 million, alongside an EPS of $0.96 against an estimate of $0.86. However, the net income remained flat at $61 million compared to the same quarter last year, indicating sustainable revenues despite rising operational costs.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth Continues
- Reported revenue of $327 million represents a 3% increase from $316 million in Q1 2025.
- EPS Surpass Consensus
- Diluted EPS reached $0.96, exceeding the estimate of $0.86 and up from $0.78 in Q1 2025.
- Adjusted EBITDA Improvement
- Adjusted EBITDA increased to $156 million, up 8% from $145 million in Q1 2025.
- Ancillary Revenue Boost
- Ancillary revenues grew by $15 million due to higher loyalty and credit card program revenues.
- Room Growth Across Segments
- Total rooms grew 4% to 869,300, with international rooms growing by 9%.
- Cost Control Improvements
- Total operational expenses increased by only 4%, showing better cost management despite rising higher expenses.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Fluctuating Interest Expenses
- Interest expense rose to $34 million, a 3% increase, driven by higher average debt balance.
- Economic Uncertainty,
- Ongoing inflation and economic conditions pose risks to consumer travel spending.
- Franchise Fee Decrease Risk
- Franchise fee revenues experienced a $12 million decrease due to lower franchise fees, posing concerns for profit margins.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.96
What they said about what is next.
Management anticipates strong leisure travel demand continuing.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 19, 2026
- Wyndham positions itself as the world’s largest hotel franchisor (over 8,300 affiliated hotels and ~869,000 rooms) operating an asset-light, fee-based model that generated Hotel Franchising adjusted EBITDA of $781…
- 10-Q · October 23, 2025
- Wyndham reported Q3 net revenues of $382 million (down $14 million or -3.5% year-over-year from $396 million) while operating income improved to $178 million (up $7 million YoY) and diluted EPS rose to $1.36 (from…
- 10-Q · May 1, 2025
- Wyndham reported Q1 net revenues of $316 million (vs. $305 million in Q1 2024) and operating income of $112 million (vs. $50 million in Q1 2024), driving net income of $61 million and diluted EPS of $0.78. The company…
- 10-K · February 15, 2024
- Wyndham Hotels & Resorts presents an asset-light, scale-driven franchising model with approximately 9,200 affiliated hotels and ~872,000 rooms across 24 brands, supported by a 106 million-member Wyndham Rewards program.…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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