Hilton Worldwide Holdings Inc. experienced a decline in its stock during premarket trading after announcing its 2024 earnings guidance, which did not meet analysts' expectations. The hotel chain reported that its projections for 2024 fell short as travel demand has normalized following the pandemic's volatility. Despite beating on earnings per share (EPS) and reporting revenue that was in line with expectations, the company's forecast for the upcoming year was considered light, leading to a 3.8% drop in its premarket stock value. The softer US leisure travel market is anticipated to impact Hilton's 2024 profit, as the company also faces rising expenses.
Hilton Worldwide 2024 profit forecast squeezed by rising expenses https://t.co/fYY7lKAphL https://t.co/i13TVVxYOg
$HLT (-0.8% pre) Hilton’s 2024 Earnings Forecast Falls Short of Analyst Estimates - BBG https://t.co/Ro8IpgGaRD
Hilton Worldwide sees softer US leisure travel hitting 2024 profit https://t.co/u8eo7RVhb4 https://t.co/bLydbamRE8
Hilton reports projections for 2024 that fall short of expectations, as travel demand normalized following the ups and downs since the start of the pandemic https://t.co/uawCRJLuCW
$HLT Hilton beats on eps, rev in-line. FY24 guidance light. -3.8% premkt https://t.co/OG5pTOHbB4
Hilton’s stock slides premarket after 2024 guidance falls short of estimates https://t.co/0RFhttTzrD