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WYNDHAM HOTELS & RESORTS, INC.

2019 Q3 Form 10-Q Financial Statement

#000172268419000031 Filed on October 29, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3 2018 Q2
Revenue $560.0M $604.0M $435.0M
YoY Change -7.28% 74.06% 31.42%
Cost Of Revenue $321.0M $358.0M $238.0M
YoY Change -10.34% 125.16% 46.91%
Gross Profit $239.0M $246.0M $197.0M
YoY Change -2.85% 30.85% 16.57%
Gross Profit Margin 42.68% 40.73% 45.29%
Selling, General & Admin $76.00M $87.00M $73.00M
YoY Change -12.64% 31.82% 10.61%
% of Gross Profit 31.8% 35.37% 37.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.00M $30.00M $22.00M
YoY Change -16.67% 57.89% 15.79%
% of Gross Profit 10.46% 12.2% 11.17%
Operating Expenses $102.0M $117.0M $95.00M
YoY Change -12.82% 37.65% 11.76%
Operating Profit $91.00M $105.0M $39.00M
YoY Change -13.33% 2.94% -53.57%
Interest Expense $25.00M $24.00M $10.00M
YoY Change 4.17% 1100.0% 400.0%
% of Operating Profit 27.47% 22.86% 25.64%
Other Income/Expense, Net
YoY Change
Pretax Income $66.00M $81.00M $29.00M
YoY Change -18.52% -19.0% -64.63%
Income Tax $21.00M $23.00M $8.000M
% Of Pretax Income 31.82% 28.4% 27.59%
Net Earnings $22.00M $58.00M $21.00M
YoY Change -62.07% 0.0% -56.25%
Net Earnings / Revenue 3.93% 9.6% 4.83%
Basic Earnings Per Share $0.47 $0.58 $0.21
Diluted Earnings Per Share $0.47 $0.58 $0.21
COMMON SHARES
Basic Shares Outstanding 96.20M shares 99.80M shares 99.90M shares
Diluted Shares Outstanding 96.30M shares 100.1M shares 100.0M shares

Balance Sheet

Concept 2019 Q3 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $134.0M $387.0M $416.0M
YoY Change -65.37%
Cash & Equivalents $134.0M $387.0M $416.0M
Short-Term Investments
Other Short-Term Assets $67.00M $113.0M $95.00M
YoY Change -40.71%
Inventory
Prepaid Expenses $46.00M $41.00M $43.00M
Receivables $339.0M $309.0M $251.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $586.0M $850.0M $805.0M
YoY Change -31.06%
LONG-TERM ASSETS
Property, Plant & Equipment $310.0M $331.0M $331.0M
YoY Change -6.34%
Goodwill $1.539B $1.513B $1.532B
YoY Change 1.72%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $241.0M $267.0M $244.0M
YoY Change -9.74%
Total Long-Term Assets $4.044B $4.141B $4.129B
YoY Change -2.34%
TOTAL ASSETS
Total Short-Term Assets $586.0M $850.0M $805.0M
Total Long-Term Assets $4.044B $4.141B $4.129B
Total Assets $4.630B $4.991B $4.934B
YoY Change -7.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.00M $74.00M $76.00M
YoY Change -29.73%
Accrued Expenses $347.0M $532.0M $511.0M
YoY Change -34.77%
Deferred Revenue $94.00M $75.00M $97.00M
YoY Change 25.33%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $21.00M $21.00M $16.00M
YoY Change 0.0%
Total Short-Term Liabilities $514.0M $702.0M $700.0M
YoY Change -26.78%
LONG-TERM LIABILITIES
Long-Term Debt $2.106B $2.124B $2.129B
YoY Change -0.85%
Other Long-Term Liabilities $227.0M $150.0M $125.0M
YoY Change 51.33%
Total Long-Term Liabilities $227.0M $150.0M $125.0M
YoY Change 51.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $514.0M $702.0M $700.0M
Total Long-Term Liabilities $227.0M $150.0M $125.0M
Total Liabilities $3.388B $3.548B $3.498B
YoY Change -4.51%
SHAREHOLDERS EQUITY
Retained Earnings $77.00M $51.00M $18.00M
YoY Change 50.98%
Common Stock $1.000M $1.000M $1.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $289.0M $59.00M $0.00
YoY Change 389.83%
Treasury Stock Shares 5.500M shares 1.023M shares 0.000 shares
Shareholders Equity $1.112B $1.443B $1.436B
YoY Change
Total Liabilities & Shareholders Equity $4.630B $4.991B $4.934B
YoY Change -7.23%

Cashflow Statement

Concept 2019 Q3 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $22.00M $58.00M $21.00M
YoY Change -62.07% 0.0% -56.25%
Depreciation, Depletion And Amortization $25.00M $30.00M $22.00M
YoY Change -16.67% 57.89% 15.79%
Cash From Operating Activities $146.0M $68.00M $17.00M
YoY Change 114.71% -5.56% -70.18%
INVESTING ACTIVITIES
Capital Expenditures -$10.00M -$22.00M -$19.00M
YoY Change -54.55% 120.0% 58.33%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$3.000M -$1.653B
YoY Change -100.0% -84.21% 165200.0%
Cash From Investing Activities -$10.00M -$25.00M -$1.672B
YoY Change -60.0% -13.79% 12761.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -108.0M -72.00M 1.997B
YoY Change 50.0% 111.76% -4854.76%
NET CHANGE
Cash From Operating Activities 146.0M 68.00M 17.00M
Cash From Investing Activities -10.00M -25.00M -1.672B
Cash From Financing Activities -108.0M -72.00M 1.997B
Net Change In Cash 28.00M -29.00M 342.0M
YoY Change -196.55% -422.22% 17000.0%
FREE CASH FLOW
Cash From Operating Activities $146.0M $68.00M $17.00M
Capital Expenditures -$10.00M -$22.00M -$19.00M
Free Cash Flow $156.0M $90.00M $36.00M
YoY Change 73.33% 9.76% -47.83%

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2000000 USD
CY2018Q3 wh Concessionsofhotelmanagementfeesforpastservices
Concessionsofhotelmanagementfeesforpastservices
0 USD
CY2019Q3 wh Concessionsofhotelmanagementfeesforpastservices
Concessionsofhotelmanagementfeesforpastservices
20000000 USD
wh Concessionsofhotelmanagementfeesforpastservices
Concessionsofhotelmanagementfeesforpastservices
20000000 USD
CY2018Q3 wh Development Advances
DevelopmentAdvances
11000000 USD
wh Development Advances
DevelopmentAdvances
22000000 USD
CY2019Q3 wh Development Advances
DevelopmentAdvances
2000000 USD
wh Development Advances
DevelopmentAdvances
11000000 USD
wh Dividends Paidto Former Parent Company
DividendsPaidtoFormerParentCompany
90000000 USD
wh Dividends Paidto Former Parent Company
DividendsPaidtoFormerParentCompany
0 USD
CY2019Q3 wh Finance Lease Liability Payments Due After Year Six
FinanceLeaseLiabilityPaymentsDueAfterYearSix
38000000 USD
CY2019Q3 wh Finance Lease Liability Payments Due Year Six
FinanceLeaseLiabilityPaymentsDueYearSix
7000000 USD
CY2018Q2 wh Guarantees Postclosing Credit Support Liability
GuaranteesPostclosingCreditSupportLiability
41000000 USD
CY2018Q3 wh Interest Earned On Unpaid Franchisee Development Advance Notes
InterestEarnedOnUnpaidFranchiseeDevelopmentAdvanceNotes
0 USD
wh Interest Earned On Unpaid Franchisee Development Advance Notes
InterestEarnedOnUnpaidFranchiseeDevelopmentAdvanceNotes
1000000 USD
CY2019Q3 wh Interest Earned On Unpaid Franchisee Development Advance Notes
InterestEarnedOnUnpaidFranchiseeDevelopmentAdvanceNotes
0 USD
wh Interest Earned On Unpaid Franchisee Development Advance Notes
InterestEarnedOnUnpaidFranchiseeDevelopmentAdvanceNotes
1000000 USD
CY2019Q3 wh Lease Liability
LeaseLiability
94000000 USD
CY2019Q3 wh Lease Right Of Use Asset
LeaseRightOfUseAsset
71000000 USD
CY2019Q3 wh Lessee Operating Lease Liability Payments Due After Year Six
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearSix
13000000 USD
CY2019Q3 wh Lessee Operating Lease Liability Payments Due Year Six
LesseeOperatingLeaseLiabilityPaymentsDueYearSix
3000000 USD
CY2018Q2 wh Net Contributions From To Former Parent
NetContributionsFromToFormerParent
234000000 USD
CY2018Q3 wh Net Contributions From To Former Parent
NetContributionsFromToFormerParent
-1000000 USD
CY2018Q1 wh Net Transfers From To Former Parent
NetTransfersFromToFormerParent
-14000000 USD
CY2018Q2 wh Net Transfers From To Former Parent
NetTransfersFromToFormerParent
-24000000 USD
CY2019Q3 wh Numberof Owned Hotel Properties
NumberofOwnedHotelProperties
2 hotel
CY2018Q2 wh Postclosing Credit Support Assumed Shareof Incurred Losses
PostclosingCreditSupportAssumedShareofIncurredLosses
0.33
CY2018Q3 wh Proceedsfrom Development Advance Notes
ProceedsfromDevelopmentAdvanceNotes
1000000 USD
wh Proceedsfrom Development Advance Notes
ProceedsfromDevelopmentAdvanceNotes
11000000 USD
CY2019Q3 wh Proceedsfrom Development Advance Notes
ProceedsfromDevelopmentAdvanceNotes
1000000 USD
wh Proceedsfrom Development Advance Notes
ProceedsfromDevelopmentAdvanceNotes
1000000 USD
wh Revenue Recognition Period Cobranded Credit Card Program
RevenueRecognitionPeriodCobrandedCreditCardProgram
P1Y
wh Revenue Recognition Period Franchise Agreement
RevenueRecognitionPeriodFranchiseAgreement
P12Y
CY2019Q3 wh Separationand Distribution Agreement Assumed Shareof Contingent Liability
SeparationandDistributionAgreementAssumedShareofContingentLiability
0.33
CY2019Q3 wh Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Otherthan Options Nonvested Weighted Average Grant Date Exercise Price
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNonvestedWeightedAverageGrantDateExercisePrice
52.44
wh Sharebased Compensation Netof Parent Transfers
SharebasedCompensationNetofParentTransfers
17000000 USD
CY2019Q3 wh Termination Contract Number Of Hotel Properties
TerminationContractNumberOfHotelProperties
8 hotel
CY2018Q3 wh Transaction Related Costs
TransactionRelatedCosts
7000000 USD
wh Transaction Related Costs
TransactionRelatedCosts
37000000 USD
CY2019Q3 wh Transaction Related Costs
TransactionRelatedCosts
12000000 USD
wh Transaction Related Costs
TransactionRelatedCosts
30000000 USD
CY2018Q4 wh Treasury Stock Average Cost Per Share
TreasuryStockAverageCostPerShare
52.51
CY2019Q3 wh Treasury Stock Average Cost Per Share
TreasuryStockAverageCostPerShare
52.81
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In presenting the Condensed Consolidated and Combined Financial Statements, management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ from those estimates.</font></div></div>

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wh-20190930.xml Edgar Link completed
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