Chesapeake Lodging Trust Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the First Quarter of 2016 and Fiscal 2016
For the year, the company reported total revenue of $582,624,000, operating income of $101,959,000, income before income tax of $70,103,000, net income attributable to common shareholders of $57,820,000 or $0.99 per diluted share against total revenue of $477,980,000, operating income of $81,832,000, income before income tax of $61,489,000, net income attributable to common shareholders of $51,266,000 or $1 per diluted share a year ago. Net cash provided by operating activities was $151,713,000 against $119,634,000 a year ago. Acquisition of hotels, net of cash acquired was $255,249,000 against $152,292,000 a year ago. AFFO available to common shareholders was $147,070,000 or $2.50 per basic and diluted share against $152,820,000 or $2.60 respectively a year ago.
The company expects net income available to common shareholders of $3.4 million or $0.06 per diluted share to $5.1 million or $0.09 per diluted share, adjusted corporate EBITDA of $31.2 million to 32.7 million, AFFO available to common shareholders of $21.8 million or $0.37 per diluted share to $23.6 million or $0.40 per diluted share for the first quarter of 2016.
The company expects net income available to common shareholders of $72.9 million or $1.24 per diluted share to $78.6 million or $1.34 per diluted share, adjusted corporate EBITDA of $193.6 million to 200.1 million, AFFO available to common shareholders of $147.1 million or $2.50 per diluted share to $152.8 million or $2.60 per diluted share for the fiscal 2016.