Service Properties Trust Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 07, 2023 at 04:26 pm EDT
Share
Service Properties Trust reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 99.45 million compared to USD 96.79 million a year ago. Revenue was USD 503.78 million compared to USD 515.78 million a year ago. Net loss was USD 11.28 million compared to net income of USD 11.35 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to basic earnings per share from continuing operations of USD 0.07 a year ago.
For the six months, sales was USD 193.87 million compared to USD 193.15 million a year ago. Revenue was USD 932.99 million compared to USD 909.54 million a year ago. Net income was USD 14.67 million compared to net loss of USD 108.47 million a year ago. Basic earnings per share from continuing operations was USD 0.09 compared to basic loss per share from continuing operations of USD 0.66 a year ago.
Service Properties Trust is a real estate investment trust. The Company operates through two segments: hotel investments and net lease investments. It owns a portfolio of hotels and net lease service and necessity-based retail properties. The Company owns over 221 hotels with approximately 37,000 rooms or suites located in over 36 states, in the District of Columbia, Ontario, Canada and San Juan, Puerto Rico. It owns approximately 752 service-oriented retail properties with over 13.3 million square feet located in approximately 42 states. The Companyâs net lease portfolio is occupied by over 175 tenants, which is operating approximately 137 brands in over 21 industries. The Company's net lease portfolio is leased to tenants that include travel centers, quick service and casual dining restaurants, movie theaters, health and fitness centers, grocery stores, automotive parts and services and other businesses in service-oriented and necessity-based industries.