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Actionable news in BEL: BELMOND Ltd.,

Belmond Ltd. Class A

Belmond Ltd. reports financial results for the quarter ended June 30, 2017.We analyze the earnings along side the following peers of Belmond Ltd. - Red Lion Hotels Corporation, Hyatt Hotels Corporation Class A, Marriott International, Inc. Class A, InterContinental Hotels Group PLC Sponsored ADR, Carnival Corporation, Royal Caribbean Cruises Ltd., Carnival plc Sponsored ADR and Cedar Fair, L.P. (RLH-US, H-US, MAR-US, IHG-US, CCL-US, RCL-US, CUK-US and FUN-US) that have also reported for this period.

  • Summary numbers: Revenues of USD 165.87 million, Net Earnings of USD -5.02 million.
  • Gross margins widened from 46.47% to 50.61% compared to the same period last year, operating (EBITDA) margins now 23.62% from 22.55%.
  • Year-on-year change in operating cash flow of -4.37% is about the same as the change in earnings, likely no significant movement in accruals or reserves.
  • Earnings declined although operating margins improved from 13.92% to 14.53%.

The table below shows the preliminary results and recent trends for key metrics such as revenues and net income growth:

Revenues (mil)165.995.4114.2183.7154.5
Revenue Growth (%YOY)7.4-2.1-6.99.1-3.9
Earnings (mil)-5-18.15.722.98.2
Earnings Growth (%YOY)-161.1-1136.9331.6120.6-46.9
Net Margin (%)-3-19512.45.3
Return on Equity (%)-0.726-2.60.823.31.2
Return on Assets (%)-1.3-

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BEL-US's change in revenue this period compared to the same period last year of 7.36% is almost the same as...