EarningsQ2 2026 Earnings Report
DE:PD0 Q2 2026 EPS Results
Actual EPS€0.15
Consensus EPS€0.11
Beat/MissBeat by +€0.04
One Year Ago EPS€0.05
DE:PD0 Q2 2026 Revenue Results
Actual Revenue€363.10M
Expected Revenue€356.77M
Beat/MissBeat by +€6.33M
YoY Revenue Growth-0.10%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
DE:PD0 Upcoming Earnings
Pebblebrook Hotel's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:PD0 Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational execution, material beat versus guidance, significant resort and key market recoveries (notably San Francisco), disciplined capital allocation and upgraded full-year guidance. Offsetting these positives were urban-market volatility (San Diego, Washington, D.C.), softer group/banquet revenues in select cities, modest net benefit from event-driven demand (World Cup), and ongoing macro/geopolitical uncertainties. On balance, the company showcased meaningful margin expansion, cash flow improvement and balance sheet progress while acknowledging localized challenges and external risks.Company Guidance
Outperformance vs. Guidance
Exceeded the high end of outlook across every key earnings metric for the second consecutive quarter: same-property hotel EBITDA $123.3M (+7.1%, $6.6M above high end), adjusted EBITDA $116.2M ($6.2M above high end) and adjusted FFO per diluted share $0.68 (+$0.06 above high end).
Strong Top-Line and Mix Improvement
Portfolio occupancy +130 basis points to 79.4%; ADR +4.7%; RevPAR +6.5%; total RevPAR +4.7% with nearly 75% of RevPAR growth driven by rate (pricing) rather than occupancy.
Resort Segment Leadership
Resort RevPAR +12.0%, total RevPAR +10.9%; resort hotel EBITDA +18.5% with 216 bps of margin expansion. Resorts contributed ~$16.5M of the portfolio's $18.3M revenue increase and an $8.9M EBITDA gain that offset urban market weakness.
Notable Property-Level Gains
Applied: occupancy +11 points, RevPAR +33.9%, EBITDA +28.8%. Paradise Point RevPAR +22% and EBITDA >+40%. Newport RevPAR +20.3% (ADR +13.5%) with ~26% EBITDA growth. Estancia RevPAR +22.8% and EBIT +54.7%.
San Francisco and Los Angeles Recoveries
San Francisco: occupancy +~500 bps, ADR +~9%, RevPAR +16%, hotel EBITDA +24.6% (≈250 bps margin expansion); YTD EBITDA at 7 SF hotels up >$13M (+110% YoY). Los Angeles: RevPAR +8.6%, hotel EBITDA +~14%, YTD EBITDA +~$6M (+73%).
Expense Discipline and Margin Expansion
Converted 4.8% total revenue growth into 7.1% same-property hotel EBITDA growth; same-property total expenses +3.8%; margin expanded 67 bps to 30.6%. Rooms expense +3.1%; per occupied room expenses +2%; energy costs +2.7% (flat YTD).
Capital Allocation and Balance Sheet Progress
Invested $12.5M in quarter (on track for $65–$75M FY). Sold assets (~$160M across 3 hotels over 8 months at 15.4x EBITDA, 4.6% NOI cap). Repurchased 0.9M common shares (avg $13.62) and retired 1.5M preferred at ~23% discount. Net debt / TTM corporate EBITDA improved to 5.3x (from 5.5x Q1, 5.9x FY2025); liquidity ≈$1.0B (cash $270M + revolver $641M + delayed draw $90M).
Upgraded Full-Year Outlook and Strong H1 Cash Flow
Raised full-year same-property RevPAR guidance to +4.5% to +5.5% (midpoint +125 bps); same-property EBITDA +8.2% to +10.5% (midpoint 9.3%); adjusted FFO $1.69–$1.76 per diluted share (midpoint +$0.08). H1 results: same-property hotel revenues +7.2%, EBITDA +14.5%, adjusted FFO per share +23.8%, free cash flow per share +69% to $0.76 ($87.8M).
DE:PD0 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed