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Ashford Inc. gains in post-market hours after Q2 beat

Aug. 09, 2018 5:33 PM ETAshford Inc. (AINC) StockBy: Liz Kiesche, SA News Editor
  • Ashford Inc. (NYSE:AINC) +1.37% in after-hours trading after Q2 adjusted EPS of $3.60 beat the average analyst estimate of $1.97.
  • REIT advisory contributed $5.28 to adjusted EPS, while hospitality products and services contributed 62 cents; corporate and other subtracted $2.30.
  • Q2 total revenue surged to $54.8M vs. $19.6M a year ago.
  • Adjusted EBITDA more than doubled to $11.3M from $4.23M Y/Y.
  • On Wednesday, Ashford completed its acquisition of Remington Holdings' project management business for $203M.
  • The purchase price was paid by issuing convertible preferred stock to the sellers. The new convertible preferred stock has a conversion price of $140 per share (a 45% premium to the trading level at the time of the announcement) and, if converted, would convert into an estimated 1.45M shares of common stock.
  • Source: Press Release
  • Previously: Ashford beats by $1.63, beats on revenue (Aug. 9)

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