ASHFORD HOSPITALITY TRUST ANNOUNCES PRELIMINARY THIRD QUARTER 2022 RESULTS
Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") announced today its preliminary expectations for net loss attributable to common stockholders, Adjusted EBITDAre, and Adjusted FFO for the third quarter ended September 30, 2022
DALLAS, Oct. 26, 2022 /PRNewswire/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") announced today its preliminary expectations for net loss attributable to common stockholders, Adjusted EBITDAre, and Adjusted FFO for the third quarter ended September 30, 2022.
The Company reported today a preliminary estimated range of net loss attributable to common stockholders of approximately $(26.2) million to $(24.2) million or $(0.76) to $(0.70) per share, a preliminary estimated range of Adjusted EBITDAre of $81.1 million to $83.1 million, and a preliminary estimated range of Adjusted FFO available to common stockholders and OP unitholders of $18.0 million to $20.0 million for the third quarter ended September 30, 2022.
Additionally, for the nine months ended September 30, 2022, the Company reported a preliminary estimated range of net loss attributable to common stockholders of approximately $(94.0) million to $(92.0) million or $(2.74) to $(2.68) per share, a preliminary estimated range of Adjusted EBITDAre of $217.5 million to $219.5 million, and a preliminary estimated range of Adjusted FFO available to common stockholders and OP unitholders of $60.9 million to $62.9 million. Final results for the third quarter ended September 30, 2022 will be released on November 1, 2022, as previously announced.
We use certain non-GAAP measures, in addition to the required GAAP presentations, as we believe these measures improve the understanding of our operational results and make comparisons of operating results among peer real estate investment trusts more meaningful. Non-GAAP financial measures used in this press release, which should not be relied upon as a substitute for GAAP measures, are FFO, AFFO, EBITDA, EBITDAre and Adjusted EBITDAre. Please refer to our most recently filed Annual Report on Form 10-K for a more detailed description of how these non-GAAP measures are calculated. The reconciliations of non-GAAP measures to the closest GAAP measures are provided below and provide further details of our results for the periods being reported.
