SOHO - Sotherly Hotels reports Q4 earnings; initiates Q1 FY23 outlook

• Sotherly Hotels press release ( NASDAQ: SOHO ): Q4 GAAP EPS of $0.17.
• Revenue of $41.34M (+17.8% Y/Y) misses by $0.56M .
• Fourth quarter hotel EBITDA finished at $11.9 million, which was a 46.8% increase over Q4 2021 and eclipsed Q4 2019 by 28.2%.
• Adjusted FFO for Q4 2022 finished at $0.41 per share, compared to the prior year’s deficit of $0.08 per share.
• Occupancy increased from 54.1% in Q4 2021 to 58.0% in Q4 2022 but lagged occupancy of 67.5% in Q4 2019.
• Q1 2023 Outlook: Total revenue of $42.31M-$44.35M vs $45.70M consensus; Net loss per share available to common stockholders of -$0.04- -$0.01; Adjusted FFO per common share and unit of $0.21-$0.24; Hotel EBITDA margin of 28.2%; Rev PAR of $111.77-$117.16

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