Recent Earnings

Palomar Holdings, Inc.

PLMR

2025 Q2

Financial Services

2mo

Adjusted Net Income Growth

52% year-over-year increase to $48.5 million

Adjusted net income grew 52% to $48.5 million or $1.76 per share compared to $32 million or $1.25 per share for the same quarter of 2024.

Pebblebrook Hotel Trust

PEB

2025 Q2

Financial Services

2mo

Financial Performance Summary

Adjusted EBITDA was $117 million, $6.5 million above midpoint.
Adjusted FFO was $0.65 per share, $0.06 ahead of midpoint.
Business interruption proceeds from LaPlaya insurance claims were $1.5 million above outlook, totaling $3.2 million.
Ended Q2 with $267 million cash on hand, $49 million increase from last quarter; $640 million revolver availability.
Energy costs decreased 2.1% due to efficiency efforts.
Excluding Los Angeles and adjusting for last year's tax credits, same-property hotel EBITDA increased by $2.5 million year-over-year.
Hotel expenses excluding fixed costs rose 1.7% year-over-year; expenses per occupied room declined 0.8%.
Invested $21 million in portfolio during the quarter; on track for $65 million to $75 million in 2025.
LaPlaya resort fully restored; full year BI income forecast increased to $11.5 million from $8.5 million.
Los Angeles caused a $2.2 million EBITDA headwind, about $700,000 more than anticipated.
Newport Harbor Island Resort outperformed expectations with a $1.8 million EBITDA beat.
Out-of-room revenues at resorts rose 3.3%, led by food and beverage growth of 2.5%.
Portland RevPAR climbed 10.4%, San Diego urban hotels posted 8.6% RevPAR growth.
Property insurance renewal reduced premiums by roughly 10% with a 13% rate drop and 4% increase in insurable values.
Resort total RevPAR increased 0.6% with a 1-point occupancy gain offsetting a nearly 3% ADR decline.
Same-property hotel EBITDA totaled $115.8 million for the quarter, $1.8 million ahead of midpoint.
Same-property total property RevPAR grew 1.3% year-over-year; excluding Los Angeles, RevPAR rose 2.7%.
Same-property total revenues grew 1.3%, 2.7% excluding Los Angeles.
San Francisco led with a 15.2% RevPAR increase, driven by occupancy gains and strong business and leisure demand.
Urban portfolio RevPAR increased 1.7% overall and 4.1% excluding Los Angeles.
Weighted average interest cost is 4.2%, with 90% to 96% of debt fixed.