Filing Flows › Braemar Hotels & Resorts (BHR) › Q3 2026
Braemar Hotels & Resorts (BHR) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Braemar Hotels & Resorts (BHR) reported revenue of $102M for the third quarter 2026 (Q3 2026), -29% from a year earlier and -41% from the quarter before. Operating margin was -240.0%, net loss $249M (245.5% of revenue).
Braemar Hotels & Resorts, Q3 2026: revenue $102M (-29% year over year), operating margin -240.0%, net loss $249M, operating cash flow −$258M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $102M | -41% | -29% |
| Operating profit | −$244M | -896% | -918% |
| Net earnings | −$249M | -3643% | -4443% |
| Operating cash flow | −$258M | -1334% | — |
What changed
Revenue was $101.6M in Q3 2026, down 29% year over year and down 41% from the previous quarter. Rooms was the largest line at 62% of revenue. Rooms lost $22.6M year over year (down 26%), 54% of the total change.
Operating costs exceeded revenue by $243.8M, an operating margin of -240.0%. Total costs grew 204% against a revenue fall of 29%. The fastest-growing cost line was Other operating costs (+12148%). The quarter ended with a net loss of $249.4M, after a profit of $6.9M the previous quarter. Minority interests bore $16.1M of it: to shareholders the quarter was a loss of $233.3M.
Operating cash flow was −$258.1M. Non-cash charges added back $16.6M of depreciation and amortization. Working capital and other items used $25.4M. Capital expenditures of $5.0M exceeded it, leaving free cash flow of −$263.1M.
Questions
What was Braemar Hotels & Resorts' revenue in the third quarter 2026?
Braemar Hotels & Resorts (BHR) reported revenue of $102M for the third quarter 2026 (Q3 2026), -29% from a year earlier and -41% from the quarter before.
Was Braemar Hotels & Resorts profitable in the third quarter 2026?
Operating loss was $244M (-240.0% of revenue) and net loss $249M.