Filing Flows › Sunstone Hotel Investors (SHO) › Q1 2026
Sunstone Hotel Investors (SHO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Sunstone Hotel Investors (SHO) reported revenue of $260M for the first quarter 2026 (Q1 2026), +11% from a year earlier and +10% from the quarter before. Operating margin was 7.2%, net earnings $15.9M (6.1% of revenue).
Sunstone Hotel Investors, Q1 2026: revenue $260M (+11% year over year), operating margin 7.2%, net earnings $15.9M, operating cash flow $45.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $260M | +10% | +11% |
| Operating profit | $18.7M | +161% | +249% |
| Net earnings | $15.9M | +401% | 13× |
| Operating cash flow | $45.4M | +24% | +42% |
| Free cash flow | $14.4M | +98% | +276% |
What changed
Revenue was $259.7M in Q1 2026, up 11% year over year and up 10% from the previous quarter. Room was the largest line at 62% of revenue. Room added $16.1M year over year (up 11%), 63% of the total change.
Operating profit was $18.7M, a 7.2% margin (up 4.9 points year over year). Of the extra revenue versus Q1 2025, 52% reached operating profit, above the 2% margin then. Total costs grew 5% against revenue growth of 11%. Net earnings were $15.9M, up 1158% year over year. The effective tax rate was 0.7%.
Operating cash flow was $45.4M (up 42% year over year), 245% of net income including minority interests. Non-cash charges added back $34.2M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items used $9.2M. Capital expenditures of $31.0M left free cash flow of $14.4M.
Questions
What was Sunstone Hotel Investors' revenue in the first quarter 2026?
Sunstone Hotel Investors (SHO) reported revenue of $260M for the first quarter 2026 (Q1 2026), +11% from a year earlier and +10% from the quarter before.
Was Sunstone Hotel Investors profitable in the first quarter 2026?
Operating profit was $18.7M (7.2% of revenue) and net earnings $15.9M.