Filing Flows › Sunstone Hotel Investors (SHO) › Q3 2026 › vs Q2 2026
Sunstone Hotel Investors (SHO) Q3 2026 vs Q2 2026 (quarter over quarter)
Sunstone Hotel Investors's revenue fell $43.4M (-16%) from $277M in Q2 2026 to $234M in Q3 2026. The biggest changes: Occupancy −$28.2M (-17%); Food and Beverage −$10.3M (-13%); Hotel Other −$4.9M (-16%). Operating margin 17.6% against 9.5% (+8.2 pts).
Sunstone Hotel Investors, Q3 2026: revenue $234M (+2% year over year), operating margin 17.6%, net earnings $38.5M, operating cash flow $53.7M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 17.6% | 9.5% | +8.2 pts |
| Net margin | 16.5% | 9.3% | +7.1 pts |
| Free cash flow margin | 13.1% | 14.3% | -1.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Occupancy | $140M | $168M | −$28.2M | -17% |
| Food and Beverage | $68.6M | $78.9M | −$10.3M | -13% |
| Hotel Other | $25.1M | $29.9M | −$4.9M | -16% |
| Revenue | $234M | $277M | −$43.4M | -16% |
| Operating profit | $41.2M | $26.2M | $15.0M | +57% |
| Costs & expenses | $193M | $251M | −$58.4M | -23% |
| Pre-tax earnings | $41.2M | $26.2M | $15.0M | +57% |
| General & admin | $6.4M | $8.8M | −$2.4M | -27% |
| Other operating costs | $186M | $242M | −$56.0M | -23% |
| Net earnings | $38.5M | $25.9M | $12.7M | +49% |
| Minority interests | $2.4M | $162K | $2.2M | 15× |
| Income tax | $296K | $187K | $109K | +58% |
| Depreciation & amortization | $30.3M | $34.3M | −$4.0M | -12% |
| Share-based compensation | $2.0M | $3.6M | −$1.5M | -43% |
| Working capital & other | $17.1M | $1.7M | $15.4M | +915% |
| Operating cash flow | $53.7M | $62.0M | −$8.3M | -13% |
| Free cash flow (OCF − capex) | $30.5M | $39.6M | −$9.1M | -23% |
| Capital expenditures | $23.2M | $22.4M | $850K | +4% |
Questions
How much did Sunstone Hotel Investors's revenue grow quarter over quarter in Q3 2026?
Sunstone Hotel Investors's revenue fell $43.4M (-16%) from $277M in Q2 2026 to $234M in Q3 2026.
What drove Sunstone Hotel Investors's revenue change in Q3 2026?
Occupancy −$28.2M (-17%); Food and Beverage −$10.3M (-13%); Hotel Other −$4.9M (-16%).