Ashford Hospitality Trust, Inc.
Income Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $273.2M | $267.7M | $259.0M | $266.1M | $302.0M | $277.4M | $275.5M | $276.6M |
| Cost of Revenue | $176.5M | $181.1M | $187.7M | $193.3M | $198.8M | $188.5M | $202.2M | $194.8M |
| Gross Profit | $96.8M | $86.6M | $71.3M | $72.8M | $103.2M | $88.9M | $73.3M | $81.8M |
| Gross Margin | 35.4% | 32.3% | 27.5% | 27.4% | 34.2% | 32.0% | 26.6% | 29.6% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $1.3M | $1.6M | $3.7M | $7.3M | $5.5M | $4.3M | $4.1M | $5.1M |
| Operating Income | $196.3M | $13.2M | $-6.6M | $12.2M | $49.3M | $61.5M | $-49.0M | $20.2M |
| Operating Margin | 71.9% | 4.9% | -2.6% | 4.6% | 16.3% | 22.2% | -17.8% | 7.3% |
| Interest Expense | $55.7M | $73.6M | $56.4M | $62.9M | $70.1M | $66.8M | $64.2M | $66.8M |
| Pretax Income | $131.9M | $-64.7M | $-71.6M | $-62.5M | $-32.3M | $-21.9M | $-131.4M | $-59.6M |
| Income Tax Expense | $2.6M | $752.0K | $-838.0K | $259.0K | $119.0K | $317.0K | $-2.3M | $-445.0K |
| Net Income | $128.0M | $-63.8M | $-69.3M | $-60.1M | $-30.4M | $-20.0M | $-124.2M | $-57.9M |
| Net Margin | 46.8% | -23.8% | -26.8% | -22.6% | -10.1% | -7.2% | -45.1% | -20.9% |
| EPS (Basic) | $18.73 | $-11.03 | $-12.85 | $-11.35 | $-6.88 | $-4.91 | $-32.80 | $-12.39 |
| EPS (Diluted) | $1.62 | $-11.03 | $-12.85 | $-11.35 | $-6.88 | $-4.91 | $-13.64 | $-12.39 |
| Shares Outstanding (Basic) | 6.4M | 6.4M | 6.0M | 6.1M | 5.8M | 5.7M | 4.7M | 5.1M |
| Shares Outstanding (Diluted) | 77.5M | 6.4M | 6.0M | 6.1M | 5.9M | 5.7M | 4.7M | 5.1M |
| Dividends Per Share | — | — | — | — | — | — | — | — |