Why did BHR's Q3 2024 earnings underperform forecasts?

Braemar Hotels & Resorts (BHR) experienced a significant decline in net income, missing forecasts, which can be attributed to several key factors:

1. **Revenue Shortfall**: BHR's quarterly revenue fell short of expectations, with reported figures indicating a shortfall relative to analyst estimates. This shortfall is a critical factor in the underperformance of their Q3 2024 earnings.
2. **FFO Miss**: The company's Funds from Operations (FFO) also missed expectations, reflecting a decline from the previous year's $0.20 per share to the current quarter's $0.10 per share. This indicates a weakening financial performance, further contributing to the earnings shortfall.
3. **Economic Challenges**: The impact of economic challenges, including inflationary pressures and labor market issues, has likely weighed on BHR's operational efficiency and profitability. These factors are likely to have affected revenue streams and increased costs, thereby impacting net income.

In summary, BHR's Q3 2024 earnings underperformance can be attributed to a combination of revenue shortfall, FFO miss and economic challenges.