What caused INN's Q3 2024 EPS to underperform forecasts?

The EPS of INN's Q3 2024 underperformed forecasts due to a combination of factors:

1. **Revenue Shortfall**: The company's revenue fell short of expectations, with a reported total revenue of $176.81 million for Q3 2024, compared to the consensus estimate of $193.9 million. This decline in revenue contributes to the EPS shortfall.

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|INN|INN.N|Summit Hotel|2023 Q4|2.9647296403328576|1.77435E8|169|
|INN|INN.N|Summit Hotel|2024 Q1|3.1576407888893154|1.88142E8|169|
|INN|INN.N|Summit Hotel|2024 Q2|-0.30335281989583174|1.93903E8|169|
|INN|INN.N|Summit Hotel|2024 Q3|-2.7549830597967175|1.76807E8|169|

2. **Strategic Asset Sales**: Summit Hotel Properties has been engaging in strategic asset sales, which could indicate a shift in strategy or operational challenges that impact profitability. Such sales may be undertaken to address underperforming assets, but they can also reduce the overall revenue base of the company in the short term.
3. **Interest Income**: The company's interest income was lower than expected, with the last reported figure being $1.04 million for Q3 2024, compared to the prior quarter's $1.28 million. This reduction in interest income can contribute to a lower EPS.
4. **Interest Expense**: The interest expense for the company was higher than expected, with the last reported figure being $7.53 million for Q3 2024, compared to the prior quarter's $6.72 million. This increase in interest expense can negatively impact the net income and, consequently, the EPS.

In summary, the Q3 2024 EPS underperformance of INN can be attributed to a combination of revenue shortfall, strategic asset sales, lower interest income, and higher interest expense. These factors, either directly or indirectly, affect the company's profitability and, consequently, its EPS.