Condor Hospitality Trust Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company's revenue was USD 16,679,000 compared to USD 10,361,000 a year ago. Operating income was USD 2,118,000 compared to loss of USD 640,000 a year ago. Earnings from continuing operations before income taxes were USD 921,000 compared to loss of USD 2,400,000 a year ago. Net earnings of USD 792,000 compared to loss of USD 2,400,000 a year ago. Earnings of USD 0.05 per basic and diluted share compared to loss of USD 4.75 per basic and diluted share a year ago. FFO was USD 3,274,000 compared to negative of USD 720,000 a year ago. FFO attributable to common shares and common units was USD 3,130,000 or USD 0.26 per basic and diluted common share and common unit compared to negative of USD 12,323,000 or USD 4.19 per basic and diluted common share and common unit a year ago. AFFO attributable to common shares and common units was USD 3,502,000 or USD 0.29 per diluted common share and common unit compared to USD 320,000 or USD 0.10 per basic and diluted common share and common unit a year ago. EBITDA was USD 5,885,000 compared to USD 1,438,000 a year ago. EBITDAre was USD 5,823,000 compared to USD 1,713,000 a year ago. Adjusted EBITDAre was USD 5,797,000 compared to USD 2,460,000 a year ago. Hotel EBITDA Increased to USD 7.4 million from USD4.0 million.

For the year ending December 31, 2018, the company reiterated earnings guidance. For the period, the company expects net earnings in the range of USD 1.7 million to USD 2.5 million, Depreciation and amortization expense of USD 11.4 million to USD 11.4 million, FFO of USD 13.1 million to USD 13.9 million, FFO attributable to common shares and common units of USD 12.5 million to USD 13.3 million, AFFO attributable to common shares and common units – Basic of USD 13.7 million to USD 14.5 million, AFFO attributable to common shares and common units – Diluted of USD 14.3 to USD 15.1, AFFO per common share and common unit – Diluted of USD 1.13 to USD 1.19, Diluted common shares and common units of USD 12.7 to USD 12.7. The company also expects EBITDA of USD 21.5 million to USD 22.4 million, Adjusted EBITDA of USD 22.5 million to USD 23.4 million, hotel EBITDA of USD 28.8 million to USD 29.7 million, and hotel revenue of USD 74.0 million to USD 75.4 million. Net earnings expected to be USD 0.09 to USD 0.16 per diluted share.