Abstract

Host Hotels & Resorts will report quarterly results on February 18, 2026 Post Market, and this preview summarizes consensus forecasts, the prior quarter’s performance, segment dynamics, and observable sentiment heading into the print.

Market Forecast

Consensus points to a quarter of solid top-line progress for Host Hotels & Resorts, with revenue estimated at 1.50 billion, implying 9.22% year-over-year growth, alongside estimated adjusted EPS of $0.19, up 46.61% year over year; EBIT is projected at 183.36 million, up 23.92% year over year. While no margin guidance was captured in the dataset, the magnitude of expected EPS improvement versus revenue growth implies incremental operating leverage or mix benefits underpinning the model. The company’s main business mix remains anchored by rooms, which accounted for 826.00 million last quarter, with food and beverage at 364.00 million and other revenue at 141.00 million; with rooms representing 62.06% of revenue in the prior quarter, outturn relative to consensus will be most sensitive to rooms trends. The most promising segment for incremental upside appears to be food and beverage at 364.00 million last quarter, an area where event-driven demand can amplify quarterly performance; segment-level year-over-year growth was not disclosed.

Last Quarter Review

Host Hotels & Resorts delivered revenue of 1.33 billion last quarter (up 0.91% year over year), a gross profit margin of 24.08%, GAAP net profit attributable to the parent company of 161.00 million, a net profit margin of 12.08%, and adjusted EPS of $0.23 (up 91.67% year over year). One notable financial highlight was the divergence between operating and per-share metrics: EBIT registered at 101.00 million, down 25.19% year over year, even as adjusted EPS expanded meaningfully, indicating that non-operating items, cost-line movements, or share count dynamics likely influenced the per-share outcome. From a business mix perspective, rooms revenue reached 826.00 million (62.06% of total), with food and beverage at 364.00 million (27.35%) and other revenue at 141.00 million (10.59%), underscoring the continued centrality of rooms to the quarterly earnings algorithm.

Current Quarter Outlook

Rooms: scale driver and the key swing factor for quarterly revenue

Rooms remains the principal engine for Host Hotels & Resorts, supplying 826.00 million last quarter and approximately 62.06% of the revenue base. The current-quarter revenue estimate of 1.50 billion implies 9.22% year-over-year growth at the portfolio level, and the rooms category is the most important variable within that projection given its weight. In practical terms, modest changes in occupancy or rate can have outsized effects on consolidated revenue and margins, given the fixed-cost characteristics of hotel operations and the contribution of rooms to incremental flow-through. The earnings model’s simultaneous call for 23.92% growth in EBIT and 46.61% expansion in adjusted EPS—despite revenue growth of 9.22%—suggests modest operating leverage that is most plausibly realized in rooms. If rate integrity holds alongside steady occupancy, the mix of high-margin rooms revenue could lift conversion even without dramatic top-line outperformance. Conversely, if rooms cadence softens intra-quarter, the company’s reliance on this segment for contribution margin means consolidated EBIT could underwhelm relative to the current baseline. Against last quarter’s 24.08% gross margin and 12.08% net margin, the rooms trajectory will likely dictate the direction of margin variance this quarter. Even small sequential improvements in rooms productivity—via revenue per available room (RevPAR) drivers like rate and sellable-night optimization—can produce noticeable movements in operating income. With the rooms line also shaping working-capital patterns and cost absorption, how rooms revenue lands versus plan is poised to be the single most influential determinant of whether the company meets or exceeds consensus.

Food and beverage: event-driven upside potential

Food and beverage produced 364.00 million last quarter, roughly 27.35% of total revenue, and remains a meaningful, event- and calendar-driven contributor. While segment-level year-over-year growth rates were not available, food and beverage typically scales with group activity and banquet calendars, factors that can amplify quarterly revenue and expand contribution when volume is favorable. The present quarter’s consolidated revenue estimate implies a top-line pace that is consistent with a supportive demand environment; if group attendance and event mix tilt toward higher-ticket gatherings, food and beverage could provide incremental upside to the revenue outlook. Importantly, the flow-through characteristics of food and beverage differ from rooms, as labor and ingredient costs play a more direct role in the segment’s profitability. This means that even when top-line performance is robust, the conversion to EBIT may be less pronounced than in rooms unless pricing and mix align well with cost inputs. For investors assessing the current quarter, indications of strong banquet and catering activity often correlate with better food and beverage results, though the overall impact on EPS will still hinge largely on rooms performance due to its higher margin contribution. From a risk-management perspective within the quarter, food and beverage can also serve as a stabilizer if rooms demand underperforms near-term expectations, particularly when large events are pre-booked. The interplay between these two lines can shape not just revenue but also EBITDA and EBIT profiles for the period, with a healthier food and beverage line softening volatility that could otherwise emerge from rooms fluctuations. Taken together, this segment represents a credible avenue for incremental revenue relative to the base case, while the magnitude of EPS sensitivity remains more concentrated in rooms.

Earnings drivers and stock sensitivities this quarter

The model-implied gap between revenue growth of 9.22% and adjusted EPS growth of 46.61% points to operating leverage and cost discipline as pivotal earnings drivers. If operating expenses are held in check relative to the growth in revenue, incremental margins can widen, reinforcing the path from EBIT growth of 23.92% to the stronger EPS outcome. Monitoring variable costs tied to operations, property-level efficiencies, and any realized synergies from prior asset or process initiatives will be essential to understanding whether the earnings quality aligns with the forecasted per-share improvement. Below the operating line, interest expense and share count dynamics can meaningfully affect EPS translation. The last quarter’s pattern—EBIT down 25.19% year over year alongside a 91.67% increase in adjusted EPS—demonstrates the potential for non-operating and per-share factors to shape reported earnings. As such, in the upcoming release, clarity around the effective interest rate on debt, timing of maturities or refinancings, and any capital-return actions that alter the weighted average share count will be critical to bridging EBIT to EPS. The greater the transparency on these items, the easier it will be for the market to assess sustainability of the modeled EPS step-up. Cash generation and capital allocation can also influence how the stock trades around the print. With quarterly revenue poised near 1.50 billion and EBIT projected at 183.36 million, investors will parse free-cash conversion, maintenance versus growth capital needs, and any balance-sheet movements that inform future capacity for dividends or repurchases. Given that last quarter’s gross margin was 24.08% and net margin was 12.08%, commentary on the direction of margins this quarter—even in the absence of explicit guidance—will set the tone for how the market extrapolates into the next several periods. The combination of rooms-led operating leverage, food and beverage reinforcement, and prudent cost and capital management is the framework most likely to validate the consensus EPS path.

Analyst Opinions

Within the January 1, 2026 to February 11, 2026 window reviewed for this preview, no new analyst previews or rating changes specific to Host Hotels & Resorts were captured that would allow for a calculable ratio of bullish versus bearish opinions. The absence of fresh, dated-to-period opinions means a clear majority view could not be determined from the collected materials in this time frame. As a result, the investor narrative into February 18, 2026 centers on the company’s demonstrated revenue mix, last quarter’s margin baselines, and the consensus forecast calling for 9.22% year-over-year revenue growth, 23.92% EBIT growth, and a 46.61% increase in adjusted EPS—parameters that will guide expectations in the absence of updated third-party positioning.