What is RLJ Lodging Trust's operating income?

RLJ Lodging Trust's total operating income in 2025 was $125.09 million, based on the following breakdown: Total Gross Profit: $1.25 billion Total Operating Expenses: $1.12 billion

RLJ Lodging Trust (RLJ) Financials

$11.06 +0.12 (+1.05%)

As of 11:15 AM Eastern

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Annual Income Statements for RLJ Lodging Trust

This table shows RLJ Lodging Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	218	200	66	164	103	-430	-330	17	51	43	3.39
Consolidated Net Income / (Loss)	220	201	76	191	129	-409	-311	42	77	68	29
Net Income / (Loss) Continuing Operations	191	201	76	191	129	-409	-311	42	77	68	29
Total Pre-Tax Income	0.00	210	118	200	126	-357	-310	44	78	70	30
Total Operating Income	204	266	190	287	218	-254	-197	122	152	158	125
Total Gross Profit	518	533	576	687	1,566	473	697	1,194	1,225	1,262	1,249
Total Revenue	1,136	1,160	1,356	1,761	1,566	473	786	1,194	1,326	1,369	1,350
Operating Revenue	1,136	1,160	1,356	1,761	1,566	473	-	1,194	1,326	1,369	1,350
Total Cost of Revenue	618	627	781	1,074	0.00	0.00	89	0.00	100	107	101
Other Cost of Revenue	77	77	91	135	-	-	89	-	100	107	101
Total Operating Expenses	315	266	385	400	1,348	727	894	1,071	1,073	1,104	1,123
Selling, General & Admin Expense	38	32	40	49	1,002	433	559	801	894	933	935
Depreciation Expense	156	163	187	242	212	194	188	185	179	179	186
Restructuring Charge	3.06	0.19	44	2.06	1.21	-0.16	0.09	-0.35	0.22	0.32	0.41
Other Special Charges / (Income)	-	-46	-8.98	-31	-	-2.70	2.38	-1.02	0.03	-8.26	1.53
Total Other Income / (Expense), net	-52	-57	-72	-87	-93	-102	-113	-79	-74	-88	-95
Interest Expense	55	59	78	96	92	100	105	93	99	111	112
Interest & Investment Income	1.56	1.70	5.79	5.53	7.05	-4.22	0.52	5.02	20	18	13
Other Income / (Expense), net	1.60	0.30	0.27	2.79	-8.06	1.94	-7.61	9.50	4.36	5.34	3.48
Income Tax Expense	-39	8.19	42	8.79	-3.75	52	1.19	1.52	1.26	1.60	1.15
Preferred Stock Dividends Declared	0.00	0.00	8.87	27	26	25	25	25	25	25	25
Net Income / (Loss) Attributable to Noncontrolling Interest	1.59	0.96	0.41	0.74	0.20	-4.36	-5.92	0.29	0.21	0.17	0.05
Basic Earnings per Share	$1.69	$1.61	$0.47	$0.93	$0.59	($2.61)	($2.01)	$0.10	$0.32	$0.27	$0.01
Weighted Average Basic Shares Outstanding	128.44M	123.65M	140.62M	174.23M	171.29M	164.50M	164.00M	161.95M	155.93M	152.86M	149.66M
Diluted Earnings per Share	$1.68	$1.61	$0.47	$0.93	$0.59	($2.61)	($2.01)	$0.10	$0.32	$0.27	$0.01
Weighted Average Diluted Shares Outstanding	128.97M	123.88M	140.69M	174.32M	171.39M	164.50M	164.00M	162.29M	156.56M	153.48M	149.91M
Weighted Average Basic & Diluted Shares Outstanding	124.63M	124.62M	174.85M	173.69M	168.59M	164.97M	166.48M	162.56M	155.78M	151.96M	151.92M
Cash Dividends to Common per Share	$1.32	$0.00	$1.32	$1.32	$1.32	$0.04	$0.04	$0.12	$0.36	$0.50	$0.60

This table shows RLJ Lodging Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	1.66	-1.34	31	14	-0.90	-2.92	22	-10	-5.85	-6.42	25
Consolidated Net Income / (Loss)	8.04	4.75	37	21	5.51	3.17	29	-3.80	0.55	-0.35	31
Net Income / (Loss) Continuing Operations	8.04	4.75	37	21	5.51	3.17	29	-3.80	0.55	-0.35	31
Total Pre-Tax Income	8.27	5.06	38	21	6.03	3.47	29	-3.46	0.72	-0.09	32
Total Operating Income	27	23	61	45	29	27	53	21	25	24	55
Total Gross Profit	369	297	341	322	387	301	337	303	308	313	356
Total Revenue	320	324	369	346	330	328	363	330	329	340	383
Total Cost of Revenue	-49	28	29	24	-57	27	26	27	21	27	27
Other Cost of Revenue	-	28	29	24	-	27	26	27	21	27	27
Total Operating Expenses	318	273	280	277	330	274	284	282	283	289	301
Selling, General & Admin Expense	224	229	239	236	229	230	237	235	233	238	252
Depreciation Expense	44	45	44	45	45	46	46	47	47	47	47
Restructuring Charge	0.20	0.01	0.08	0.21	0.02	0.06	0.06	0.13	0.17	0.03	0.69
Other Special Charges / (Income)	-	0.00	-3.55	-4.76	-	-1.32	0.38	0.14	2.33	3.65	0.12
Total Other Income / (Expense), net	-19	-18	-23	-24	-23	-23	-24	-24	-24	-24	-24
Interest Expense	25	26	28	29	28	28	28	28	29	28	28
Interest & Investment Income	5.87	5.02	4.27	4.14	4.34	3.44	3.17	3.20	3.68	2.98	3.37
Other Income / (Expense), net	0.86	3.19	0.69	0.79	0.67	0.89	1.15	0.67	0.77	0.83	0.99
Income Tax Expense	0.23	0.31	0.39	0.38	0.52	0.29	0.34	0.34	0.17	0.26	0.29
Preferred Stock Dividends Declared	6.28	6.28	6.28	6.28	6.28	6.28	6.28	6.28	6.28	6.28	6.28
Net Income / (Loss) Attributable to Noncontrolling Interest	0.11	-0.19	0.19	0.04	0.14	-0.19	0.18	-0.06	0.12	-0.21	0.29
Basic Earnings per Share	$0.01	($0.01)	$0.20	$0.09	($0.01)	($0.02)	$0.15	($0.07)	($0.05)	($0.05)	$0.16
Weighted Average Basic Shares Outstanding	155.93M	152.97M	153.64M	153.07M	152.86M	150.91M	149.53M	149.13M	149.66M	149.32M	149.88M
Diluted Earnings per Share	$0.01	($0.01)	$0.20	$0.09	($0.01)	($0.02)	$0.15	($0.07)	($0.05)	($0.05)	$0.16
Weighted Average Diluted Shares Outstanding	156.56M	152.97M	154.11M	153.24M	153.48M	150.91M	149.60M	149.13M	149.91M	149.32M	150.93M
Weighted Average Basic & Diluted Shares Outstanding	155.78M	155.90M	155.02M	153.31M	151.96M	151.71M	151.16M	151.09M	151.92M	151.93M	152.38M

This table details how cash moves in and out of RLJ Lodging Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-136	334	135	-274	542	7.63	-221	-177	19	-122	8.74
Net Cash From Operating Activities	329	331	261	395	397	-169	43	257	315	285	244
Net Cash From Continuing Operating Activities	329	331	261	395	397	-169	43	257	315	285	244
Net Income / (Loss) Continuing Operations	220	201	76	191	129	-409	-311	42	77	68	29
Consolidated Net Income / (Loss)	220	201	76	191	129	-409	-311	42	77	68	29
Depreciation Expense	156	163	187	242	212	194	188	185	179	179	186
Amortization Expense	4.56	4.10	0.74	0.42	2.05	2.01	3.79	9.23	11	12	12
Non-Cash Adjustments To Reconcile Net Income	-14	-40	0.72	-23	38	18	175	14	33	21	28
Changes in Operating Assets and Liabilities, net	-37	3.33	-3.60	-15	16	26	-12	5.83	16	5.16	-11
Net Cash From Investing Activities	-46	185	65	277	530	-67	-25	-136	-135	-276	-57
Net Cash From Continuing Investing Activities	-46	185	65	277	530	-67	-25	-136	-135	-276	-57
Purchase of Property, Plant & Equipment	-150	-84	-103	-198	-157	-73	-48	-124	-132	-136	-126
Acquisitions	-	0.00	-	-	0.00	0.00	-175	-59	-2.40	0.00	0.00
Sale of Property, Plant & Equipment	246	269	180	475	686	5.17	199	48	0.00	20	69
Other Investing Activities, net	0.00	0.00	-25	-0.35	-0.60	-0.10	-0.33	-	0.00	-159	0.00
Net Cash From Financing Activities	-419	-182	-190	-946	-385	243	-239	-298	-161	-132	-178
Net Cash From Continuing Financing Activities	-419	-182	-190	-946	-385	243	-239	-298	-161	-132	-178
Repayment of Debt	-167	-60	-7.34	-962	-529	-7.45	-1,206	-201	-327	-705	-128
Repurchase of Common Equity	-225	-13	-2.61	-22	-78	-63	0.00	-58	-76	-22	-29
Payment of Dividends	-171	-165	-177	-259	-254	-86	-32	-41	-74	-95	-116
Issuance of Debt	157	62	0.00	300	521	400	1,000	5.00	320	700	100
Other Financing Activities, net	-12	-6.34	-2.82	-3.39	-0.59	-0.81	-1.26	-3.50	-4.62	-9.35	-4.01

This table details how cash moves in and out of RLJ Lodging Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	25	-164	16	17	8.98	-61	29	2.90	38	-55	586
Net Cash From Operating Activities	89	21	114	80	71	16	101	63	63	26	115
Net Cash From Continuing Operating Activities	89	21	114	80	71	16	101	63	63	26	115
Net Income / (Loss) Continuing Operations	8.04	4.75	37	21	5.51	3.17	29	-3.80	0.55	-0.35	31
Consolidated Net Income / (Loss)	8.04	4.75	37	21	5.51	3.17	29	-3.80	0.55	-0.35	31
Depreciation Expense	44	45	44	45	45	46	46	47	47	47	47
Amortization Expense	2.87	3.04	2.96	2.99	3.14	2.91	2.94	2.94	2.95	2.78	2.68
Non-Cash Adjustments To Reconcile Net Income	15	6.20	1.97	0.08	12	2.85	3.49	4.49	17	7.64	4.09
Changes in Operating Assets and Liabilities, net	19	-38	27	11	4.73	-38	20	13	-4.86	-31	29
Net Cash From Investing Activities	-33	-158	-67	-21	-29	-24	-35	-30	31	-28	-8.03
Net Cash From Continuing Investing Activities	-33	-158	-67	-21	-29	-24	-35	-30	31	-28	-8.03
Purchase of Property, Plant & Equipment	-30	-34	-39	-35	-29	-47	-35	-30	-15	-28	-21
Sale and/or Maturity of Investments	-	-	-	-	-	24	-	-	-	-0.03	13
Net Cash From Financing Activities	-31	-27	-30	-42	-33	-54	-38	-31	-56	-52	479
Net Cash From Continuing Financing Activities	-31	-27	-30	-42	-32	-54	-38	-31	-55	-52	479
Repayment of Debt	-0.09	-	-200	-505	-0.11	0.00	-	-0.04	-26	-20	-8.51
Repurchase of Common Equity	-4.80	-5.28	-7.92	-15	6.01	-24	-6.81	-1.40	3.56	-3.14	-0.37
Payment of Dividends	-22	-22	-22	-22	-29	-30	-29	-29	-29	-29	-29
Other Financing Activities, net	-4.25	-0.07	-0.07	-0.07	-8.80	-0.11	-0.11	-0.11	-3.69	-0.11	-0.11

This table presents RLJ Lodging Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	3,973	4,023	6,795	6,002	5,851	5,617	5,149	4,978	4,919	4,884	4,742
Total Current Assets	215	550	719	437	1,025	981	778	575	581	459	472
Cash & Equivalents	134	457	586	320	882	900	665	481	517	410	410
Restricted Cash	55	67	73	65	45	35	49	55	39	24	32
Accounts Receivable	26	26	60	52	40	13	31	39	26	25	30
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4,180	4,136	4,251	4,112
Total Noncurrent Assets	3,758	3,473	6,076	5,565	4,826	4,636	4,371	223	202	175	158
Long-Term Investments	-	0.00	24	22	15	6.80	6.52	6.98	7.40	7.46	7.36
Other Noncurrent Operating Assets	3,708	3,428	5,862	5,446	4,759	4,629	4,364	216	194	167	151
Total Liabilities & Shareholders' Equity	3,973	4,023	6,795	6,002	5,851	5,617	5,149	4,978	4,919	4,884	4,742
Total Liabilities	1,772	1,788	3,225	2,505	2,625	2,930	2,735	2,550	2,569	2,586	2,559
Total Current Liabilities	129	137	226	204	183	172	155	191	170	176	162
Accounts Payable	129	137	226	204	183	172	155	156	148	155	142
Accrued Expenses	-	-	-	-	-	-	-	21	23	21	21
Total Noncurrent Liabilities	1,643	1,651	2,999	2,304	2,442	2,757	2,580	2,358	2,398	2,410	2,397
Long-Term Debt	1,575	1,583	2,880	2,203	2,196	2,588	2,409	2,218	2,221	2,220	2,197
Capital Lease Obligations	-	-	-	-	-	-	-	117	123	119	118
Noncurrent Deferred Revenue	12	12	30	25	57	32	20	24	32	40	51
Other Noncurrent Operating Liabilities	46	45	82	73	188	138	150	-	23	31	31
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,201	2,235	3,570	3,497	3,226	2,687	2,414	2,429	2,351	2,298	2,183
Total Preferred & Common Equity	2,183	2,222	3,503	3,430	3,202	2,667	2,398	2,415	2,337	2,285	2,170
Preferred Stock	0.00	0.00	367	367	367	367	367	367	367	367	367
Total Common Equity	2,183	2,222	3,136	3,063	2,835	2,300	2,031	2,048	1,970	1,918	1,803
Common Stock	2,197	2,189	3,210	3,197	3,130	3,079	3,095	3,057	3,002	2,994	2,979
Retained Earnings	2.44	38	-83	-150	-275	-710	-1,047	-1,049	-1,055	-1,090	-1,178
Accumulated Other Comprehensive Income / (Loss)	-17	-4.90	8.85	16	-20	-69	-17	41	23	14	1.92
Noncontrolling Interest	18	13	67	67	24	21	16	14	14	14	13

This table presents RLJ Lodging Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	4,932	4,933	4,940	4,890	4,918	4,888	4,818	4,823	4,793	4,695	5,234
Total Current Assets	623	636	653	418	438	451	400	429	434	419	1,003
Cash & Equivalents	474	477	495	350	371	385	348	374	375	353	938
Restricted Cash	31	34	36	41	36	39	25	27	29	34	36
Accounts Receivable	41	42	48	27	31	26	28	28	30	31	30
Plant, Property, & Equipment, net	0.00	0.00	0.00	4,249	4,275	4,257	4,226	4,214	4,191	4,081	4,047
Total Noncurrent Assets	4,309	4,297	4,287	223	205	180	192	180	167	195	183
Long-Term Investments	7.26	7.48	7.29	7.63	7.39	7.24	7.64	7.45	7.14	7.39	7.49
Other Noncurrent Operating Assets	4,301	4,289	4,280	215	198	173	184	172	160	188	175
Total Liabilities & Shareholders' Equity	4,932	4,933	4,940	4,890	4,918	4,888	4,818	4,823	4,793	4,695	5,234
Total Liabilities	2,539	2,532	2,556	2,552	2,570	2,572	2,570	2,583	2,585	2,538	3,069
Total Current Liabilities	145	127	151	174	172	167	159	176	173	148	177
Accounts Payable	145	127	151	139	150	155	148	156	162	137	157
Accrued Expenses	-	-	-	13	22	12	11	21	11	11	20
Total Noncurrent Liabilities	2,394	2,406	2,406	2,378	2,399	2,405	2,411	2,406	2,412	2,391	2,892
Long-Term Debt	2,219	2,219	2,220	2,222	2,223	2,219	2,221	2,221	2,222	2,190	2,695
Capital Lease Obligations	-	-	-	120	120	120	119	119	118	118	119
Noncurrent Deferred Revenue	-	25	31	36	33	37	41	37	41	52	46
Other Noncurrent Operating Liabilities	175	162	155	-	23	30	30	30	31	31	31
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,393	2,400	2,384	2,338	2,348	2,316	2,248	2,240	2,208	2,157	2,165
Total Preferred & Common Equity	2,379	2,386	2,370	2,324	2,334	2,302	2,234	2,227	2,195	2,144	2,152
Preferred Stock	367	367	367	367	367	367	367	367	367	367	367
Total Common Equity	2,013	2,019	2,003	1,957	1,967	1,935	1,867	1,860	1,828	1,777	1,785
Common Stock	3,036	3,013	3,005	3,004	3,002	2,992	2,975	2,971	2,975	2,980	2,984
Retained Earnings	-1,058	-1,036	-1,041	-1,072	-1,057	-1,066	-1,116	-1,117	-1,150	-1,208	-1,206
Accumulated Other Comprehensive Income / (Loss)	34	42	40	25	22	8.84	8.49	5.11	2.89	4.57	6.74
Noncontrolling Interest	14	14	14	14	14	14	13	13	13	13	13

This table displays calculated financial ratios and metrics derived from RLJ Lodging Trust's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	151,085,078.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	151,085,078.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.02
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	143	256	122	274	225	-178	-138	118	150	155	120
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	2.48%	3.19%	3.33%	2.67%
Earnings before Interest and Taxes (EBIT)	206	267	190	290	210	-252	-205	132	157	164	129
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	366	433	378	532	424	-56	-13	326	347	355	327
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	167	548	-2,352	752	1,035	-32	92	-13	253	89	268
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,586	3,294	5,768	5,290	4,480	4,334	4,103	4,234	4,131	4,197	4,049
Increase / (Decrease) in Invested Capital	-24	-292	2,474	-478	-810	-146	-231	132	-103	65	-148
Book Value per Share	$17.36	$17.88	$17.93	$17.47	$16.63	$13.94	$12.19	$12.64	$12.64	$12.51	$11.93
Tangible Book Value per Share	$17.36	$17.87	$17.17	$17.17	$16.63	$13.94	$12.19	$12.64	$12.64	$12.51	$11.93
Total Capital	3,776	3,818	6,451	5,700	5,422	5,275	4,823	4,763	4,694	4,637	4,498
Total Debt	1,575	1,583	2,880	2,203	2,196	2,588	2,409	2,335	2,343	2,339	2,315
Total Long-Term Debt	1,575	1,583	2,880	2,203	2,196	2,588	2,409	2,335	2,343	2,339	2,315
Net Debt	1,386	1,059	2,198	1,796	1,253	1,646	1,689	1,791	1,781	1,898	1,866
Capital Expenditures (CapEx)	-97	-185	-77	-277	-529	68	-150	76	132	117	57
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-103	-111	-166	-152	-85	-126	-91	-153	-144	-150	-132
Debt-free Net Working Capital (DFNWC)	86	413	493	233	842	809	623	384	411	283	310
Net Working Capital (NWC)	86	413	493	233	842	809	623	384	411	283	310
Net Nonoperating Expense (NNE)	-77	55	46	83	95	231	173	76	73	86	92
Net Nonoperating Obligations (NNO)	1,386	1,059	2,198	1,793	1,253	1,646	1,689	1,806	1,781	1,898	1,866
Total Depreciation and Amortization (D&A)	161	167	188	242	214	196	192	194	190	192	198
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.69	$1.61	$0.47	$0.93	$0.59	($2.61)	($2.01)	$0.10	$0.32	$0.27	$0.01
Adjusted Weighted Average Basic Shares Outstanding	128.44M	123.65M	140.62M	174.23M	171.29M	164.50M	164.00M	161.95M	155.93M	152.86M	149.66M
Adjusted Diluted Earnings per Share	$1.68	$1.61	$0.47	$0.93	$0.59	($2.61)	($2.01)	$0.10	$0.32	$0.27	$0.01
Adjusted Weighted Average Diluted Shares Outstanding	128.97M	123.88M	140.69M	174.32M	171.39M	164.50M	164.00M	162.29M	156.56M	153.48M	149.91M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	124.63M	124.62M	174.85M	173.69M	168.59M	164.97M	166.48M	162.56M	155.78M	151.96M	151.92M
Normalized Net Operating Profit after Tax (NOPAT)	146	212	145	247	163	-180	-35	117	150	147	122
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from RLJ Lodging Trust's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	151,085,078.00	151,917,505.00	151,929,726.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	151,085,078.00	151,917,505.00	151,929,726.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-0.04	-0.04	0.16
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.80%	3.15%	3.46%	3.39%	3.22%	1.14%	-1.68%	-4.54%	-	3.61%	5.48%
EBITDA Growth	1.68%	-5.58%	-0.15%	11.13%	4.53%	2.79%	-5.41%	-23.46%	-	-1.72%	3.45%
EBIT Growth	5.04%	-14.65%	-0.16%	25.46%	7.92%	4.11%	-12.62%	-52.57%	-	-9.40%	5.00%
NOPAT Growth	7.68%	-25.20%	-0.27%	30.41%	2.34%	11.67%	-13.63%	-66.65%	-	-30.78%	5.70%
Net Income Growth	18.25%	-54.86%	-10.62%	26.31%	-31.46%	-33.16%	-23.22%	-118.40%	-	-111.00%	9.42%
EPS Growth	0.00%	-133.33%	-9.09%	50.00%	-200.00%	-100.00%	-25.00%	-177.78%	-	-150.00%	6.67%
Operating Cash Flow Growth	68.30%	-50.58%	19.38%	-10.07%	-20.15%	-21.51%	-10.75%	-20.97%	-	60.80%	13.11%
Free Cash Flow Firm Growth	220.34%	-217.90%	-563.86%	-158.68%	-129.84%	166.05%	235.56%	188.94%	-	28.36%	45.17%
Invested Capital Growth	-2.43%	4.98%	4.29%	3.84%	1.58%	-2.23%	-2.45%	-2.01%	-	-3.27%	-4.14%
Revenue Q/Q Growth	-4.40%	1.47%	13.84%	-6.38%	-4.56%	-0.57%	10.66%	-9.10%	-	3.46%	12.65%
EBITDA Q/Q Growth	-10.87%	-1.09%	46.74%	-14.10%	-16.16%	-2.73%	35.04%	-30.50%	-	-1.08%	42.15%
EBIT Q/Q Growth	-23.89%	-4.36%	132.00%	-25.71%	-34.52%	-7.73%	94.71%	-59.67%	-	-2.47%	125.65%
NOPAT Q/Q Growth	-22.74%	-16.18%	174.91%	-26.74%	-39.37%	-8.54%	112.62%	-71.72%	-	-10.38%	224.66%
Net Income Q/Q Growth	-50.80%	-40.97%	685.74%	-44.64%	-73.30%	-42.44%	802.62%	-113.27%	-	-163.57%	9,076.50%
EPS Q/Q Growth	-83.33%	-200.00%	2,100.00%	-55.00%	-111.11%	-100.00%	850.00%	-146.67%	-	0.00%	420.00%
Operating Cash Flow Q/Q Growth	-0.13%	-76.65%	446.67%	-29.45%	-11.33%	-77.05%	521.60%	-37.52%	-	-58.32%	337.25%
Free Cash Flow Firm Q/Q Growth	-32.35%	-241.02%	36.54%	3.07%	65.60%	412.14%	30.24%	-36.40%	-	-7.49%	47.30%
Invested Capital Q/Q Growth	1.60%	4.17%	-0.65%	-1.25%	-0.61%	0.27%	-0.87%	-0.81%	-	0.54%	-1.77%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	115.43%	91.42%	92.21%	100.00%	117.15%	91.71%	92.70%	91.93%	-	92.07%	93.01%
EBITDA Margin	23.47%	22.88%	29.49%	27.05%	23.76%	23.25%	28.37%	21.69%	-	22.05%	27.82%
Operating Margin	8.40%	7.18%	16.46%	12.98%	8.86%	8.14%	14.47%	6.36%	-	7.11%	14.47%
EBIT Margin	8.66%	8.17%	16.64%	13.21%	9.06%	8.41%	14.79%	6.56%	-	7.35%	14.72%
Profit (Net Income) Margin	2.51%	1.46%	10.10%	5.97%	1.67%	0.97%	7.89%	-1.15%	-	-0.10%	8.18%
Tax Burden Percent	97.24%	93.89%	98.96%	98.20%	91.41%	91.52%	98.83%	109.86%	-	410.59%	99.10%
Interest Burden Percent	29.85%	19.08%	61.31%	46.04%	20.17%	12.57%	53.94%	-15.96%	-	-0.34%	56.06%
Effective Tax Rate	2.76%	6.11%	1.04%	1.80%	8.59%	8.48%	1.17%	0.00%	-	0.00%	0.90%
Return on Invested Capital (ROIC)	2.59%	2.14%	5.24%	4.18%	2.66%	2.40%	4.63%	1.44%	-	1.64%	4.85%
ROIC Less NNEP Spread (ROIC-NNEP)	1.58%	1.21%	3.98%	2.87%	1.51%	1.32%	3.42%	0.48%	-	0.75%	3.60%
Return on Net Nonoperating Assets (RNNOA)	1.19%	0.94%	3.04%	2.20%	1.19%	1.13%	2.88%	0.40%	-	0.66%	3.07%
Return on Equity (ROE)	3.77%	3.08%	8.28%	6.37%	3.86%	3.53%	7.51%	1.84%	-	2.29%	7.92%
Cash Return on Invested Capital (CROIC)	6.05%	-1.45%	-0.79%	-0.08%	2.14%	5.96%	6.02%	5.00%	-	6.16%	7.18%
Operating Return on Assets (OROA)	2.32%	2.22%	4.55%	3.65%	2.53%	2.38%	4.15%	1.83%	-	2.10%	4.05%
Return on Assets (ROA)	0.67%	0.40%	2.76%	1.65%	0.47%	0.27%	2.21%	-0.32%	-	-0.03%	2.25%
Return on Common Equity (ROCE)	3.17%	2.59%	6.95%	5.34%	3.22%	2.95%	6.26%	1.53%	-	1.90%	6.55%
Return on Equity Simple (ROE_SIMPLE)	0.00%	3.05%	2.85%	3.07%	0.00%	2.98%	0.00%	0.00%	-	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	26	22	60	44	27	24	52	15	19	17	55
NOPAT Margin	8.16%	6.74%	16.29%	12.74%	8.09%	7.45%	14.31%	4.45%	-	4.97%	14.34%
Net Nonoperating Expense Percent (NNEP)	1.01%	0.93%	1.26%	1.30%	1.15%	1.08%	1.21%	0.96%	-	0.89%	1.25%
Return On Investment Capital (ROIC_SIMPLE)	0.56%	-	-	-	0.58%	0.53%	1.13%	0.32%	0.42%	0.38%	1.10%
Cost of Revenue to Revenue	-15.43%	8.58%	7.79%	0.00%	-17.15%	8.29%	7.30%	8.07%	-	7.93%	6.99%
SG&A Expenses to Revenue	70.14%	70.46%	64.65%	68.37%	69.40%	70.00%	65.34%	71.25%	-	70.00%	65.93%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Operating Expenses to Revenue	99.33%	92.82%	75.76%	87.02%	99.86%	83.57%	78.23%	85.57%	-	84.96%	78.54%
Earnings before Interest and Taxes (EBIT)	28	26	61	46	30	28	54	22	26	25	56
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	75	74	109	94	78	76	103	72	76	75	107
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.88	0.93	0.76	0.74	0.82	0.64	0.59	0.60	-	0.63	1.01
Price to Tangible Book Value (P/TBV)	0.88	0.93	0.76	0.74	0.82	0.64	0.59	0.60	-	0.63	1.01
Price to Revenue (P/Rev)	1.31	1.36	1.11	1.05	1.14	0.87	0.81	0.81	-	0.83	1.30
Price to Earnings (P/E)	33.88	39.99	36.36	31.30	36.48	29.01	33.80	130.50	-	0.00	727.72
Dividend Yield	3.23%	3.25%	4.15%	4.90%	4.90%	6.97%	8.24%	8.33%	-	8.09%	5.06%
Earnings Yield	2.95%	2.50%	2.75%	3.19%	2.74%	3.45%	2.96%	0.77%	-	0.00%	0.14%
Enterprise Value to Invested Capital (EV/IC)	0.94	0.96	0.89	0.88	0.92	0.84	0.82	0.82	-	0.84	1.00
Enterprise Value to Revenue (EV/Rev)	2.94	3.11	2.83	2.73	2.81	2.58	2.50	2.51	-	2.51	2.91
Enterprise Value to EBITDA (EV/EBITDA)	11.24	12.11	11.13	10.55	10.83	9.91	9.72	10.32	-	10.51	12.20
Enterprise Value to EBIT (EV/EBIT)	24.88	27.26	25.06	23.00	23.51	21.50	21.78	25.58	-	27.15	31.20
Enterprise Value to NOPAT (EV/NOPAT)	26.02	29.01	26.70	24.26	24.88	22.43	22.86	27.42	-	29.16	33.24
Enterprise Value to Operating Cash Flow (EV/OCF)	12.37	14.11	12.20	12.23	13.47	12.60	12.71	13.49	-	13.48	15.03
Enterprise Value to Free Cash Flow (EV/FCFF)	15.42	0.00	0.00	0.00	43.05	13.95	13.44	16.27	-	13.42	13.69
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.00	1.00	1.00	1.01	1.02	1.04	1.04	1.06	-	1.07	1.30
Long-Term Debt to Equity	1.00	1.00	1.00	1.01	1.02	1.04	1.04	1.06	-	1.07	1.30
Financial Leverage	0.75	0.78	0.76	0.76	0.79	0.86	0.84	0.85	-	0.88	0.85
Leverage Ratio	2.07	2.08	2.07	2.09	2.11	2.12	2.12	2.14	-	2.16	2.28
Compound Leverage Factor	0.62	0.40	1.27	0.96	0.43	0.27	1.15	-0.34	-	-0.01	1.28
Debt to Total Capital	49.92%	50.05%	49.94%	50.24%	50.44%	51.01%	51.08%	51.46%	-	51.70%	56.52%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Long-Term Debt to Total Capital	49.92%	50.05%	49.94%	50.24%	50.44%	51.01%	51.08%	51.46%	-	51.70%	56.52%
Preferred Equity to Total Capital	7.82%	7.84%	7.82%	7.88%	7.91%	8.00%	8.01%	8.07%	-	8.22%	7.37%
Noncontrolling Interests to Total Capital	0.30%	0.29%	0.29%	0.29%	0.30%	0.29%	0.29%	0.29%	-	0.29%	0.26%
Common Equity to Total Capital	41.97%	41.82%	41.94%	41.58%	41.35%	40.70%	40.61%	40.18%	-	39.80%	35.85%
Debt to EBITDA	6.76	6.84	6.84	6.65	6.59	6.55	6.66	7.11	-	7.10	8.56
Net Debt to EBITDA	5.13	5.68	5.63	5.42	5.35	5.49	5.50	5.86	-	5.88	5.57
Long-Term Debt to EBITDA	6.76	6.84	6.84	6.65	6.59	6.55	6.66	7.11	-	7.10	8.56
Debt to NOPAT	15.64	16.38	16.42	15.29	15.14	14.83	15.66	18.88	-	19.68	23.31
Net Debt to NOPAT	11.88	13.59	13.51	12.47	12.28	12.42	12.92	15.57	-	16.31	15.18
Long-Term Debt to NOPAT	15.64	16.38	16.42	15.29	15.14	14.83	15.66	18.88	-	19.68	23.31
Altman Z-Score	0.49	0.47	0.43	0.41	0.42	0.32	0.32	0.28	-	0.28	0.52
Noncontrolling Interest Sharing Ratio	15.94%	16.09%	16.04%	16.20%	16.38%	16.60%	16.59%	16.82%	-	17.26%	17.26%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.41	2.40	2.55	2.70	2.61	2.52	2.43	2.51	-	2.84	5.67
Quick Ratio	3.19	2.17	2.34	2.47	2.48	2.36	2.28	2.34	-	2.60	5.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	129	-182	-116	-112	-39	120	157	100	167	154	227
Operating Cash Flow to CapEx	292.91%	61.45%	294.28%	230.99%	241.29%	71.89%	288.05%	212.83%	-	92.44%	554.06%
Free Cash Flow to Firm to Interest Expense	5.10	-6.88	-4.12	-3.89	-1.37	4.37	5.61	3.52	-	5.50	8.08
Operating Cash Flow to Interest Expense	3.52	0.78	4.05	2.78	2.52	0.59	3.63	2.24	-	0.93	4.07
Operating Cash Flow Less CapEx to Interest Expense	2.32	-0.49	2.67	1.58	1.47	-0.23	2.37	1.19	-	-0.08	3.34
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.27	0.27	0.27	0.28	0.28	0.28	0.28	0.28	-	0.29	0.27
Accounts Receivable Turnover	40.98	39.32	37.10	36.52	53.02	50.61	46.62	47.56	-	46.25	47.84
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Fixed Asset Turnover	0.32	0.00	0.00	0.00	0.33	0.32	0.32	0.32	-	0.33	0.33
Accounts Payable Turnover	0.00	0.73	0.78	0.70	0.00	0.00	0.00	0.00	-	0.71	0.65
Days Sales Outstanding (DSO)	8.91	9.28	9.84	9.99	6.88	7.21	7.83	7.67	-	7.89	7.63
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Days Payable Outstanding (DPO)	0.00	500.14	469.62	518.86	0.00	0.00	0.00	0.00	-	514.60	561.83
Cash Conversion Cycle (CCC)	8.91	-490.86	-459.78	-508.86	6.88	7.21	7.83	7.67	-	-506.71	-554.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,131	4,304	4,276	4,222	4,197	4,208	4,171	4,137	4,049	4,070	3,998
Invested Capital Turnover	0.32	0.32	0.32	0.33	0.33	0.32	0.32	0.32	-	0.33	0.34
Increase / (Decrease) in Invested Capital	-103	204	176	156	65	-96	-105	-85	-148	-137	-173
Enterprise Value (EV)	3,899	4,147	3,810	3,711	3,844	3,540	3,416	3,398	-	3,420	4,014
Market Capitalization	1,738	1,823	1,501	1,423	1,565	1,199	1,104	1,088	-	1,127	1,800
Book Value per Share	$12.64	$12.79	$12.62	$12.48	$12.51	$12.29	$12.26	$12.09	$11.93	$11.70	$11.75
Tangible Book Value per Share	$12.64	$12.79	$12.62	$12.48	$12.51	$12.29	$12.26	$12.09	$11.93	$11.70	$11.75
Total Capital	4,694	4,680	4,690	4,654	4,637	4,588	4,580	4,549	4,498	4,465	4,979
Total Debt	2,343	2,342	2,343	2,338	2,339	2,340	2,339	2,341	2,315	2,308	2,814
Total Long-Term Debt	2,343	2,342	2,343	2,338	2,339	2,340	2,339	2,341	2,315	2,308	2,814
Net Debt	1,781	1,944	1,928	1,907	1,898	1,960	1,931	1,929	1,866	1,914	1,834
Capital Expenditures (CapEx)	30	34	39	35	29	23	35	30	15	28	21
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-144	-147	-141	-141	-150	-131	-148	-143	-132	-116	-147
Debt-free Net Working Capital (DFNWC)	411	244	267	284	283	241	253	261	310	271	826
Net Working Capital (NWC)	411	244	267	284	283	241	253	261	310	271	826
Net Nonoperating Expense (NNE)	18	17	23	23	21	21	23	18	18	17	24
Net Nonoperating Obligations (NNO)	1,781	1,966	1,928	1,907	1,898	1,960	1,931	1,929	1,866	1,914	1,834
Total Depreciation and Amortization (D&A)	47	48	47	48	49	49	49	50	50	50	50
Debt-free, Cash-free Net Working Capital to Revenue	-10.88%	-11.03%	-10.44%	-10.35%	-10.96%	-9.56%	-10.86%	-10.56%	-	-8.54%	-10.64%
Debt-free Net Working Capital to Revenue	31.02%	18.25%	19.77%	20.88%	20.69%	17.56%	18.49%	19.34%	-	19.91%	59.81%
Net Working Capital to Revenue	31.02%	18.25%	19.77%	20.88%	20.69%	17.56%	18.49%	19.34%	-	19.91%	59.81%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.01	($0.01)	$0.20	$0.09	($0.01)	($0.02)	$0.15	($0.07)	($0.05)	($0.05)	$0.16
Adjusted Weighted Average Basic Shares Outstanding	155.93M	152.97M	153.64M	153.07M	152.86M	150.91M	149.53M	149.13M	149.66M	149.32M	149.88M
Adjusted Diluted Earnings per Share	$0.01	($0.01)	$0.20	$0.09	($0.01)	($0.02)	$0.15	($0.07)	($0.05)	($0.05)	$0.16
Adjusted Weighted Average Diluted Shares Outstanding	156.56M	152.97M	154.11M	153.24M	153.48M	150.91M	149.60M	149.13M	149.91M	149.32M	150.93M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	155.78M	155.90M	155.02M	153.31M	151.96M	151.71M	151.16M	151.09M	151.92M	151.93M	152.38M
Normalized Net Operating Profit after Tax (NOPAT)	26	22	57	40	27	23	52	15	21	19	56
Normalized NOPAT Margin	8.22%	6.75%	15.36%	11.45%	8.10%	7.09%	14.42%	4.51%	-	5.73%	14.54%
Pre Tax Income Margin	2.59%	1.56%	10.20%	6.08%	1.83%	1.06%	7.98%	-1.05%	-	-0.03%	8.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.09	1.00	2.19	1.59	1.06	1.00	1.92	0.77	-	0.89	2.00
NOPAT to Interest Expense	1.03	0.83	2.14	1.53	0.95	0.89	1.86	0.52	-	0.60	1.95
EBIT Less CapEx to Interest Expense	-0.11	-0.28	0.82	0.38	0.02	0.18	0.66	-0.29	-	-0.12	1.27
NOPAT Less CapEx to Interest Expense	-0.17	-0.45	0.77	0.33	-0.10	0.06	0.60	-0.53	-	-0.41	1.22
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	96.99%	115.37%	127.36%	123.73%	139.21%	154.06%	189.28%	348.68%	-	465.15%	419.93%
Augmented Payout Ratio	196.15%	192.76%	176.75%	170.11%	171.47%	215.09%	257.51%	426.66%	-	496.24%	424.78%

Financials Breakdown Chart

Key Financial Trends

RLJ Lodging Trust’s second-quarter 2026 results showed improving operating performance and strong cash generation, but the balance sheet also reflects a significant increase in debt. Revenue rose to $383.0 million from $363.1 million in the year-ago quarter, a gain of approximately 5.5%. Operating income increased to $55.4 million from $52.6 million, while consolidated net income advanced to $31.3 million from $28.6 million. Net income attributable to common shareholders improved to $24.8 million, or $0.16 per diluted share, compared with $0.15 in Q2 2025.

The longer-term revenue trend is generally positive. Quarterly revenue increased from $330.5 million in Q2 2022 to $383.0 million in Q2 2026, although results have fluctuated with lodging demand and seasonality. Operating income has remained below the roughly $60.8 million reported in Q2 2023 and Q2 2024, indicating that higher revenue has not fully translated into operating-profit growth.

Cash flow was a notable strength in the latest quarter. Cash flow from operating activities reached $114.6 million, up from $101.3 million in Q2 2025 and the strongest Q2 figure in the provided period. Capital expenditures declined to $20.7 million from $35.2 million, producing estimated operating cash flow less capital expenditures of approximately $93.9 million. The company also ended Q2 with $937.6 million of cash and equivalents, compared with $353.1 million at the end of Q1 2026.

However, the sharp cash increase was driven primarily by financing activity rather than operations. RLJ reported a $479.3 million net cash inflow from financing activities and a $585.9 million increase in cash during the quarter. Investors should review the underlying financing details because the standardized data lists debt repayment and dividends but does not separately identify the apparent source of the large financing inflow.

Leverage is the principal concern. Long-term debt increased to $2.70 billion at June 30, 2026, from $2.19 billion at March 31, while capital lease obligations were $119.3 million. Total liabilities rose to $3.07 billion from $2.54 billion at the end of Q1. Interest expense also remained elevated at $28.1 million in Q2, limiting the benefit of stronger operating income. Preferred stock totaled $366.9 million, and quarterly preferred dividends were approximately $6.3 million.

Revenue increased approximately 5.5% year over year to $383.0 million, the highest Q2 revenue level in the supplied history.
Consolidated net income rose approximately 9.4% year over year to $31.3 million, while diluted EPS improved to $0.16.
Operating cash flow increased to $114.6 million from $101.3 million in Q2 2025.
Lower capital spending of $20.7 million helped produce approximately $93.9 million of operating cash flow after capital expenditures.
Cash and equivalents reached $937.6 million, providing a larger liquidity cushion for hotel operations, debt management and capital needs.
Operating assets and liabilities provided a $29.0 million cash benefit in Q2 2026, reversing the $31.1 million use of cash recorded in Q1.
The $479.3 million financing cash inflow substantially increased liquidity, but the supplied standardized data does not clearly identify the specific financing source.
Revenue has grown over the multi-year period, but operating income remains below the Q2 2023 and Q2 2024 levels, suggesting that cost pressures continue to offset part of the growth.
Long-term debt increased by approximately $505 million from Q1 2026, raising refinancing and interest-rate risk.
Retained earnings remained deeply negative at approximately $1.21 billion, while total equity declined year over year to $2.16 billion from $2.24 billion.

For holders of RLJ Lodging Trust’s Series A preferred shares, the key takeaway is mixed: operating cash flow and liquidity appear sufficient to support the company’s recurring distributions in the latest quarter, but the increased debt burden and elevated interest expense reduce financial flexibility. Continued monitoring of debt issuance, refinancing terms, operating margins and coverage of preferred dividends will be important.

08/14/26 11:15 AM ETAI Generated. May Contain Errors.

RLJ Lodging Trust Financials - Frequently Asked Questions

According to the most recent income statement we have on file, RLJ Lodging Trust's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

RLJ Lodging Trust's net income appears to be on a downward trend, with a most recent value of $28.55 million in 2025, falling from $219.81 million in 2015. The previous period was $68.19 million in 2024. See where experts think RLJ Lodging Trust is headed by visiting RLJ Lodging Trust's forecast page.

RLJ Lodging Trust's total operating income in 2025 was $125.09 million, based on the following breakdown:

Total Gross Profit: $1.25 billion
Total Operating Expenses: $1.12 billion

Over the last 10 years, RLJ Lodging Trust's total revenue changed from $1.14 billion in 2015 to $1.35 billion in 2025, a change of 18.8%.

RLJ Lodging Trust's total liabilities were at $2.56 billion at the end of 2025, a 1.0% decrease from 2024, and a 44.4% increase since 2015.

In the past 10 years, RLJ Lodging Trust's cash and equivalents has ranged from $134.19 million in 2015 to $899.81 million in 2020, and is currently $410.16 million as of their latest financial filing in 2025.

Over the last 10 years, RLJ Lodging Trust's book value per share changed from 17.36 in 2015 to 11.93 in 2025, a change of -31.3%.

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Financial statements for NYSE:RLJ last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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RLJ Lodging Trust (RLJ) Financials

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RLJ Lodging Trust (RLJ) Financials

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