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Ashford Inc. (AINC) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Ashford Inc.

HISTORY TOOLS
CIK: 1604738 Ticker: AINC
EXHIBIT 99.1


ashfordk150dpa03.jpg
NEWS RELEASE

Contact:  
 
Deric Eubanks
 
Jordan Jennings
 
Joe Calabrese
 
 
Chief Financial Officer
 
Investor Relations
 
Financial Relations Board
 
 
(972) 490-9600
 
(972) 778-9487
 
(212) 827-3772

ASHFORD REPORTS THIRD QUARTER 2019 RESULTS
Gross Assets Under Management $8.1 Billion at Quarter End
Total Revenue Increased 37% in the Third Quarter
Net Loss Attributable to Common Stockholders was $9.4 Million in the Third Quarter
Adjusted EBITDA Increased 104% in the Third Quarter
Adjusted Net Income Per Share Increased 111% in the Third Quarter
Closed on Acquisition of Sebago
Announced Formation of Ashford Securities
Repurchased Stock from Ashford Trust and Braemar Hotels & Resorts
Obtained Stockholder Approval for Acquisition of Remington’s Hotel Management Business

DALLAS, October 30, 2019 - Ashford Inc. (NYSE American: AINC) (“Ashford” or the “Company”) today reported the following results and performance measures for the third quarter ended September 30, 2019. Unless otherwise stated, all reported results compare the third quarter ended September 30, 2019, with the third quarter ended September 30, 2018 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.
STRATEGIC OVERVIEW
•
High-growth, fee-based business model
•
Diversified platform of multiple fee generators
•
Seeks to grow in two primary areas:
◦
Grow our existing REIT platforms accretively and create new platforms; and
◦
Grow our service businesses via increased AUM and third-party business
•
Highly-aligned management team with superior long-term track record
•
Leader in asset and investment management for the real estate & hospitality sectors

FINANCIAL AND OPERATING HIGHLIGHTS
•
Net loss attributable to common stockholders for the third quarter of 2019 totaled $9.4 million, or $3.94 per diluted share, compared with net income of $1.4 million, or $0.18 per diluted share, in the prior-year quarter. Adjusted net income for the third quarter was $7.0 million, or $1.58 per diluted share, compared with $2.6 million, or $0.75 per diluted share, in the prior-year quarter.
•
Total revenue for the third quarter of 2019 was $56.9 million, reflecting a growth rate of 36.9% over the prior-year quarter.
•
Adjusted EBITDA for the third quarter was $8.4 million, reflecting a growth rate of 104.1% over the prior-year quarter.
•
At the end of the third quarter of 2019, the Company had approximately $8.1 billion of gross assets under management.

The following information was filed by Ashford Inc. (AINC) on Wednesday, October 30, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ashford Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Ashford Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Equity
Condensed Consolidated Statements Of Operations
Acquisitions
Acquisitions (Tables)
Acquisitions - Narrative (Details)
Acquisitions - Schedules (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Deferred Compensation Plan
Deferred Compensation Plan (Details)
Deferred Compensation Plan (Tables)
Equity
Equity (Details)
Equity (Tables)
Equity-Based Compensation
Equity-Based Compensation (Details)
Equity-Based Compensation (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Goodwill (Details)
Goodwill And Intangible Assets, Net - Intangible Assets (Details)
Goodwill And Intangible Assets, Net - Narrative (Details)
Income (Loss) Per Share
Income (Loss) Per Share (Details)
Income (Loss) Per Share (Tables)
Leases
Leases (Tables)
Leases - Lease Balances And Other Information (Details)
Leases - Lease Commitments (Details)
Leases - Lease Expense And Cash Outflows From Operating And Finance Leases (Details) (Details)
Leases - Maturities Of Operating And Financing Lease Liabilities (Details)
Mezzanine Equity
Mezzanine Equity (Details)
Mezzanine Equity (Tables)
Notes Payable, Net
Notes Payable, Net (Details)
Notes Payable, Net (Tables)
Organization And Description Of Business
Organization And Description Of Business (Details)
Related Party Transactions
Related Party Transactions (Details)
Related Party Transactions (Tables)
Revenues
Revenues (Details)
Revenues (Tables)
Segment Reporting
Segment Reporting (Details)
Segment Reporting (Tables)
Significant Accounting Policies
Significant Accounting Policies (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Subsequent Events
Subsequent Events (Details)
Summary Of Fair Value Of Financial Instruments
Summary Of Fair Value Of Financial Instruments (Details)
Summary Of Fair Value Of Financial Instruments (Tables)
Ticker: AINC
CIK: 1604738
Form Type: 10-Q Quarterly Report
Accession Number: 0001604738-19-000047
Submitted to the SEC: Thu Nov 07 2019 7:56:04 AM EST
Accepted by the SEC: Thu Nov 07 2019
Period: Monday, September 30, 2019
Industry: Management Consulting Services

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