Marriott International, Inc. (NYSE:MAR) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 3.18%.
Marriott International, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 35.71% to $0.57 in the quarter versus EPS of $0.42 in the year-earlier quarter.
Revenue: Rose 17.54% to $3.26 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Marriott International, Inc. reported adjusted EPS income of $0.57 per share. By that measure, the company missed the mean analyst estimate of $0.57. It beat the average revenue estimate of $3.21 billion.
Quoting Management: Arne M. Sorenson, president and chief executive officer of Marriott International, said, “We were pleased with our second quarter results and believe they reflect the core strength of our business model. Modest economic growth combined with historically low supply increases in the industry helped us post 5.2 percent systemwide REVPAR growth in North America. Both business and leisure transient demand were strong in the quarter, more than offsetting weak short-term group business. As occupancy rates reach 2007 peak levels for many brands, room rates are moving higher, improving hotel profitability and incentive fees.”
Key Stats (on next page)…