Marriott International Inc. Earnings: Profit Decreases

S&P 500 (NYSE:SPY) component Marriott International Inc. (NYSE:MAR) reported its results for the fourth quarter. Marriott International operates and franchises hotels and related lodging facilities throughout the world.

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Marriott International Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the lodging company fell to $141 million (41 cents per share) vs. $173 million (46 cents per share) a year earlier. This is a decline of 18.5% from the year earlier quarter.

Revenue: Rose 1.4% to $3.69 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: Marriott International Inc. reported adjusted net income of 46 cents per share. By that measure, the company fell short of mean estimate of 47 cents per share. It fell short of the average revenue estimate of $3.77 billion.

Quoting Management: J.W. Marriott, Jr., chairman and chief executive officer of Marriott International, said, “2011 was a great year. Occupancies and room rates improved at our hotels in most markets around the world. We increased our global hotel distribution and spun off our timeshare business as Marriott Vacations Worldwide Corporation, a new separately traded public company. Return on invested capital increased dramatically and meaningful top line growth in our lodging business helped drive base and franchise fees beyond their prior peak in 2008. Adjusted earnings per share was outstanding and we returned over $1.5 billion to our shareholders through share repurchases and dividends.”

Key Stats:

Revenue has risen the past four quarters. Revenue increased 8.5% to $2.87 billion in the third quarter. The figure rose 19.6% in the second quarter from the year earlier and climbed 5.6% in the first quarter from the year-ago quarter.

The company fell short of estimates last quarter after beating the mark the quarter before with net income of 29 cents versus a mean estimate of net income of 27 cents per share.

The company reported a profit last quarter after being in the red the prior quarter. In the second quarter, the company booked a net loss of $135 million or a loss of 37 cents per share.

Looking Forward: Analysts have a more positive outlook for the company’s next quarter performance. Over the past month, the average estimate for the first quarter of the next fiscal year has gone up from 30 cents per share to 31 cents. The average estimate hasn’t changed from $1.39 per share for the fiscal year.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com