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Marriott Q2 Earnings Top Estimates

  • Marriott International Inc (NASDAQ: MAR) reported second-quarter FY22 sales growth of 69.5% year-on-year to $5.34 billion, beating the consensus of $4.92 billion.

  • Comparable systemwide constant dollar RevPAR increased 70.6% worldwide, 66.1% in the U.S. & Canada, and 87.8% in international markets, compared to Q2 FY21.

  • Comparable systemwide constant dollar RevPAR declined 2.9% worldwide, 14.1% in international markets, but increased 1.3% in the U.S. & Canada compared to Q2 FY19.

  • Total expenses rose 64.7% Y/Y to $4.4 billion. Adjusted EBITDA for the quarter was $1 billion.

  • The operating margin for the quarter was 17.7%, with operating income nearly doubling to $950 million.

  • Adjusted EPS of $1.80 beat the analyst consensus of $1.54.

  • The company added roughly 17,000 rooms globally during Q2.

  • Marriott resumed share repurchases in Q2, repurchasing 1.9 million shares of common stock for $300 million. Year-to-date through July 29, the company has repurchased 2.9 million shares for $448 million.

  • Outlook: Marriott sees Q3 comparable systemwide constant dollar RevPAR growth of Flat to +3% versus 3Q19. Adjusted EPS of $1.59 - $1.69, versus the consensus of $1.60.

  • The company expects FY22 comparable systemwide constant dollar RevPAR decline of 6% - 3%. Adjusted EPS of $6.33 - $6.59, against the consensus of $5.97.

  • Price Action: MAR shares are trading higher by 1.42% at $157.30 on the last check Tuesday.

  • Photo Via Company

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