Marriott International, Inc. (MAR – Free Report) just released its third quarter 2017 financial results, posting earnings of $1.04 per share and revenues of $5.66 billion. Currently, Marriott is a Zacks Rank #2 (Buy) and is up marginally to $123.31 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of $1.04 per share, beating the Zacks Consensus Estimate of $0.98 per share.
Beat revenue estimates. The company saw revenue figures of $5.66 billion, topping our consensus estimate of $4.98 billion.
Marriott’s revenues jumped 44% from $3.94 billion in the year-ago period. On top of that, the resort giant reported net income of $392 million in Q3, which is up from $70 in 2016. The company’s EPS also skyrocketed 300%.
The hotel giant now expects to post Q4 earnings between $0.98 per share and $1.00 per share. For the full-year, Marriott projects that it will post EPS in the range of $4.22 to $4.24.
“The business related to the hurricane response increased North American lodging demand modestly in the third quarter, even as business transient and group demand was in line with expectations,” CEO Arne M. Sorenson said in a statement. “Outside North America, strong leisure demand in Asia and Europe drove RevPAR above our guidance.”
Here’s a graph that looks at Marriott’s Price, Consensus and EPS Surprise history:
Marriott International, Inc. operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Ramada International brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club International, Horizons, The Ritz-Carlton Club and Marriott Grand Residence Club brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers.
Check back later for our full analysis on Marriott’s earnings report!
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