Marriott Vacations Worldwide Earnings: Here’s Why Shares are Down Now
Marriott Vacations Worldwide Corp (NYSE:VAC) delivered a profit and beat 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 0.36 %.
Marriott Vacations Worldwide Corp Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 121.21% to $0.73 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Rose 9.92% to $421 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.73 per share. By that measure, the company beat the mean analyst estimate of $0.48. It beat the average revenue estimate of $403.25 million.
Quoting Management: “Our second quarter continued our trend of strong adjusted EBITDA growth, driven by improved adjusted development margin and better results in our rental and resort management businesses,” said Stephen P. Weisz, president and chief executive officer. “More efficient marketing and sales spending was integral to our improvement as we continue to leverage our fixed costs and drive higher development margin. We have increased our adjusted free cash flow guidance by $65 million, driven primarily by lower projected cash income taxes, and, given the positive trends in our business year-to-date, we now expect our adjusted EBITDA to be at the high end of our full year guidance range for 2013.”
Key Stats (on next page)…