Marriott (MAR) Reports 25% Rise in Q3 Net Profit; Provides Wide FY12 RevPAR Outlook
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Price: $42.64 +0.14%
EPS Growth %: +43.3%
Financial Fact:
Revenue: 3.14B
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EPS Growth %: +43.3%
Financial Fact:
Revenue: 3.14B
Today's EPS Names:
ANF, DXLG, FL, More
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Marriott (NYSE: MAR) shares are trading lower in the post-market session Wednesday following the company's third-quarter earnings report and forward-looking expectations.
Revenue increased 8.5 percent from $2.648 billion during the third quarter of 2010 to $2.874 billion.
Global RevPAR increased 6.9 percent. Marriott said "excluding the Middle East and Japan markets, worldwide comparable system-wide RevPAR rose 7.4 percent."
Marriott reported it's quarterly loss rose from $83 million in the year-ago quarter to $179 million. After adjustments were made, net income rose 25 percent to $104 million, or 29 cents per diluted share.
Analysts on the Street were looking for revenue of $2.82 billion and earnings of 27 cents per share.
CEO J.W. Marriott, Jr., said Marriott's timeshare spinoff is "on track and we expect to conclude the transaction in the 2011 fourth quarter." J.W. said Marriott is "cautiously optimistic about 2012," but noted it is "well-positioned for continued growth."
Fourth-quarter revPAR is expected to increase 6 to 8 percent, or 5 to 7 percent on a constant dollar basis. Earnings are expected to be 45 to 50 cents per share, compared to the consensus of 49 cents per share.
For fiscal 2011, adjusted earnings are expected to be $1.27 to $1.31 per share, versus the consensus of $1.39.
RevPAR during fiscal 2012 is expected to be 3 to 7 percent, with earnings of $1.48 to $1.68 per share. The Street is currently looking for earnings of $1.72 per share.
Marriott shares are trading very modestly higher following the results.
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Revenue increased 8.5 percent from $2.648 billion during the third quarter of 2010 to $2.874 billion.
Global RevPAR increased 6.9 percent. Marriott said "excluding the Middle East and Japan markets, worldwide comparable system-wide RevPAR rose 7.4 percent."
Marriott reported it's quarterly loss rose from $83 million in the year-ago quarter to $179 million. After adjustments were made, net income rose 25 percent to $104 million, or 29 cents per diluted share.
Analysts on the Street were looking for revenue of $2.82 billion and earnings of 27 cents per share.
CEO J.W. Marriott, Jr., said Marriott's timeshare spinoff is "on track and we expect to conclude the transaction in the 2011 fourth quarter." J.W. said Marriott is "cautiously optimistic about 2012," but noted it is "well-positioned for continued growth."
Fourth-quarter revPAR is expected to increase 6 to 8 percent, or 5 to 7 percent on a constant dollar basis. Earnings are expected to be 45 to 50 cents per share, compared to the consensus of 49 cents per share.
For fiscal 2011, adjusted earnings are expected to be $1.27 to $1.31 per share, versus the consensus of $1.39.
RevPAR during fiscal 2012 is expected to be 3 to 7 percent, with earnings of $1.48 to $1.68 per share. The Street is currently looking for earnings of $1.72 per share.
Marriott shares are trading very modestly higher following the results.
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