Marriott (MAR) Tops Q2 EPS by 11c
Marriott (NASDAQ: MAR) reported Q2 EPS of $1.13, $0.11 better than the analyst estimate of $1.02. Revenue for the quarter came in at $5.8 billion versus the consensus estimate of $5.61 billion.
GUIDANCE:
The company assumes full year 2017 total fee revenue will total $3,245 million to $3,305 million.
Marriott expects full year 2017 adjusted EBITDA could total $3,131 million to $3,201 million. This estimate reflects the negative impact of hotels previously sold. See page A-14 for the adjusted EBITDA calculation.
Third Quarter 2017 | Fourth Quarter 2017 | Full Year 2017 | |
Total fee revenue1 | $810 million to $825 million | $804 million to $849 million | $3,245 million to $3,305 million |
Owned, leased and other revenue, net of direct expenses1 | Approx. $75 million | Approx. $97 million | Approx. $355 million |
Depreciation, amortization, and other expenses | Approx. $70 million | Approx. $73 million | Approx. $290 million |
General, administrative, and other expenses | $215 million to $220 million | $229 million to $234 million | $880 million to $890 million |
Operating income | $595 million to $615 million | $594 million to $644 million | $2,420 million to $2,490 million |
Gains and other income | Approx. $0 million | Approx. $0 million | Approx. $25 million |
Net interest expense2 | Approx. $60 million | Approx. $67 million | Approx. $255 million |
Equity in earnings (losses) | Approx. $5 million | Approx. $7 million | Approx. $35 million |
Earnings per share3 | $0.96 to $0.99 | $0.96 to $1.05 | $4.06 to $4.18 |
Tax rate4 | 33.0 percent | 33.0 percent | 30.5 percent |
For earnings history and earnings-related data on Marriott (MAR) click here.