Marriott Vacations Worldwide (NYSE: VAC) reported Q2 EPS of $0.39, versus $1.82 reported last year. Revenue for the quarter came in at $594.69 million versus the consensus estimate of $590.5 million.

"In the second quarter, we saw a continuation of the momentum we gained at the end of the first quarter. Contract sales were $233 million, an increase of 8 percent year-over-year, and adjusted EBITDA was strong at $76 million, both in line with our expectations," said Stephen P. Weisz, president and chief executive officer. "Our new sales locations continue to mature, our marketing programs are generating increasing tour flow, and our volume per guest continues to grow. Based on our performance for the first half of the year and our expectations for the remainder of the year, we are confident we can achieve our 2018 full year guidance of contract sales growth between 7 and 12 percent, adjusted net income of $184 million to $195 million, and adjusted EBITDA of $310 million to $325 million. Regarding the proposed transaction with ILG, I'm pleased to say that we've received the required regulatory approvals and, assuming all other remaining conditions are satisfied, including approval from shareholders of both MVW and ILG, we anticipate closing on the transaction on August 31, 2018."

GUIDANCE:

Marriott Vacations Worldwide sees FY2018 EPS of $5.45-$5.85, versus the consensus of $7.07.

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