Marriott Vacations Worldwide (NYSE: VAC) reported Q1 EPS of ($0.49), $0.22 worse than the analyst estimate of ($0.27). Revenue for the quarter came in at $759 million versus the consensus estimate of $794.77 million.

First Quarter 2021 Highlights and Operational Update:

• Consolidated Vacation Ownership contract sales totaled $226 million in the first quarter of 2021, with VPG increasing 26% compared to the prior year to $4,644.
• Net loss attributable to common shareholders was $28 million, or $0.68 loss per fully diluted share.
• Adjusted net loss attributable to common shareholders was $20 million and adjusted fully diluted loss per share was $0.49.
• Adjusted EBITDA was $69 million in the first quarter of 2021.
• Pro-forma for the acquisition of Welk Resorts, which closed on April 1, the Company had $1.4 billion of liquidity, including unrestricted cash and cash equivalents of $432 million.

"The past year has reminded us what is really important in life – family, experiences, and togetherness, all the things that travel offers. As a company whose products enable these unique and memorable occasions, it's been gratifying to see more and more people at our resorts this year, illustrating the desire of our customers to get back on vacation," said Stephen P. Weisz, chief executive officer. "Our results this quarter are evidence of the continued recovery in our business and the resiliency of our business model. We generated $226 million in contract sales in the first quarter, a 27% sequential increase, and currently expect contract sales to increase to $320 million to $340 million in the second quarter."

For earnings history and earnings-related data on Marriott Vacations Worldwide (VAC) click here.