Marriott Int'l. (MAR) Tops Q3 EPS by 4c, Guides Q4 EPS In-Line at Mid-Point

Marriott Int'l. (NASDAQ: MAR) reported Q3 EPS of $0.65, $0.04 better than the analyst estimate of $0.61. Revenue for the quarter came in at $3.46 billion versus the consensus estimate of $3.43 billion.

Marriott Int'l. sees FY2014 EPS of $2.48-$2.52, versus prior guidance of $2.4-$2.51 and the consensus of $2.53.

Marriott Int'l. sees Q4 2014 EPS of $0.62-$0.66, versus the consensus of $0.64.

OUTLOOKFor the 2014 fourth quarter, the company expects comparable systemwide RevPAR on a constant dollar basis will increase 5 to 7 percent in North America, 4 to 6 percent outside North America and 5 to 7 percent worldwide.

The company anticipates gross room additions of 7 percent worldwide for the full year 2014 including the 10,016 rooms associated with the Protea acquisition. Net of deletions, the company expects its portfolio of rooms will increase by approximately 6 percent in 2014.

The company assumes full year fee revenue could total $1,714 million to $1,724 million, growth of 11 to 12 percent over 2013 fee revenue of $1,543 million.

For 2014, the company anticipates general, administrative and other expenses will total $654 million to $659 million, up 1 to 2 percent compared to 2013 expenses of $649 million.

Given these assumptions, 2014 diluted EPS could total $2.48 to $2.52, a 24 to 26 percent increase year-over-year. This full year EPS outlook includes the $0.07 of unfavorable adjustments reported in the second quarter.

For earnings history and earnings-related data on Marriott Int'l. (MAR) click here.

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