Global hotel chain Marriott International (MAR) cut its full-year outlook in connection to declining revenue in the Chinese market. Marriott just missed estimates on its top and bottom lines, posting $6.25 billion in revenue and adjusted earnings per share of $2.26.
Marriott International, Inc. (NASDAQ:MAR ) Q3 2024 Earnings Conference Call November 4, 2024 8:30 AM ET Company Participants Jackie McConagha - SVP, IR Anthony Capuano - President & CEO Leeny Oberg - CFO & EVP, Development Conference Call Participants Stephen Grambling - Morgan Stanley Shaun Kelley - Bank of America Patrick Scholes - Truist Securities Richard Clarke - Bernstein Robin Farley - UBS Joe Greff - JPMorgan Brandt Montour - Barclays David Katz - Jefferies Dan Politzer - Wells Fargo Michael Bellisario - Baird Duane Pfennigwerth - Evercore ISI Smedes Rose - Citi Lizzie Dove - Goldman Sachs Chad Beynon - Macquarie Conor Cunningham - Melius Research Operator Good day, and welcome to today's Marriott International Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.
Marriott International MAR shares dropped Monday following third-quarter earnings that missed expectations. Despite a decline, the stock appears to have found support at a key price level, reflecting “market memory.
MAR's third-quarter top line reflects strong contributions from Base management and Franchise fees.
Marriott International Inc (NYSE:MAR) shares were trading lower on Monday after it reported third-quarter earnings that missed analyst estimates. The hotel giant lowered its annual profit forecast, citing weak domestic travel in China that overshadowed strong international and group demand, causing shares to drop around 2.4% in early trading.
Although the revenue and EPS for Marriott (MAR) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Marriott International (MAR) came out with quarterly earnings of $2.26 per share, missing the Zacks Consensus Estimate of $2.31 per share. This compares to earnings of $2.11 per share a year ago.
MAR's third-quarter 2024 results are likely to reflect increased global travel demand, particularly in international markets, leading to RevPAR growth.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Marriott (MAR), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended September 2024.
Marriott (MAR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Marriott International, Inc. (MAR) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, MAR's 50-day simple moving average crossed above its 200-day simple moving average, known as a "golden cross.
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