Adjusted EPS was $2.50, slightly exceeding management's guidance. Worldwide Comparable RevPAR (Revenue per Available Room) increased by 4.9% in Q2, meeting the higher end of guidance.
Marriott International's (MAR) second-quarter results Wednesday came with disappointing revenue per available room (revPAR) guidance, sending the huge hotel company's shares sharply lower.
Marriott's (MAR) second-quarter 2024 results reflect continuous growth in global travel demand aiding the RevPAR growth. Yet, increased expenses marred prospects to some extent.
Marriott International, Inc. (NASDAQ:MAR ) Q2 2024 Earnings Call Transcript July 31, 2024 8:30 AM ET Company Participants Jackie McConagha - SVP, IR Tony Capuano - President and CEO Leeny Oberg - CFO and EVP, Development Conference Call Participants Stephen Grambling - Morgan Stanley Shaun Kelley - Bank of America Smedes Rose - Citi Joe Greff - JPMorgan David Katz - Jefferies Brandt Montour - Barclays Dan Politzer - Wells Fargo Bill Crow - Raymond James Ari Klein - BMO Capital Markets Robin Farley - UBS Patrick Scholes - Truist Securities Michael Bellisario - Baird Operator Good day everyone and welcome to today's Marriott International Q2 2024 Earnings. At this time, all participants are in a listen-only mode.
Although the revenue and EPS for Marriott (MAR) give a sense of how its business performed in the quarter ended June 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 $2.50 per share, beating the Zacks Consensus Estimate of $2.49 per share. This compares to earnings of $2.26 per share a year ago.
Marriott's (MAR) second-quarter 2024 results are likely to reflect increased global travel demand, especially in international markets, thus portraying RevPAR growth. Also, the top-line leverage and efficient operating model are likely to have aided the bottom line.
Get a deeper insight into the potential performance of Marriott (MAR) for the quarter ended June 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
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.
Cheaper airfares and strong labor market support travel demand and high occupancy trends in international hotels. Shares of Marriott International have returned nearly 40% since May 2023, but I now view the stock as fully valued. Its Q2 earnings report is expected to show solid international growth, with potential for increased shareholder-friendly moves.
Why investors should use the Zacks Earnings ESP tool to help find stocks that are poised to top quarterly earnings estimates.
Marriott's (MAR) focus on digital transformation, member engagement and strategic development positions it for sustained growth. However, increased expenses are a concern.