Marriott (MAR) Tops Q2 EPS by 6c

Marriott (NASDAQ: MAR) reported Q2 EPS of $0.87, $0.06 better than the analyst estimate of $0.81. Revenue for the quarter came in at $3.69 billion versus the consensus estimate of $3.73 billion.

Other highlights:

• During the second quarter, the company recorded a $41 million pretax gain on the redemption of a preferred equity ownership interest and $22 million of pretax losses on the expected disposition of real estate.
• North American comparable systemwide constant dollar RevPAR rose 5.4 percent in the second quarter;
• On a constant dollar basis, worldwide comparable systemwide RevPAR rose 5.3 percent in the second quarter;
• Marriott repurchased 9.1 million shares of the company's common stock for $714 million during the second quarter. Year-to-date through July 29, the company repurchased 17.3 million shares for $1.35 billion;
• The company added over 20,000 rooms during the second quarter, including 9,600 rooms associated with the Delta transaction and nearly 3,800 other rooms in markets outside the U.S.;
• At the end of the second quarter, the company's worldwide development pipeline increased to more than 250,000 rooms, including approximately 35,000 rooms approved, but not yet subject to signed contracts;
• The company's adjusted operating income margin increased to a record 50 percent compared to 47 percent in the year-ago quarter;
• Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $457 million in the quarter, a 12 percent increase over second quarter 2014 adjusted EBITDA.

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

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