Marriott (MAR) Tops Q1 EPS by 3c

Marriott (NASDAQ: MAR) reported Q1 EPS of $0.87, $0.03 better than the analyst estimate of $0.84. Revenue for the quarter came in at $3.77 billion versus the consensus estimate of $3.68 billion.

Highlights:

• First quarter adjusted diluted EPS totaled $0.87, a 19 percent increase over prior year results;
• North American comparable systemwide constant dollar RevPAR rose 2.4 percent in the first quarter;
• On a constant dollar basis, worldwide comparable systemwide RevPAR rose 2.6 percent in the first quarter;
• The company's adjusted operating income margin increased to 52 percent compared to 48 percent in the year-ago quarter;
• At the end of the first quarter, the company's worldwide development pipeline increased to more than 275,000 rooms, including approximately 29,000 rooms approved, but not yet subject to signed contracts;
• More than 10,000 rooms were added during the first quarter, including 1,500 rooms converted from competitor brands and over 3,300 rooms in international markets;
• Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $458 million in the quarter, a 7 percent increase over first quarter 2015 adjusted EBITDA;
• Acquisition of Starwood Hotels & Resorts Worldwide is on track to close mid-2016.

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

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