Marriott Vacations Worldwide (VAC) Misses Q3 EPS by 38c, Revenues Miss; FY18 EPS Guidance Below Consensus

Marriott Vacations Worldwide (NYSE: VAC) reported Q3 EPS of $1.42, $0.38 worse than the analyst estimate of $1.80. Revenue for the quarter came in at $750 million versus the consensus estimate of $764.66 million.

"We are thrilled to have completed the acquisition of ILG on September 1st, and offer a warm welcome to all of ILG\'s over 11,000 associates around the world. Considering all of the activity we have had surrounding the closing, I couldn't be happier with our financial results in the third quarter, which included results from ILG for the month of September. Our Legacy-MVW performance remained very strong, with contract sales growth of 18 percent and adjusted EBITDA growth of $8 million," said Stephen P. Weisz, president and chief executive officer. "Having spent more time on the integration after the closing, we believe that this transaction could produce over $100 million in cost synergies. And, as one company, we are continuing the hard work of integrating ILG into our business and realizing these synergies as quickly as possible. I am truly excited about the growth opportunities this transformational acquisition will provide well into the future."

GUIDANCE:

Marriott Vacations Worldwide sees FY2018 EPS of $5.52-$5.75, versus the consensus of $6.92.

For earnings history and earnings-related data on Marriott Vacations Worldwide (VAC) click here.

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