Earnings ·
Marriott Vacations reports Q3 diluted EPS of $2.24, raises full-year adjusted EBITDA guidance to $820 million
VACMARRIOTT VACATIONS WORLDWIDE Corp
Marriott Vacations Worldwide reported third-quarter net income attributable to common stockholders of $82 million, or $2.24 per share, compared to a $2 million loss in the prior year period. Contract sales rose 29% to $565 million and VPG increased 30% to $4,822. The company raised its full-year adjusted EBITDA guidance midpoint to $820 million despite an estimated $16 million adverse impact from Hurricane Lowell. Additionally, the Board extended a $322 million share repurchase authorization through December 31, 2027. Marriott Vacations Worldwide operates vacation ownership resorts and exchange networks globally.