- Marriott International Inc (NASDAQ:MAR) reported second-quarter FY22 sales growth of 69.5% year-on-year to $5.34 billion, beating the consensus of $4.92 billion.
- Comparable systemwide constant dollar RevPAR increased 70.6% worldwide, 66.1% in the U.S. & Canada, and 87.8% in international markets, compared to Q2 FY21.
- Comparable systemwide constant dollar RevPAR declined 2.9% worldwide, 14.1% in international markets, but increased 1.3% in the U.S. & Canada compared to Q2 FY19.
- Total expenses rose 64.7% Y/Y to $4.4 billion. Adjusted EBITDA for the quarter was $1 billion.
- The operating margin for the quarter was 17.7%, with operating income nearly doubling to $950 million.
- Adjusted EPS of $1.80 beat the analyst consensus of $1.54.
- The company added roughly 17,000 rooms globally during Q2.
- Marriott resumed share repurchases in Q2, repurchasing 1.9 million shares of common stock for $300 million. Year-to-date through July 29, the company has repurchased 2.9 million shares for $448 million.
- Outlook: Marriott sees Q3 comparable systemwide constant dollar RevPAR growth of Flat to +3% versus 3Q19. Adjusted EPS of $1.59 – $1.69, versus the consensus of $1.60.
- The company expects FY22 comparable systemwide constant dollar RevPAR decline of 6% – 3%. Adjusted EPS of $6.33 – $6.59, against the consensus of $5.97.
- Price Action: MAR shares are trading higher by 1.42% at $157.30 on the last check Tuesday.
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Carter’s 2024 Outlook: Expects Net Sales Of $2.95B-$3.0B Vs. $2.959B Consensus; Sees Adjusted EPS Growth Of Low To Mid-Single-Digit And Operating Cash Flow In Excess Of $250M
For fiscal year 2024, the Company projects approximately:
Net sales of $2.95 billion to $3.0 billion ($2.95 billion in fiscal 2023);
Comparable to mid-single-digit growth in adjusted
