Yahoo Finance Marriott Earnings: What To Look For From MAR
Global hospitality company Marriott (NASDAQ:MAR) will be reporting results tomorrow before market open. Here's what investors should know.
Marriott met analysts' revenue expectations last quarter, reporting revenues of $5.98 billion, up 6.4% year on year. It was a mixed quarter for the company, with in-line earnings guidance for the full year but a miss of analysts' earnings estimates.
Is Marriott a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Marriott's revenue to grow 6.6% year on year to $6.47 billion, slowing from the 13.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.48 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Marriott has missed Wall Street's revenue estimates twice over the last two years.
Looking at Marriott's peers in the hotels, resorts and cruise lines segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Royal Caribbean delivered year-on-year revenue growth of 16.7%, beating analysts' expectations by 1.6%, and Carnival reported revenues up 17.7%, topping estimates by 1.9%. Royal Caribbean traded down 6.7% following the results while Carnival was up 12%.
Read our full analysis of Royal Caribbean's results here and Carnival's results here.
There has been positive sentiment among investors in the hotels, resorts and cruise lines segment, with share prices up 11.2% on average over the last month. Marriott's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $250.3 (compared to the current share price of $238.45).
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