Marriott Shares Gain On Q1 Earnings Beat, Resumed Dividend

Marriott International Inc MAR reported first-quarter FY22 sales growth of 81.3% year-on-year, to $4.2 billion, beating the consensus of $4.11 billion.
Comparable systemwide constant dollar RevPAR increased 96.5% worldwide, 99.1% in the U.S. & Canada, and 88.5% in international markets, compared to Q1 FY21.
Comparable systemwide constant dollar RevPAR declined 19.4% worldwide, 14.5% in the U.S. & Canada, and 31.7% in international markets, compared to Q1 FY19.
Total expenses rose 63.1% Y/Y to $3.6 billion. Adjusted EBITDA for the quarter was $759 million.
The operating margin for the quarter was 13.3%, with an operating income of $558 million.
Adjusted EPS of $1.25 beat the analyst consensus of $0.90.
The company held $1 billion in cash and equivalents as of March 31, 2022.
Marriott resumes cash dividends, with the board declaring a $0.30 per share dividend payable on June 30, 2022, to shareholders of record as of May 16, 2022.
Price Action: MAR shares are trading higher by 1.38% at $175.43 on the last check Wednesday.

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