Marriott Posts Mixed Q3 Earnings

Marriott International Inc MAR reported third-quarter FY22 sales growth of 35% year-on-year to $5.31 billion, missing the consensus of $5.34 billion.
Comparable systemwide constant dollar RevPAR increased 36.3% worldwide, 28.5% in the U.S. & Canada, and 66.1% in international markets, compared to Q3 FY21.
Comparable systemwide constant dollar RevPAR climbed 1.8% worldwide, 3.5% in the U.S. & Canada, but decreased 2.4% in international markets compared to Q3 FY19.
Total expenses rose 28% Y/Y to $4.4 billion. Adjusted EBITDA for the quarter was $985 million.
The operating margin for the quarter was 18%, with operating income surging 76% to $958 million.
Adjusted EPS of $1.69 beat the analyst consensus of $1.67.
The company added roughly 14,071 rooms globally during Q3.
In Q3, Marriott repurchased 6.2 million shares of common stock for $950 million. Year-to-date through October 31, the company has returned $1.9 billion to shareholders.
Outlook: Marriott sees Q4 Adjusted EPS of $1.77 - $1.84, versus the consensus of $1.76. It expects Q4 gross fee revenues of $1.07 billion - $1.09 billion.
The company expects FY22 Adjusted EPS of $6.51 - $6.58, against the consensus of $6.47. It sees FY22 gross fee revenues of $4.017 billion - $4.037 billion.
Price Action: MAR shares are trading higher by 0.01% at $153.00 in premarket on the last check Thursday.
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