Hudson Securities Reports On Marriott 1Q11 Results

According to Hudson Securities, Marriott International MAR reported 1Q11 adjusted EPS of $0.26, which was a penny below the Street, and at the mid-point of company guidance. Hudson Securities said that 1Q11 RevPAR of 6.5% was towards the lower end of company guidance, but this didn't come as a surprise. “On March 28, MAR put out a release with details for the quarter in advance of an appearance at an investor conference. In the release, MAR had reiterated its EPS guidance and noted that 1Q11 RevPAR would come in at the low end of the company's 7-9% guidance. In the 1Q11, MAR spent $300 million repurchasing 7.8 million shares. MAR will hold a conference call this morning at 10:00 am EST. Rating and estimates under review pending today's call.” Marriott International closed yesterday at $35.28.