Marriott Reports Q4 Earnings Above Street View

Marriott International Inc MAR reported fourth-quarter FY22 sales growth of 33.2% year-on-year to $5.92 billion, beating the consensus of $5.47 billion.
Comparable systemwide constant dollar RevPAR increased 28.8% worldwide, 23.6% in the U.S. & Canada, and 45.1% in international markets, compared to Q4 FY21.
Comparable systemwide constant dollar RevPAR climbed 4.6% worldwide, 5.2% in the U.S. & Canada, and 3.4% in international markets compared to Q4 FY19.
Total expenses rose 29.3% Y/Y to $4.9 billion. Adjusted EBITDA for the quarter was $1.09 billion versus $741 million a year ago.
Operating margin for the quarter was 16.8%, with operating income surging 56.8% to $996 million.
Adjusted EPS of $1.96 beat the analyst consensus of $1.89.
The company added more than 65,000 rooms globally during FY22.
In FY22, Marriott repurchased 16.8 million shares of common stock for $2.6 billion. The company returned $2.9 billion to shareholders in 2022.
Outlook: Marriott sees FY23 Adjusted EPS of $7.23 - $7.91 versus the consensus of $7.48. It expects FY23 gross fee revenues of $4.325 billion - $4.555 billion.
The company expects Q1 Adjusted EPS of $1.82 - $1.88, against the consensus of $1.66. It sees Q1 gross fee revenues of $1.045 billion - $1.065 billion.
Price Action: MAR shares are trading higher by 1.79% at $177.49 on the last check Tuesday.
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