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Marriott International's Second Quarter Earnings Report
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Marriott International (NYSE:MAR) announced its results for the second quarter on July 11, 2012. Marriott International operates and franchises hotels and related lodging facilities throughout the world.
Investors care about earnings because they drive stock prices. Strong earnings generally result in the stock price moving up and vice versa. SEE: Surprising Earnings Results
The Numbers: Marriott International's EPS fell in line with analyst expectations of 42 cents per share while revenue of $2.78 billion missed estimates of $2.84 billion. EPS rose 13.5% while revenue declined 6.6% from the same period last year. Revenue declined last quarter after shrinking 8.1% to $2.55 billion in the first quarter. Marriott International reported net income of $143 million during the second quarter. This is 5.9% higher than the year-ago quarter.
Management Quote: Arne M. Sorenson, president and chief executive officer of Marriott International, said, "In the second quarter, our business performed well in most markets around the world. In North America, strengthening group business, more travel by our special corporate customers, especially in the technology and consulting industries, and the impact of modest supply growth, drove our occupancy and room rates higher. In Europe, more travelers from the United States, Russia and China helped move REVPAR higher. In the Asia Pacific region, solid REVPAR growth resulted from strong economic growth and maturing new hotels."
Looking Ahead: Analysts appear increasingly optimistic about the company's results for the next quarter. The average estimate for the third quarter has moved up from 36 cents a share to 37 cents over the last 90 days. Increasing earnings estimate is a positive sign about the company and it typically leads a increase in the stock price. The average estimate for the fiscal year is $1.65 per share, a rise from $1.60 90 days ago.
Investors care about earnings because they drive stock prices. Strong earnings generally result in the stock price moving up and vice versa. SEE: Surprising Earnings Results
The Numbers: Marriott International's EPS fell in line with analyst expectations of 42 cents per share while revenue of $2.78 billion missed estimates of $2.84 billion. EPS rose 13.5% while revenue declined 6.6% from the same period last year. Revenue declined last quarter after shrinking 8.1% to $2.55 billion in the first quarter. Marriott International reported net income of $143 million during the second quarter. This is 5.9% higher than the year-ago quarter.
Looking Ahead: Analysts appear increasingly optimistic about the company's results for the next quarter. The average estimate for the third quarter has moved up from 36 cents a share to 37 cents over the last 90 days. Increasing earnings estimate is a positive sign about the company and it typically leads a increase in the stock price. The average estimate for the fiscal year is $1.65 per share, a rise from $1.60 90 days ago.
by
Investopedia Staff
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