Free Research Report as Marriott’s Quarterly Revenues Grew 8% and Adjusted EPS Surged 32%

Stock Monitor: Park Hotels & Resorts Post Earnings Reporting

LONDON, UK / ACCESSWIRE / March 22, 2018 / Active-Investors.com has just released a free earnings report on Marriott International, Inc. (NASDAQ: MAR) (“Marriott”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MAR. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 14, 2018. The world’s largest hotel chain surpassed top- and bottom-line expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Park Hotels & Resorts Inc. (NYSE: PK), which also belongs to the Services sector as the Company Marriott Intl. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Marriott International most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=MAR

Earnings Highlights and Summary

For Q4 2017, Marriott’s revenues totaled $5.88 billion, reflecting a growth of 8% compared to $5.46 billion in Q4 2016. The Company’s revenue numbers topped analysts’ estimates of $5.70 billion.

For the full year FY17, Marriott’s revenues totaled $22.89 million, up 34% compared to $17.07 billion in FY16.

During Q4 2017, Marriott’s base management and franchise fees rose 11% to $695 million compared to $624 million in Q4 2016. The y-o-y growth was primarily attributable to a higher revenue per available room (RevPAR), unit growth, higher branding and relicensing fees, and higher other property-level sales.

For Q4 2017, Marriott’s worldwide incentive management fees increased 14% to $170 million compared to $149 million in Q4 2016, largely due to higher net house profit at full-service properties in North America and the Asia/Pacific region. The Company’s owned, leased, and other revenues totaled $95 million in the reported quarter compared to $109 million in the year ago same quarter; the decline reflecting the negative impact from sold hotels.

Marriott’s general, administrative, and other expenses totaled $259 million in Q4 2017 versus $234 million in the year ago comparable quarter, primarily attributed to a higher incentive compensation and $7 million of litigation reserves. The Company’s general, administrative, and other expenses in Q4 2016 benefited from a favorable legal settlement of $8 million.

For Q4 2017, Marriott’s provision for income taxes totaled $978 million, with an effective tax rate of 83.0%, compared to $139 million, with an effective tax rate of 36.3%, in Q4 2016. With the recent enactment of the Tax Act, the Company’s tax provision included a charge of $567 million in the reported quarter.

Marriott reported a net income of $201 million, or $0.54 per diluted share, in Q4 2017 compared to a net income of $244 million, or $0.62 per diluted share, in Q4 2016.

For Q4 2017, Marriott’s adjusted net income totaled $415 million, or $1.12 per diluted share, up 24% and 32%, respectively, compared to an adjusted net income of $334 million, or $0.85 per diluted share, in Q4 2016. The Company’s adjusted net income for Q4 2017 and Q4 2016 excluded $47 million after-tax and 90 million after-tax of merger-related adjustments, respectively. Marriott’s adjusted net income for Q4 2017 also excluded the after-tax Avendra gain of $400 million and the provisional charge resulting from the Tax Act of $567 million. Marriott’s earnings numbers beat Wall Street’s estimates of $1.01 per share.

For FY17, Marriott reported a net income of $1.37 billion, or $3.61 per diluted share, compared to $780 million, or $2.64 per diluted share, in FY16. On an adjusted basis, the Company’s earnings totaled $1.66 billion, or $4.36 per diluted share, in FY17.

Selected Performance Details

During Q4 2017, Marriott’s worldwide comparable systemwide constant dollar RevPAR increased 4.6% on a y-o-y basis. The Company’s North American comparable systemwide constant dollar RevPAR increased 3.9% on a y-o-y basis, while its International comparable systemwide constant dollar RevPAR increased 6.2% compared to the year ago corresponding period.

During Q4 2017, Marriott added 132 new properties (21,061 rooms) to its worldwide lodging portfolio. The Company’s system saw an exit of 13 properties (2,786 rooms) during the reported quarter. At year-end, Marriott’s lodging system encompassed 6,520 properties and timeshare resorts, with nearly 1,258,000 rooms.

At year-end 2017, Marriott’s worldwide development pipeline totaled 2,708 properties with more than 460,000 rooms, including 1,136 properties with approximately 201,000 rooms under construction, and 165 properties with nearly 34,000 rooms approved for development, but not yet subject to signed contracts.

Marriott added 473 new properties (76,589 rooms) to its worldwide lodging portfolio during FY17, while 69 properties (12,952 rooms) exited the system during the reported fiscal year.

Balance Sheet

At year-end 2017, Marriott’s total debt was $8.24 billion and cash balances totaled $383 million compared to $8.51 billion in debt and $858 million of cash at year-end 2016.

Outlook

For FY18, Marriott is forecasting the number of rooms to increase approximately 7% gross, while rooms deletions are expected to be around 1% to 1.5%. Marriott is estimating global RevPAR to increase by 1% to 3%. The Company is predicting to return roughly $2.5 billion to shareholders in share repurchases and dividends in FY18.

Stock Performance Snapshot

March 21, 2018 – At Wednesday’s closing bell, Marriott International’s stock marginally declined 0.09%, ending the trading session at $140.42.

Volume traded for the day: 1.23 million shares.

Stock performance in the last three-month – up 5.31%; previous six-month period – up 30.81%; past twelve-month period – up 57.60%; and year-to-date – up 3.46%

After yesterday’s close, Marriott International’s market cap was at $51.44 billion.

Price to Earnings (P/E) ratio was at 27.08.

The stock has a dividend yield of 0.94%.

The stock is part of the Services sector, categorized under the Lodging industry.

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