Welcome to our dedicated page for Marriott Vacations Worldwide C news (Ticker: VAC), a resource for investors and traders seeking the latest updates and insights on Marriott Vacations Worldwide C stock.
Marriott Vacations Worldwide Corporation operates a global vacation ownership, exchange, rental, and resort and property management business. Company news commonly covers Vacation Ownership performance, contract sales, tours, volume per guest, exchange activity through Interval International, and guidance for operating results. Updates also address restructuring, modernization costs, impairment charges, and other items that affect reported and adjusted results.
Recurring developments include quarterly earnings releases, dividends, securitizations backed by vacation ownership loans, and executive leadership changes. The company’s disclosures also reference its portfolio of vacation ownership resorts, owner families, membership programs, and long-term brand relationships used in the development, sales, and marketing of vacation ownership products and services.
Marriott Vacations Worldwide (NYSE: VAC) reported mixed Q2 2024 results. Consolidated Vacation Ownership contract sales declined 1% to $449 million, but increased 3% excluding Maui. The company recorded a $70 million increase in sales reserve due to higher expected defaults. Net income attributable to common stockholders was $37 million, down from $90 million in Q2 2023. Adjusted EBITDA decreased 29% to $157 million.
Key highlights include:
- Fully diluted EPS: $0.98
- Adjusted fully diluted EPS: $1.10
- Resort occupancy: 90%
- Tours increased 5%
- Owner VPG flat, first-time buyer VPG declined
The company updated its full-year outlook, adjusting contract sales guidance for H2 2024 due to slower Maui recovery and declining first-time buyer VPGs.
Marriott Vacations Worldwide (NYSE: VAC) has announced its schedule for the second quarter 2024 earnings release and conference call. The financial results will be reported after market close on Wednesday, July 31. A conference call to discuss the results is scheduled for Thursday, August 1, at 8:30 a.m. ET.
Participants can join the call by dialing (877) 407-8289 or (201) 689-8341 for international callers. A live webcast will be available on the company's Investor Relations website. An audio replay of the call will be accessible from August 1 at 10 a.m. ET until August 31 at 10 p.m. ET via the website or by calling (877) 660-6853 (or (201) 612-7415 for international callers) with the conference ID 13747313.
Marriott Vacations Worldwide (NYSE: VAC) will participate in the Morgan Stanley 2nd Annual Travel & Leisure Conference on June 4, 2024, with CFO Jason Marino featured in a fireside chat at 2:25 p.m. ET. The company reaffirmed its full-year contract sales guidance of $1.88 billion to $1.93 billion, reflecting a 6% to 9% increase year-over-year. Additionally, second-quarter contract sales are expected to rise by 2% to 4%, despite a four-point headwind from the Maui wildfires. A live webcast will be available on the company's Investor Relations website and remain accessible for 60 days.
Marriott Vacations Worldwide (NYSE: VAC) declared a quarterly cash dividend of $0.76 per share of common stock. The dividend will be paid on or around June 6, 2024, to stockholders of record as of May 23, 2024.
Marriott Vacations Worldwide reported its first quarter 2024 financial results, showing a 1% decrease in consolidated Vacation Ownership contract sales to $428 million compared to the first quarter of 2023. The net income attributable to common stockholders was $47 million, a decline from $87 million in the prior year. Adjusted EBITDA decreased by 8% to $187 million. Despite challenges due to the impact of the Maui wildfires, the company remains optimistic about the future and reaffirms its full-year contract sales and Adjusted EBITDA guidance.
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