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4-Traders Homepage  >  Equities  >  Nasdaq  >  Marriott International Inc    MAR

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Marriott International Inc : Post Earnings Coverage as Marriott's Revenue Soared 48%; Adjusted EPS Grew 38%

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05/24/2017 | 02:21pm CEST

Upcoming AWS Coverage on Hyatt Hotels Post-Earnings Results

LONDON, UK / ACCESSWIRE / May 24, 2017 / Active Wall St. announces its post-earnings coverage on Marriott International, Inc. (NASDAQ: MAR). The Company announced its first quarter fiscal 2017 financial results on May 08, 2017. The hotel conglomerate beat top- and bottom-line expectations. Register with us now for your free membership at:

http://www.activewallst.com/register/

One of Marriott International's competitors within the Lodging space, Hyatt Hotels Corp. (NYSE: H), reported on May 04, 2017, its Q1 2017 financial results. AWS will be initiating a research report on Hyatt Hotels in the coming days.

Today, AWS is promoting its earnings coverage on MAR; touching on H. Get our free coverage by signing up to:

http://www.activewallst.com/register/

Earnings Reviewed

For the three months ended March 31, 2017, Marriott reported revenue figures of $5.56 billion, up 48% compared to revenue of $3.77 billion in Q1 2016. The Company's revenue numbers topped analysts' consensus estimates of $4.91 billion.

For Q1 2017, Marriott's Base management and franchise fees totaled $629 million compared to $422 million in Q1 2016, driven by increase in these fees which was primarily attributable to the Starwood acquisition, higher RevPAR, and unit growth. The Company's reported quarter worldwide incentive management fees increased to $153 million compared to $101 million in the year ago same quarter.

Marriott's owned, leased, and other revenue, net of direct expenses, totaled $81 million in Q1 2017 compared to $38 million in Q1 2016. The Company's depreciation, amortization, and other expenses totaled $65 million in the reported quarter versus $31 million in the year ago comparable quarter. The y-o-y increase was primarily attributable to the Starwood acquisition, including the effect of purchase accounting.

For Q1 2017, Marriott's merger-related costs and charges totaled $51 million compared to $8 million in the year ago same quarter. Included in the merger-related costs and charges are $21 million of severance and retention costs, $23 million of integration costs and $7 million of transaction costs. The Company's interest expense, net, totaled $63 million in Q1 2017 compared to $41 million in Q1 2016. The increase largely reflects a higher commercial paper balance and related interest rate, higher Senior Note balances due to debt assumed in the Starwood acquisition, which the Company subsequently exchanged for new Marriott Senior Notes, and net higher interest on Senior Notes due to issuances and maturities.

For Q1 2017, Marriott's adjusted EBITDA totaled $750 million, a 64% increase, over Q1 2016 adjusted EBITDA of $458 million.

Marriott's reported net income totaled $365 million in Q1 2017, a 67% increase over Q1 2016 net income of $219 million. Reported diluted earnings per share (EPS) were $0.94 in the quarter, up 11% from diluted EPS of $0.85 in the year ago corresponding quarter. The Company's Q1 2017 adjusted net income totaled $395 million, up 36% over Q1 2016 combined net income of $290 million. The Company's adjusted diluted EPS in the reported quarter totaled $1.01, up 38% from combined diluted EPS of $0.73 in the year ago same quarter. Marriott's earnings numbers topped Wall Street's estimates of $0.90 per share.

Selected Performance Information

During Q1 2017, Marriott added 103 new properties, or a total of 17,183 rooms, to its worldwide lodging portfolio, including the Le Méridien Visconti Rome, the Fairfield by Marriott Kathmandu in Nepal, and the Sheraton Annaba Hotel in Algeria. During the reported quarter, twenty-two properties, or 4,376 rooms, exited the Company's system. At quarter-end, Marriott's lodging system encompassed 6,161 properties and timeshare resorts with nearly 1,203,000 rooms.

At the end of Q1 2017, Marriott's worldwide development pipeline totaled 2,536 properties with more than 430,000 rooms, including 917 properties with approximately 166,000 rooms under construction and 207 properties with roughly 36,000 rooms approved for development, but not yet subject to signed contracts.

In Q1 2017, Marriott's worldwide comparable systemwide constant dollar RevPAR increased 3.1% on a y-o-y basis. The Company's North American comparable systemwide constant dollar RevPAR increased 3.1%, while international comparable systemwide constant dollar RevPAR grew 3.2% during the same period.

Marriott's worldwide comparable Company-operated house profit margins increased 100 basis points in the reported quarter largely due to improved productivity and food and beverage margins. House profit margins for comparable Company-operated properties outside North America rose 90 basis points, while North American comparable Company-operated house profit margins increased 100 basis points in Q1 2017.

Balance Sheet

At quarter-end, Marriott's total debt was $8.47 billion and cash balances totaled $738 million compared to $8.51 billion in debt and $858 million of cash at year-end 2016.

Outlook

Marriott is forecasting Q2 2017 total fee revenue in the range of $820 million to $835 million. The Company is expecting FY17 fee revenue to be in the band of $3.23 billion and $3.21billion.

Stock Performance

On Tuesday, May 23, 2017, the stock closed the trading session at $105.49, climbing 1.22% from its previous closing price of $104.22. A total volume of 2.87 million shares have exchanged hands, which was higher than the 3-month average volume of 2.62 million shares. Marriott's stock price surged 12.80% in the last month, 20.31% in the past three months, and 36.75% in the previous six months. Furthermore, since the start of the year, shares of the Company have gained 27.59%. The stock is trading at a PE ratio of 38.08 and has a dividend yield of 1.25%.

Active Wall Street:

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AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

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SOURCE: Active Wall Street


© Accesswire 2017
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Financials ($)
Sales 2017 22 055 M
EBIT 2017 2 498 M
Net income 2017 1 534 M
Debt 2017 7 770 M
Yield 2017 1,22%
P/E ratio 2017 26,29
P/E ratio 2018 22,33
EV / Sales 2017 2,16x
EV / Sales 2018 2,11x
Capitalization 39 969 M
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Chart MARRIOTT INTERNATIONAL INC
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Marriott International Inc Technical Analysis Chart | MAR | US5719032022 | 4-Traders
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Technical analysis trends MARRIOTT INTERNAT...
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
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Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 104 $
Spread / Average Target -1,7%
Consensus details
EPS Revisions
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Managers
NameTitle
Arne M. Sorenson President, CEO, COO & Director
John Willard Marriott Executive Chairman
Tim Sheldon Global Chief Operations Officer
Kathleen Kelly Oberg Chief Financial Officer & Executive Vice President
Bruce Hoffmeister Global Chief Information Officer
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
MARRIOTT INTERNATIONAL..27.59%39 488
HILTON WORLDWIDE HOLDI..-19.74%21 453
ACCOR17.36%13 316
INTERCONTINENTAL HOTEL..17.15%10 648
WYNDHAM WORLDWIDE CORP..26.86%10 017
GENTING BERHAD--.--%8 610
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