Marriott Q1 2020 Earnings Report
Key Takeaways
Marriott International's first quarter 2020 results were severely affected by the COVID-19 pandemic. Worldwide RevPAR declined 22.5%. Reported EPS was $0.09, and adjusted EPS was $0.26. Net income totaled $31 million, and adjusted EBITDA was $442 million. The company added over 14,500 rooms globally and increased net liquidity to approximately $4.3 billion.
Worldwide RevPAR decreased by 22.5% due to the COVID-19 pandemic.
Reported diluted EPS was $0.09, while adjusted diluted EPS was $0.26, including impairment charges, bad debt expense, and guarantee reserves.
Net income was $31 million, and adjusted net income was $85 million, including impairment charges, bad debt expense, and guarantee reserves.
Adjusted EBITDA totaled $442 million, including $79 million of bad debt expense and guarantee reserves.
Marriott
Marriott
Marriott Revenue by Segment
Forward Guidance
Due to the numerous uncertainties associated with COVID-19, Marriott cannot presently estimate the financial impact of this unprecedented situation, which is highly dependent on the severity and duration of the pandemic and its impacts, but expects that COVID-19 will continue to be material to the company’s results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income