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Mar 31, 2022
Marriott Vacations Q1 2022 Earnings Report
Reported strong first quarter with adjusted EBITDA totaling $188 million and contract sales of $394 million, both exceeding pre-pandemic levels.
Key Takeaways
Marriott Vacations Worldwide reported a strong start to 2022, with first quarter adjusted EBITDA totaling $188 million and contract sales of $394 million, both exceeding pre-pandemic levels. Net income attributable to common shareholders was $58 million, or $1.23 fully diluted earnings per share. The company returned approximately $168 million to shareholders through share repurchases and dividends.
Consolidated Vacation Ownership contract sales totaled $394 million.
Net income attributable to common shareholders was $58 million, or $1.23 fully diluted earnings per share.
Adjusted EBITDA was $188 million, 13% higher than 2019.
The company returned approximately $168 million to shareholders during the quarter.
Marriott Vacations
Marriott Vacations
Marriott Vacations Revenue by Segment
Revenue by Segment
Sale of vacation ownership products Revenue
CapyFin.comManagement and exchange Revenue
CapyFin.comRental Revenue
CapyFin.comFinancing Revenue
CapyFin.comCost reimbursements Revenue
CapyFin.com Forward Guidance
The Company is re-affirming guidance as reflected in the chart below for the full year 2022.
Positive Outlook
- Income before income taxes attributable to common shareholders $443 to $483 million
- Net income attributable to common shareholders $317 to $347 million
- Earnings per share - diluted $6.85 to $7.49
- Contract sales $1,675 to $1,775 million
- Adjusted EBITDA $860 to $920 million
Challenges Ahead
- Adjusted pretax net income $585 to $645 million
- Adjusted net income attributable to common shareholders $424 to $469 million
- Adjusted earnings per share - diluted $9.13 to $10.09
- Adjusted free cash flow $560 to $640 million
- Capital expenditures for property and equipment (excluding inventory) ($75) to ($85) million
Revenue & Expenses
Visualization of income flow from segment revenue to net income