Marriott Vacations Q1 2024 Earnings Report
Key Takeaways
Marriott Vacations Worldwide reported a decrease in net income and adjusted EBITDA for Q1 2024. While contract sales saw a slight decrease, excluding the impact of the Maui wildfires, they increased by 3%. The company reaffirms its full-year contract sales and Adjusted EBITDA guidance.
Consolidated Vacation Ownership contract sales decreased by 1% to $428 million, but increased 3% excluding Maui.
Net income attributable to common stockholders was $47 million, a decrease from $87 million in the prior year, with EPS at $1.22.
Adjusted EBITDA decreased by 8% to $187 million compared to the prior year.
The company repurchased 280 thousand shares for $24 million and paid dividends totaling $54 million.
Marriott Vacations
Marriott Vacations
Forward Guidance
The Company provides full year 2024 guidance as reflected in the chart below.