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Mar 31
Marriott Vacations Q1 2025 Earnings Report
Reported Financial Results for the First Quarter of 2025
Key Takeaways
Marriott Vacations Worldwide reported a solid first quarter in 2025, with revenues excluding cost reimbursements increasing by 3% and Adjusted EBITDA growing by 3%. Net income attributable to common stockholders increased by 20% to $56 million, while adjusted net income attributable to common stockholders decreased by 9% to $65 million. The company reiterated its full-year Adjusted EBITDA outlook.
Revenues excluding cost reimbursements increased by 3% year-over-year.
Net income attributable to common stockholders was $56 million, a 20% increase from the prior year.
Adjusted net income attributable to common stockholders was $65 million, a 9% decrease from the prior year.
Adjusted EBITDA was $192 million, a 3% increase from the prior year.
Marriott Vacations
Marriott Vacations
Forward Guidance
The company reiterated its full-year 2025 Adjusted EBITDA outlook and updated its guidance for contract sales, adjusted net income, and adjusted earnings per share.
Positive Outlook
- Reiterating full-year Adjusted EBITDA guidance signals confidence in profitability.
- Strong profitability performance in Q1 supports positive outlook.
- Progress on transformation initiatives is expected to contribute to future results.
- Guidance for adjusted free cash flow is positive, indicating strong cash generation.
- Expectations for contract sales remain robust.
Challenges Ahead
- Adjusted net income and adjusted EPS guidance for the full year show a potential decrease compared to the prior year's reported adjusted results.
- Guidance excludes potential impacts from various factors that could be significant.
- Interest expense, net is expected to be a significant cost.
- Cash taxes are expected to be a notable outflow.
- Inventory investment is anticipated.