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Jun 30, 2020
Marriott Vacations Q2 2020 Earnings Report
Reported second quarter financial results and provided an update on business conditions in light of the COVID-19 pandemic.
Key Takeaways
Marriott Vacations Worldwide reported a challenging second quarter due to the COVID-19 pandemic, with significant declines in contract sales and revenues. However, resort occupancies began to recover in late May as restrictions eased, and the company expects positive cash flow in the second half of the year.
Consolidated Vacation Ownership contract sales totaled $30 million.
Net loss attributable to common shareholders was $70 million, or $1.68 loss per fully diluted share.
Adjusted EBITDA reflected a loss of $10 million.
Cash and cash equivalents totaled $566 million at the end of the quarter.
Marriott Vacations
Marriott Vacations
Forward Guidance
The company expects cash flow in the second half of the year to be positive.