Marriott Vacations Q2 2021 Earnings Report
Key Takeaways
Marriott Vacations Worldwide reported strong second quarter 2021 financial results driven by increased demand for vacation ownership products. Contract sales grew 60% sequentially to $362 million, and Adjusted EBITDA more than doubled compared to the first quarter.
Consolidated Vacation Ownership contract sales totaled $362 million, with VPG 30% higher than the second quarter of 2019.
Net income attributable to common shareholders was $6 million, or $0.15 fully diluted earnings per share.
Adjusted net income attributable to common shareholders was $37 million and adjusted fully diluted earnings per share was $0.85.
Adjusted EBITDA more than doubled on a sequential basis to $164 million.
Marriott Vacations
Marriott Vacations
Forward Guidance
The Company projects contract sales of $380 million to $410 million in the third quarter of 2021, a sequential increase of 9% at the mid-point.