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Jun 30, 2025
Marriott Vacations Q2 2025 Earnings Report
Marriott Vacations Worldwide reported strong financial results for the second quarter of 2025, with increased net income and adjusted diluted earnings per share.
Key Takeaways
Marriott Vacations Worldwide delivered strong results in the second quarter of 2025, with consolidated contract sales of $445 million, net income of $69 million, and adjusted diluted EPS of $1.96. The company reiterated its full-year outlook, reflecting the resilience of its business model and continued prioritization of travel by leisure consumers.
Consolidated contract sales reached $445 million in Q2 2025, showing a slight year-over-year decline of less than 1%.
Net income attributable to common stockholders was $69 million, an 89% increase compared to the prior year.
Adjusted diluted earnings per share stood at $1.96, marking a 78% increase from the previous year.
Adjusted EBITDA for the quarter was $203 million, up 29% year-over-year, primarily driven by a sales reserve adjustment in the prior year.
Revenue by Segment
Forward Guidance
Marriott Vacations Worldwide reiterated its full-year 2025 guidance, expecting consolidated contract sales between $1.74 billion and $1.83 billion, Adjusted EBITDA between $750 million and $780 million, and Adjusted diluted EPS between $6.40 and $7.10.
Positive Outlook
- Reiterated full-year guidance for consolidated contract sales, Adjusted EBITDA, Adjusted net income, and Adjusted diluted EPS.
- Anticipated annualized Adjusted EBITDA benefits from the modernization program, ranging from $150 million to $200 million by the end of next year.
- Leisure consumers continue to prioritize travel, indicating sustained demand for timeshare products.
- Business is well-positioned exiting the first half of the year.
- Adjusted free cash flow guidance maintained between $270 million and $330 million.
Challenges Ahead
- Guidance excludes impacts from asset sales, foreign currency changes, restructuring costs, litigation charges, strategic modernization initiative costs, transaction and integration costs, and impairments.
- These excluded items may be significant and could materially impact GAAP reported results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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