Marriott Vacations Q4 2022 Earnings Report
Key Takeaways
Marriott Vacations Worldwide reported strong fourth-quarter results, with consolidated Vacation Ownership contract sales increasing by 12% and VPG at $4,088. Net income attributable to common shareholders was $88 million, or $2.08 fully diluted earnings per share. Adjusted EBITDA was $239 million. The company repurchased 1.2 million shares of its common stock for $173 million during the quarter.
Consolidated Vacation Ownership contract sales were $454 million, a 12% increase compared to the fourth quarter of 2021.
Net income attributable to common shareholders was $88 million, or $2.08 fully diluted earnings per share.
Adjusted net income attributable to common shareholders was $115 million, or $2.74 Adjusted fully diluted earnings per share.
Adjusted EBITDA was $239 million; excluding the impact of the Alignment, Adjusted EBITDA increased 6% compared to the prior year fourth quarter to $232 million.
Marriott Vacations
Marriott Vacations
Forward Guidance
The Company expects contract sales in 2023 to grow 5% to 9% compared to the prior year and for Net income attributable to common shareholders to be $405 million to $440 million, or $9.51 to $10.30 fully diluted earnings per share. Excluding the impact of the Alignment in 2022, the Company expects Adjusted EBITDA to grow 4% to 9% in 2023 and Adjusted earnings per share - diluted to increase 14% to 23%.