Marriott (NASDAQ:MAR) earnings for the hotel company’s third quarter of 2019 have MAR stock taking a beating on Monday. The drop comes after reporting adjusted earnings per share of $1.47. That’s below Wall Street’s estimate of $1.49 for the quarter. Revenue of $5.28 billion is above analysts’ estimates of $5.13 billion, but couldn’t save MAR stock.
Here’s what else is worth noting about the Marriott earnings report for the third quarter of 2019.
- Adjusted EPS is down 13.53% from $1.70 in the third quarter of 2018.
- Revenue is up 4.56% YoY from $5.05 billion.
- Operating income of $607 million is a 1.85% increase over $596 million in the same period of the year prior.
- The Marriott earnings report also sees it bring in a net income of $387 million.
- That’s a 23.06% drop from its net income of $503 million in the third quarter of the previous year.
Arne Sorenson, President and CEO of Marriott, says this about the most recent MAR stock earnings.
“In the third quarter, our worldwide comparable systemwide constant dollar RevPAR increased 1.5 percent, consistent with our guidance, while our global RevPAR index rose 210 basis points. Our sales organization is hitting its stride.”
The Marriott earnings report also includes its outlook for the full year of 2019. This has the company expecting adjusted per-share earnings between $5.87 and $5.90. That’s leaves MAR wanting compared to Wall Street’s estimate of $6.02 for the year.
MAR stock was down 2.81% in after-hours trading on Monday. The stock closed out the day up 1.62%.
As of this writing, William White did not hold a position in any of the aforementioned securities.