Marriott Int'l Trims FY24 Outlook - Update

(RTTNews) - While reporting financial results for the third quarter on Monday, Marriott International, Inc. (MAR) trimmed its adjusted earnings and gross fee revenues guidance for the full-year 2024.

For fiscal 2024, the company now projects adjusted earnings in a range of $9.19 to $9.27 per share on gross fee revenues between $5.126 billion and $5.146 billion, with worldwide comparable systemwide constant currency RevPAR growth of 3 to 4 percent.

Previously, the company expected adjusted earnings in a range of $9.23 to $9.40 per share on gross fee revenues between $5.13 billion and $5.18 billion, with worldwide comparable systemwide constant currency RevPAR growth of 3 to 4 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.36 per share on revenues of $25.08 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects adjusted earnings in a range of $2.31 to $2.39 per share on gross fee revenues between $1.29 billion and $1.31 billion, with worldwide comparable systemwide constant currency RevPAR growth of 2 to 3 percent.

The Street is looking for earnings of $2.43 per share on revenues of $6.41 billion for the quarter.

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