Hotel Brand Marriott Tightens Annual EPS Forecast; Records 12% Topline Growth In Q3
Portfolio Pulse from Lekha Gupta
Marriott International Inc (NASDAQ:MAR) reported Q3 FY23 sales growth of 12% Y/Y to $5.93 billion, beating the analyst consensus. Adjusted EPS of $2.11 was in line with the analyst consensus. Total expenses rose 11% Y/Y to $4.8 billion. Adjusted EBITDA for the quarter rose 16% Y/Y to $1.14 billion. The company expects Q4 Adjusted EPS of $2.04-$2.13, against the consensus of $2.19. It revised its FY23 Adjusted EPS outlook to $8.50-$8.59 from $8.36 - $8.65 versus the consensus of $8.63. MAR shares are trading lower by 2.13% at $184.78.
November 02, 2023 | 6:24 pm
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Marriott reported a 12% Y/Y sales growth in Q3 FY23, beating estimates. However, the company's Q4 Adjusted EPS forecast is lower than the consensus, which may have contributed to the 2.13% drop in its share price.
Marriott's Q3 sales growth and in-line EPS indicate a strong performance. However, the lower-than-expected Q4 EPS forecast could be a concern for investors, potentially leading to the drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100