Why Marriott International Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
Marriott International (NASDAQ:MAR) reported Q4 adjusted earnings per share of $3.57, surpassing analyst expectations of $2.12, but missed revenue forecasts with $6.095 billion against a consensus of $6.20 billion. The company saw a worldwide RevPAR increase of 7.2% and added nearly 81,300 rooms globally in 2023. Despite these achievements, MAR shares fell by 5.60% to $234.90, likely due to the revenue miss and a cautious outlook for FY24, projecting adjusted EPS below analyst estimates.
February 13, 2024 | 4:55 pm
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Marriott International reported higher-than-expected Q4 earnings but missed revenue forecasts and provided a cautious FY24 outlook, leading to a 5.60% drop in shares.
Despite beating earnings estimates, Marriott's revenue miss and lower-than-expected FY24 EPS guidance likely contributed to negative investor sentiment, resulting in a significant drop in share price.
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