Marriott Shares Drop 5% Despite Q2 EPS Beat; Slashed FY24 Outlook Disappoints Investors
Portfolio Pulse from Nabaparna Bhattacharya
Marriott International (NASDAQ:MAR) shares dropped 5% despite beating Q2 EPS estimates. The company reported Q2 adjusted EPS of $2.50, surpassing the $2.47 estimate, but missed sales expectations with $6.439 billion versus $6.483 billion. Marriott's FY24 outlook disappointed investors, projecting full-year adjusted EPS between $9.23 and $9.40, below the $9.50 estimate.
July 31, 2024 | 2:21 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Marriott International (NASDAQ:MAR) shares dropped 5% after the company reported Q2 adjusted EPS of $2.50, beating estimates, but missed sales expectations. The FY24 outlook also disappointed investors, projecting full-year adjusted EPS below estimates.
Despite beating Q2 EPS estimates, Marriott's sales missed expectations and the FY24 outlook was lower than anticipated. This has led to a 5% drop in share price as investors react negatively to the revised projections.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100