Marriott Analysts Boost Their Forecasts After Q3 Earnings

Marriott International (NASDAQ:MAR) reported worse-than-expected third-quarter financial results and issued FY24 adjusted EPS guidance below estimates on Monday.

The company reported a third-quarter adjusted EPS of $2.26, missing the street view of $2.31. Quarterly sales of $6.26 billion marginally missed the analyst consensus of $6.27 billion.

CEO Anthony Capuano highlighted Marriott’s strong quarter, noting solid net room and fee growth, active development, and a 3% rise in global RevPAR. He added that third-quarter international RevPAR increased by 5.4%, driven by substantial growth in APEC and EMEA regions, steady domestic and cross-border demand, and strong ADR gains.

Marriott ...