Marriott International Inc (НАСДАК: МАР) is in the green this morning after the lodging company reported its financial results for the first quarter that handily topped Wall Street expectations.
What Marriott Q1 earnings report tells us
- Нето приход отпечатен на 377 милиони долари, што значи 1.14 долари по акција.
- In Q1 last year, it had posted $11 million in net loss or 3 cents a share.
- Adjusted for one-time items, EPS came in at $1.25 in the recent quarter.
- Приходите се зголемија за 81.3% на 4.20 милијарди долари, според соопштение за печатот за заработка.
- Consensus was for 90 cents of adjusted EPS on $4.17 billion in revenue.
- RevPAR nearly doubled as occupancy went up 64% globally in March.
- Average daily rate topped pre-pandemic levels by 27% in fiscal Q1.
- Added 11,800 rooms globally (roughly) during the first quarter.
Marriott benefitted from the post COVID pent-up demand in its recent financial quarter but the Russia-Ukraine conflict and China lockdowns continue to be a headwind. The stock has recovered roughly 20% since early March.
Highlights from CEO Capuano’s interview on CNBC
According to CEO Tony Capuano, business will remain strong in the coming months despite inflationary pressures. This morning on „Squawk на улица“ на CNBC, тој рече:
We see extraordinarily strong leisure demand, but what gives us continued optimism is the recovery we’re seeing also in groups and business transient, which has been the slowest to recover. Based on our forward booking data, we think summer will be gangbusters.
Also on Wednesday, Marriott declared a cash dividend of 30 cents per share and said it will likely also resume share buybacks later this year. Commenting on the pricing power, the chief executive said:
We think higher prices are quite sticky. After 9/11 and the great recession, it took four to five years for pricing power to really recover. So, it’s remarkable that two years after the pandemic, pricing is meaningfully ahead of 2019 levels.
Пост Извршниот директор на Мериот за резултатите од првиот квартал: „Летото ќе биде гангбастер“ се појави прв на Инвезирај.
Source: https://invezz.com/news/2022/05/04/marriott-ceo-on-q1-results-summer-is-going-to-be-gangbusters/