Marriott International Inc. (NASDAQ:MAR) on Wednesday posted stronger-than-expected first-quarter results.
Adjusted EPS came in at $2.72, beating analyst estimates of $2.55. Revenue increased 6% year over year to $6.65 billion, topping estimates of $6.59 billion.
CEO Anthony Capuano said, “We delivered excellent first quarter results, reflecting the strength of our brands, our unmatched global footprint, and the resilience of demand for travel.”
The company raised its full-year gross fee revenue outlook to $5.93 billion to $5.99 billion (up 9 to 10%) and adjusted EBITDA of $5.88 billion to $5.97 billion. Adjusted diluted EPS is expected between $11.38 and $11.63, versus estimates of $11.60.
For the second quarter, Marriott expects adjusted EPS of $2.99 to $3.06, compared with analyst estimates of $3.06. The outlook …
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