Marriott Int'l Boosts FY23 Outlook - Update

RTTNews | 833 days ago
Stocktwits
Marriott Int'l Boosts FY23 Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Tuesday, Marriott International, Inc. (MAR) raised its adjusted earnings, gross fee revenues and worldwide comparable systemwide constant currency RevPAR growth guidance for the full-year 2023.

For fiscal 2023, the company now projects adjusted earnings in a range of $8.36 to $8.65 per share on gross fee revenues between $4.73 billion and $4.82 billion, with worldwide comparable systemwide constant currency RevPAR growth of 12 to 14 percent. Previously, the company expected adjusted earnings in a range of $7.97 to $8.42 per share on gross fee revenues between $4.60 billion and $4.75 billion, with worldwide comparable systemwide constant currency RevPAR growth of 10 to 13 percent.

On average, 19 analysts polled by Thomson Reuters expect the company to report earnings of $8.36 per share on revenues of $23.58 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company expects adjusted earnings in a range of $2.00 to $2.09 per share on gross fee revenues between $1.185 billion and $1.210 billion, with worldwide comparable systemwide constant currency RevPAR growth of 6 to 8 percent.

The Street is looking for earnings of $2.03 per share on revenues of $5.82 billion for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: MAR
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European Economic News Preview: Germany Final Inflation Data Due

European Economic News Preview: Germany Final Inflation Data Due

Final inflation from Germany and industrial production from Italy are due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is scheduled to release Germany's final inflation data for October. The flash estimate showed that consumer price inflation is forecast to ease to 2.3 percent from 2.4 percent in September.
RTTNews | 2h 25min ago
Sensex, Nifty Extend Gains As IT Stocks Surge

Sensex, Nifty Extend Gains As IT Stocks Surge

Indian shares opened on a buoyant note Wednesday, with IT stocks surging amid positive global cues and on growing optimism over a potential trade deal with the United States.
RTTNews | 3h 23min ago
Australian Market Extends Early Gains In Mid-market

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending its early gains in mid-market moves on Wednesday, reversing the losses in the previous session, with the benchmark S&P/ASX 200 staying well above the 8,800 level, following the mixed cues from Wall Street overnight, with gains in mining and energy stocks partially offset by weakness in technology stocks.
RTTNews | 4h 49min ago
Asian Markets A Sea Of Green

Asian Markets A Sea Of Green

Asian stock markets are a sea of green on Wednesday, following the mixed cues from Wall Street overnight, amid optimism about an end to the record-setting U.S. government shutdown of 42 days and expectations of the US Fed cutting interest-rate next month. Traders largely shrugged off worries about the economic impact of the shutdown. Asian markets closed mixed on Tuesday.
RTTNews | 4h 56min ago
Sensex, Nifty Seen Higher At Open

Sensex, Nifty Seen Higher At Open

Indian shares are seen opening a tad higher on Wednesday, tracking mostly positive cues from global markets.
RTTNews | 5h 28min ago
Mild Rebound Anticipated For Thai Stock Market

Mild Rebound Anticipated For Thai Stock Market

The Thai stock market has alternated between positive and negative finishes through the last four trading days since the end of the five-day losing streak in which it had dropped more than 15 points or 1.2 percent. The Stock Exchange of Thailand now sits just above the 1,300-point plateau although it's expected to move back to the upside again on Wednesday.
RTTNews | 6h 3min ago
Indonesia Shares Poised To End Losing Streak

Indonesia Shares Poised To End Losing Streak

The Indonesia stock market has moved lower in back-to-back sessions, slumping almost 30 points or 0.4 percent along the way. The Jakarta Composite Index now sits just above the 8,360-point plateau although it's expected to find traction on Wednesday.
RTTNews | 6h 33min ago
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