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Marriott Int'l Boosts FY23 Outlook - Update

RTTNews | 720 days ago

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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Singapore Stock Market Overdue For Consolidation On Tuesday

Singapore Stock Market Overdue For Consolidation On Tuesday

The Singapore stock market has moved higher in 11 straight sessions, improving more than 185 points or 4.7 percent along the way. The Straits Times Index now rests just beneath the 4,210-point plateau although it's likely to see profit taking on Tuesday.

RTTNews | 3 minutes ago

Mild Rebound Tipped For Malaysia Stock Market

Mild Rebound Tipped For Malaysia Stock Market

The Malaysia stock market on Monday snapped the two-day winning streak in which it had collected almost 15 points or 1 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,525-point plateau although it may bounce higher again on Tuesday.

RTTNews | 33 minutes ago

Rebound Anticipated For Japan Stock Market

Rebound Anticipated For Japan Stock Market

Ahead of Monday's holiday for Marine Day, the Japanese stock market had alternated between positive and negative finishes through the last four trading days since the end of the three-day losing streak in which it had dropped more than 360 points or 0.9 percent. The Nikkei 225 now sits just beneath the 39,820-point plateau although it's likely to tick higher again on Tuesday.

RTTNews | 48 minutes ago

KOSPI Likely To Remain Rangebound On Tuesday

KOSPI Likely To Remain Rangebound On Tuesday

The South Korea stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had climbed almost 40 points or 1.2 percent. The KOSPI sits just above the 3,210-point plateau and it's expected to see additional if mild upside on Tuesday.

RTTNews | 1h 3min ago

New Zealand Has NZ$142 Million Trade Surplus In June

New Zealand Has NZ$142 Million Trade Surplus In June

New Zealand posted a seasonally adjusted merchandise trade surplus of NZ$142 million in June, Statistics New Zealand said on Tuesday.

RTTNews | 1h 9min ago

RBA Minutes On Tap For Tuesday

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its July 8 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.

RTTNews | 2h 3min ago

South Korea Producer Prices Rise 0.1% In June

South Korea Producer Prices Rise 0.1% In June

Producer prices in South Korea were up 0.1 percent on month in June, the Bank of Korea said on Tuesday - after slipping 0.4 percent in May.

RTTNews | 2h 57min ago

U.S. Dollar Falls Against Majors

U.S. Dollar Falls Against Majors

The U.S. dollar weakened against its major counterparts in the New York session on Monday.

RTTNews | 3h 35min ago

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