Marriott International (NYSE: MAR) announced its results for the third quarter on October 5, 2011. Let's take a closer look at the company's industry, financials, and commentary and see what steps you can take next.
Earnings and Revenue:
Wall Street watched as Marriott International topped expectations with its latest EPS and revenue figures. The company reported adjusted net income of 29 cents/share versus the 27 cents/share estimate and revenues of $2.87 billion versus the $2.82 billion estimate. Diluted EPS for the quarter was a loss of 52 cents/share. Revenue climbed 8.5% from the same period last year.
The company's loss in the latest quarter comes after the company reported profits in the three prior quarters. Marriott International's revenue has grown during each of the past four quarters on a year-over-year basis.
Income:
For the year, Marriott International reported net income of $1.31/share. The company trumped analyst projections of $1.27 by 3.1%.
Official Comment:
J.W. Marriott, Jr., Marriott International chairman and chief executive officer, said, "We were very pleased with our performance in the third quarter. Despite continued economic uncertainty, revenue per available room growth was very strong and adjusted EPS rose 32 percent."
Industry:
Marriott International's industry, hotels and motels, is currently reporting price/earnings growth of 0.5%. The company's EPS compares unfavorably with its industry's estimated average of 49 cents.
What to Do Next:
Those are the latest numbers from Marriott International, including how the announcement compared to Wall Street estimates. Benzinga consistently provides earnings previews and recaps for major corporate events. Be sure to visit us next quarter for a full Marriott International preview.
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