Why Marriott (MAR) Shares Are Gaining Today - Marriott International (NASDAQ:MAR)

Marriott International Inc MAR reported first-quarter FY23 sales growth of 34% year-on-year to $5.62 billion, beating the consensus of $5.41 billion.
Comparable systemwide constant dollar RevPAR increased 34.5% worldwide, 25.6% in the U.S. & Canada, and 63.1% in international markets, compared to Q1 FY22.
Total expenses rose 28% Y/Y to $4.7 billion. Adjusted EBITDA for the quarter was $1.098 billion versus $759 million a year ago.
Operating margin for the quarter expanded Y/Y from 13% to 17%, with operating income surging 70.4% to $951 million.
Adjusted EPS of $2.09 beat the analyst consensus of $1.84.
The company added about 11,000 rooms globally during Q1.
In Q1, Marriott repurchased 6.8 million shares of common stock for $1.1 billion. The company returned $1.5 billion to shareholders year-to-date.
"The lifting of travel restrictions throughout Asia Pacific, particularly in Greater China, significantly boosted first quarter demand in the region," said President and CEO Anthony Capuano.
Outlook: Marriott raises FY23 Adjusted EPS guidance from $7.23-$7.91 to $7.97-$8.42 versus the consensus of $7.74. It now expects FY23 gross fee revenues of $4.6 billion - $4.75 billion.
The company expects Q2 Adjusted EPS of $2.09 - $2.15, against the consensus of $2.03. It sees Q2 gross fee revenues of $1.205 billion - $1.225 billion.
Price Action: MAR shares are trading higher by 2.26% at $173.99 in premarket on the last check Tuesday.

Momentum53.67

Growth46.83

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Why Marriott Shares Are Gaining Today