Marriott Vacations Worldwide Corporation ( (VAC) ) has released its Q3 earnings. Here is a breakdown of the information Marriott Vacations Worldwide Corporation presented to its investors.
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Marriott Vacations Worldwide Corporation, a major player in the global vacation industry, specializes in vacation ownership, exchange, rental, and resort management services, maintaining strong affiliations with renowned brands like Marriott and Hyatt Hotels. The company recently reported its financial results for the third quarter of 2024, highlighting a 5% increase in consolidated vacation ownership contract sales, reaching $459 million, and a net income of $84 million attributable to common stockholders, translating to a fully diluted earnings per share of $2.12. Adjusted EBITDA also saw a significant rise, marking $198 million for the quarter. Key performance metrics showed varied results with a notable 37% increase in vacation ownership segment financial results and a 33% rise in segment adjusted EBITDA, attributed to better development, resort management, and rental profits. In contrast, the exchange and third-party management segment faced declines in revenue and adjusted EBITDA. Looking forward, Marriott Vacations Worldwide Corporation remains focused on enhancing customer experiences and is optimistic about realizing substantial cost efficiencies in the next two years, despite the dynamic macroeconomic environment.
