- Marriott International Inc (NASDAQ:MAR) reported first-quarter FY22 sales growth of 81.3% year-on-year, to $4.2 billion, beating the consensus of $4.11 billion.
- Comparable systemwide constant dollar RevPAR increased 96.5% worldwide, 99.1% in the U.S. & Canada, and 88.5% in international markets, compared to Q1 FY21.
- Comparable systemwide constant dollar RevPAR declined 19.4% worldwide, 14.5% in the U.S. & Canada, and 31.7% in international markets, compared to Q1 FY19.
- Total expenses rose 63.1% Y/Y to $3.6 billion. Adjusted EBITDA for the quarter was $759 million.
- The operating margin for the quarter was 13.3%, with an operating income of $558 million.
- Adjusted EPS of $1.25 beat the analyst consensus of $0.90.
- The company held $1 billion in cash and equivalents as of March 31, 2022.
- Marriott resumes cash dividends, with the board declaring a $0.30 per share dividend payable on June 30, 2022, to shareholders of record as of May 16, 2022.
- Price Action: MAR shares are trading higher by 1.38% at $175.43 on the last check Wednesday.
