Marriott International Inc’s (MAR) Q4 Revenue Rises 7.3% Y2Y

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Marriott International Inc (NASDAQ: MAR ) posted quarterly data Wednesday that came in ahead of what Wall Street projected.

Marriott International Inc (MAR) For its fourth quarter of fiscal 2017, the hotel operator announced diluted earnings of 54 cents per share, a 13% increase compared to the year-ago quarter. On an adjusted basis, the company earned $1.12 per share, marking a 32% gain compared to the year-ago quarter.

Marriott International suffered a setback in its earnings from the provisional charge coming from the U.S. Tax Cuts and Jobs Act of 2017. Analysts were calling for adjusted earnings of $1.01 per share.

Revenue surged 7.27% compared to the year-ago quarter to $5.9 billion from $5.5 billion. Analysts surveyed by  FactSet were calling for revenue of $5.7 billion from Marriott International.

For the fiscal year 2017, the company's earnings were $3.61 per share, a 37% increase from its fiscal 2016. On an adjusted basis, earnings were $4.36 per share, rising 32% year-over-year.

Marriott International added more than 76,000 rooms during its fiscal 2017, including about 11,000 rooms that were converted from competitor brands and roughly 30,000 rooms in international markets.

"In 2018, we anticipate our number of rooms will increase roughly 7 percent gross, while rooms deletions should total 1 to 1.5 percent during the year," said Arne M. Sorenson, president and CEO of Marriott International.

"Not including incremental asset sales, we expect to return roughly  $2.5 billion  to shareholders in share repurchases and dividends in 2018," she added.

MAR stock dipped late Wednesday despite the company's earnings beat, falling 2.7% after the bell.

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Referenced Symbols: MAR

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