Marriott International MAR just released its fourth quarter 2016 financial results, posting earnings of $0.85 per share and revenues of $5.46 billion. Currently, MAR is a Zacks Rank #3 (HOLD) and is up 0.06% to $90.00 per share in after-hours trading on Wednesday.
Beat earnings estimates . The company posted earnings of $0.85 per share, topping the Zacks Consensus Estimate of $0.83 per share, which excludes $0.23 from non-recurring items.
Beat revenue estimates . The company saw revenue figures of $5.46 billion, beating our consensus estimate of $4.89 billion.
Marriott's fourth quarter net income of $244 million was 21% higher year-over-year. The company's EBITDA totaled $756 million the fourth quarter, an 11% increase year-over-year.
Marriott repurchased 8 million shares of its common stocking totaling $573 million, which includes 4.3 million shares for $348 million in the fourth quarter alone. And in late September 2016, Marriott finalized its acquisition of Starwood Hotels & Resorts Worldwide.
"The company delivered record high fee revenues in 2016, boosted by significant unit growth," said President and CEO Arne M. Sorenson in a press release.
"We added 11 leading brands to our portfolio as a result of the acquisition and welcomed the 6,000th hotel to our system. Together with owners and franchisees, Marriott and Starwood added more than 68,000 rooms during the year and, despite a tightening credit market, drove our pipeline of hotels under development to more than 420,000 rooms."
Here's a graph that looks at Marriott's Price, Consensus and EPS Surprise.
Marriott International Price, Consensus and EPS Surprise
Marriott International, Inc. operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Ramada International brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club International, Horizons, The Ritz-Carlton Club and Marriott Grand Residence Club brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers.
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