earnings
confidence high
sentiment positive
materiality 0.75
Marriott Vacations Q4 contract sales $406M, above 2019; Adj. EBITDA $219M; 2022 outlook strong
MARRIOTT VACATIONS WORLDWIDE Corp
2021-FY EPS reported
$1.13
revenue$3,890,000,000
- Q4 contract sales $406M, +7% sequentially, exceeding 2019 levels. Net income $61M ($1.39 EPS); adj. EPS $2.38.
- Full year 2021: contract sales ~$1.4B; adj. EBITDA $657M; net income $49M ($1.13 EPS); adj. net income $190M.
- 2022 outlook: contract sales $1.675-1.775B, adj. EBITDA $860-920M (+35% at midpoint vs 2021).
- Repurchased 463k shares for $74M in Q4; paid $0.55/share dividend (~$23M), first since pandemic.
- Ended 2021 with ~$1.1B liquidity ($342M cash, $598M revolver capacity); completed $425M securitization at 1.64%.