secwatch.observer — SEC 8-K summary
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Issuer:     MARRIOTT VACATIONS WORLDWIDE Corp (VAC)
CIK:        0001524358
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0001524358-24-000073
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marriott Vacations Q2 net income down 59% YoY; raises sales reserve by $70M; cuts outlook
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- Contract sales $449M, down 1% YoY; ex-Maui up 3%. Tours up 5% but VPGs declined, especially first-time buyer.
- Increased sales reserve by $70M for higher expected defaults, reducing net income by $45M.
- Net income $37M ($0.98 diluted EPS) vs $90M ($2.37) prior year; adjusted net income $42M ($1.10).
- Adjusted EBITDA $157M, down 29% YoY; full-year contract sales guidance revised lower for H2.
- Resort occupancy 90% in Q2; rentals exceeded expectations but loan delinquencies not improving.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1524358/000152435824000073/0001524358-24-000073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1524358/000152435824000073/vac-20240731.htm
  HTML page:      https://secwatch.observer/filing/0001524358-24-000073

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