Marriott International Exceeds Analyst Expectations with Strong Fourth Quarter Results
**Marriott International** (NASDAQ: MAR) announced its financial results for the fourth quarter, surpassing analyst expectations. The company’s strong performance demonstrates its resilience in the face of industry challenges.
The company reported earnings per share (EPS) of **$3.57**, surpassing the estimated **$2.12**. Marriott’s revenue for the quarter reached **$6.09 billion**, slightly lower than the consensus estimate of **$6.2 billion**.
Looking ahead, Marriott expects EPS for the first quarter of 2024 to fall within the range of **$2.12 to $2.19**, slightly below the analyst consensus of **$2.30**. For the full year 2024, the company projects EPS to be in the range of **$9.18 to $9.52**, compared to the analyst consensus of **$9.69**.
Marriott’s stock price closed at **$248.84**, showing significant growth of **20.93%** in the last three months and an impressive **37.28%** increase over the past year.
In terms of earnings revisions, Marriott experienced **9 positive adjustments** and **4 negative adjustments** in the last 90 days, highlighting its adaptability in responding to market conditions.
Overall, Marriott International’s strong financial performance in the fourth quarter showcases its resilience and ability to navigate industry challenges. As the travel and hospitality sector continues to recover from the impact of the pandemic, Marriott remains well-positioned to capitalize on emerging opportunities.
Analyst comment
Positive news. The market is expected to respond positively to Marriott’s strong financial performance. Although EPS expectations for the first quarter and full year 2024 are slightly lower than analyst consensus, the company’s ability to adapt to changing market conditions and its impressive stock price growth indicate resilience and potential for capitalizing on emerging opportunities in the travel and hospitality sector.
