Marriott International, Inc. (MAR) reported that its second-quarter net income increased to $192 million, or $0.64 per share from $179 million or $0.57 per share, last year. Excluding items, adjusted net income totaled $213 million or $0.71 per share, for the quarter.
On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.67 for the quarter. Analysts' estimates typically exclude special items.
Total revenues increased to $3.48 billion from $3.26 billion, prior year. Analysts expected revenue of $3.53 billion for the quarter. RevPAR for worldwide comparable systemwide properties increased 5.8 percent (a 5.9 percent increase using actual dollars).
For the 2014 third quarter, the company expects comparable systemwide RevPAR on a constant dollar basis will increase 6 to 8 percent in North America, 4 to 6 percent outside North America and 5.5 to 7.5 percent worldwide. The company expects its third-quarter earnings per share in the range of $0.59 to $0.63. Analysts expect the company to report third-quarter earnings per share of $0.61.
The company expects full year 2014 comparable systemwide RevPAR on a constant dollar basis will increase 5 to 7 percent in North America, 4 to 6 percent outside North America and 5 to 7 percent worldwide. On April 29, 2014, the company forecasted worldwide and North American RevPAR growth of 4.5 to 6.5 percent for full year 2014. The company expects 2014 EPS in the range of $2.40 to $2.51. Analysts expect the company to report 2014 earnings per share of $2.47.
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