Hotels & Tourism Company Shatters Expectations with Remarkable 35.74% Surge in EPS for the Year 2023

Marriott International Inc. Sets New Industry Standard with Impressive Financial Performance

Published / Modified Feb 13 2024
Goran Soko / CSIMarket.com

Marriott International Inc, a renowned Hotels & Tourism company, has recently released its financial results for the period ending December 31, 2023.
The company reported significant growth in both profit and income per share, as well as an increase in revenue.

In terms of profit per share, Marriott International Inc witnessed a staggering 35.74% increase, reaching $2.89 per share compared to $2.13 per share in the previous year.
Similarly, income per share surged by 15.29%, rising from $2.51 per share to $2.89 per share in the current reporting period.

The revenue for Marriott International Inc experienced a gentle growth of 2.904% to $6.10 billion from $5.92 billion in the comparable reporting period a year ago.
In comparison to the prior quarter, the revenue also saw a sequential surge of 2.817%, reaching $5.93 billion.
However, it is worth noting that the company's revenue growth fell behind its competitors in the Hotels & Tourism sector, with an average advance of 7.19% relative to the Q4 of 2022 revenue.

Marriott International Inc's net earnings for the financial interval closing December 31, 2023, increased by 26% from $673.000 million to $848.000 million, as reported a year ago.
Although the operating margin fell to 11.78% in the current financial period, the company's net margin actually improved to 13.91%. Operating earnings fell by -27.91% to $718 million, which led to a decline in Marriott International Inc's operating margin from 16.82% in Q4 of 2022 to 11.78% in the current period.

One noteworthy aspect is the build-up in accounts receivable, indicating rising demand.
The accounts receivables were valued at $2,712.0 million, which is higher than the preceding quarter.
This suggests that Marriott International Inc is experiencing an increase in customer bookings and transactions.

Looking at the full financial year for 2023, Marriott International Inc announced revenue of $23.71 billion and net earnings of $3.08 billion.
The company also highlighted that EPS soared by 40.61% to $10.18 per share from $7.24 in the previous financial period.
Additionally, revenue advanced by 14.15% from $20.77 billion a year prior.

In recent news, Marriott International Inc has declared that a dividend will be paid out on March 29, 2024, to all shareholders of record as of the date following the announcement.
This move demonstrates the company's commitment to providing substantial value to its shareholders and solidifying its position as a market leader in the highly competitive hospitality industry.

Despite the positive financial results, Marriott International Inc shares dropped by 2.12% in February, while enjoying a substantial improvement of 42.71% compared to the previous year.
The company's shares have reached its 52-week high, indicating the market's confidence in the company's performance.

Marriott International Inc has established a reputation for providing exceptional service to its guests worldwide and consistently delivering outstanding financial performance.
By declaring the dividend and showcasing its financial accomplishments, the company is assuring its shareholders and the broader market that it remains dedicated to creating long-term value and sustainable growth.

Overall, Marriott International Inc's financial results for the period ending December 31, 2023, display significant growth in profit and income per share, as well as an increase in revenue.
The company's commitment to its shareholders and commitment to excellent service positions it as a leading player in the competitive hospitality industry.

Marriott International Inc's Revenue Growth

Marriott International Inc's Capital Expenditures Growth

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