NYSE$VAC

Marriott Vacations Worldwide Corp · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Reported financial results for the second quarter of 2021.

Marriott Vacations Worldwide reported strong second quarter 2021 financial results driven by increased demand for vacation ownership products. Contract sales grew 60% sequentially to $362 million, and Adjusted EBITDA more than doubled compared to the first quarter.

  • Consolidated Vacation Ownership contract sales totaled $362 million, with VPG 30% higher than the second quarter of 2019.
  • Net income attributable to common shareholders was $6 million, or $0.15 fully diluted earnings per share.
  • Adjusted net income attributable to common shareholders was $37 million and adjusted fully diluted earnings per share was $0.85.
  • Adjusted EBITDA more than doubled on a sequential basis to $164 million.

Headline financials

Total Revenue

$979M

Previous: $480M+104.0%
EPS (adj)

$0.85

Previous: -$1.76+148.3%
VPG

$4.3K

No prior period
Capital Expenditures

-$11M

Previous: -$34M+67.6%
Free Cash Flow

-$5M

Previous: -$104M+95.2%
Net Income

$6M

Previous: -$70M+108.6%
Operating Income

$655M

Previous: $332M+97.3%
Gross Profit

$979M

Previous: $475M+106.1%
Cash & Equivalents

$1.3B

Previous: $566M+129.7%
Total Assets

$10.4B

Previous: $9.12B+14.2%
Stock-Based Comp

$14M

Previous: $9M+55.6%

Revenue & EPS history

Marriott Vacations · Revenue · Quarterly

$979M

Q2 2021+104%vs Q2 2020
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

Marriott Vacations · $979M total across 5 segments · Q2 2021

  • Sale of VO Products
    $296M+458.5%
  • Cost Reimbursements
    $274M+41.2%
  • Management and Exchange
    $220M+51.7%
  • Rental
    $121M+572.2%
  • Financing
    $68M-2.9%

Forward guidance

The Company projects contract sales of $380 million to $410 million in the third quarter of 2021, a sequential increase of 9% at the mid-point.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

-0.1%

Avg return

Earnings day

-1.5%

Avg return

5 days after

-0.8%

Avg return

30 days after

51%

32 / 63 earnings

Positive

+21.0%

Q3 2024

Best reaction

-26.8%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+5.1%+10.0%+23.7%
Q3 2025-26.8%-30.5%-18.1%
Q2 2025-2.0%-4.7%+6.0%
Q1 2025+10.5%+24.3%+13.5%
Q4 2024-9.3%-16.8%-22.5%
Q4 2025+0.1%-14.0%-22.4%
Q3 2024+21.0%+18.7%+22.0%
Q2 2024-10.7%-17.5%-15.2%
Q1 2024+2.0%+2.4%-9.5%
Q4 2023+11.7%+10.2%+15.1%
Q3 2023-8.2%-12.1%-13.7%
Q2 2023-11.9%-11.1%-12.5%
Q1 2023-4.2%-5.2%-4.8%
Q4 2022-1.7%-1.5%-18.1%
Q3 2022-0.9%-5.7%+1.3%
Q2 2022+3.4%+7.8%+1.8%
Q1 2022-4.1%-5.7%-0.7%
Q4 2021-3.0%-3.4%-6.4%
Q3 2021-0.5%-1.3%-5.0%
Q2 2021-5.8%-9.4%-1.8%
Q1 2021-2.6%-2.6%-3.5%
Q4 2020+0.0%+6.3%+4.1%
Q3 2020+9.2%+23.0%+38.8%
Q2 2020-0.7%-5.9%+11.8%
Q1 2020+3.0%+1.6%+30.5%
Q4 2019-5.6%-2.7%-41.3%
Q3 2019+3.2%+4.8%+9.7%
Q2 2019-5.7%-17.6%-3.9%
Q1 2019-3.6%-7.1%-14.3%
Q4 2018+3.3%+1.2%-4.2%
Q3 2018-9.2%-21.2%-24.5%
Q2 2018+2.4%+3.4%+1.8%
Q1 2018-4.6%-3.0%-1.0%
Q4 2017-1.4%+2.5%-6.5%
Q3 2017+8.1%+7.2%+1.3%
Q2 2017+0.9%-1.4%+3.2%
Q1 2017+1.4%-0.5%+5.0%
Q4 2016+10.1%+4.6%+8.1%
Q3 2016-7.0%-4.2%+6.0%
Q2 2016+11.6%+16.1%+13.0%
Q1 2016-7.6%
Q4 2015+12.5%
Q3 2015-16.8%
Q2 2015-7.8%
Q1 2015+7.5%
Q4 2014-1.3%
Q3 2014+7.1%
Q2 2014+0.5%
Q1 2014+3.4%
Q4 2013+4.1%
Q3 2013+9.2%
Q2 2013-5.6%
Q1 2013+5.6%
Q4 2012-12.7%
Q3 2012+0.1%
Q2 2012+8.3%
Q1 2011+0.5%
Q1 2012+8.6%
Q2 2011+1.1%
Q4 2011+3.4%
Q3 2011-0.7%
Q1 2010-0.7%
Q4 2010-0.7%
Q3 2010
Q2 2010

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