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Marriott International Issues Q4 View; Lifts FY22 Earnings Forecast - Update

While reporting higher third-quarter results, Marriott International Inc. (MAR) on Thursday issued fourth-quarter earnings view in line or above market estimates, and lifted fiscal 2022 forecast.

For the fourth quarter, the company expects adjusted earnings per share in the range of $1.77 to $1.84.

On average, 16 analysts polled by Thomson Reuters expect earnings of $1.77 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted EBITDA is expected between $1.01 billion and $1.04 billion, and gross fee revenues are expected between $1.07 billion and $1.09 billion.

Comparable systemwide constant Worldwide RevPAR is expected to be between 2 percent and 4 percent.

For fiscal 2022, the company now expects adjusted earnings per share in the range of $6.51 to $6.58, compared to previous estimate of $6.33 to $6.59.

Analysts estimate earnings of $6.49 per share for the year.

Adjusted EBITDA for the year is projected between $3.77 billion and $3.80 billion.

Gross fee revenues will be in the range of $4.02 billion to $4.04 billion.

Comparable systemwide Worldwide RevPAR for the year is now expected to be negative 5 percent to negative 3 percent.

Anthony Capuano, Chief Executive Officer, said, "While we are carefully monitoring macroeconomic trends, bookings across all our customer segments remain strong, contributing to the ongoing momentum in our business. We expect continued demand growth around the world in the fourth quarter and anticipate that global RevPAR could increase 2 percent to 4 percent compared to 2019."

For full year 2022, the company now expects to return more than $2.7 billion to shareholders through dividends and share repurchases.

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