BETHESDA (dpa-AFX) - Marriott International, Inc. (MAR), while reporting financial results for the fourth quarter, on Tuesday issued adjusted earnings outlook for first quarter fiscal 2025, both below market.
In pre-market activity on the Nasdaq, Marriott shares were trading at $297.93, down 2.1 percent.
For the first quarter, the company projects adjusted earnings of $2.20 to $2.26 per share, and gross fee revenues of $1.24 billion to $1.26 billion.
The Wall Street analysts on average expect the company to report earnings of $2.37 per share. Analysts' estimates typically exclude special items.
For fiscal 2025, the company projects adjusted earnings per share of $9.82 to $10.19 and gross fee revenues of $5.37 billion to $5.48 billion.
The Street is looking for earnings of $10.63 per share for the year.
In fiscal 2024, reported earnings per share totaled $8.33, and adjusted earnings per share totaled $9.33.
In its fourth quarter, Marriott reported weak earnings, but above the Street estimates.
The company's earnings totaled $455 million or $1.63 per share, compared with $848 million or $2.87 per share last year.
Adjusted earnings were $686 million or $2.45 per share for the period. Analysts had expected the company to earn $2.38 per share.
The company's revenue for the period rose 5.5 percent to $6.429 billion from $6.095 billion last year. The Street expected revenues of $6.4 billion for the quarter.
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