By Katherine Hamilton
Marriott International beat expectations with its first-quarter earnings, but lowered its outlook to account for slower demand in North America.
The Bethesda, Md., hotel company on Monday posted a profit of $665 million, or $2.39 a share, in the quarter ended March 31, compared with $564 million, or $1.93 a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were $2.32, ahead of the $2.25 forecast by analysts, according to FactSet.
Revenue rose 5% to $6.26 billion. Analysts surveyed by FactSet forecast revenue of $6.19 billion.
Marriott lowered its outlook for the second quarter and full year, incorporating somewhat softer expectations in the U.S. and Canada, it said. It now expects revenue per available room, a key metric for hotels, to grow 1.5% to 2.5% in the second quarter, down from previous guidance of 3% to 4%. For the full year, it expects that measure to grow 1.5% to 3.5%, down from 2% to 4%.
Chief Executive Anthony Capuano said he was confident in the company despite what he called "heightened macroeconomic uncertainty."
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
May 06, 2025 07:18 ET (11:18 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.