Marriott Vacations reports Q2 adjusted EPS $2.19, consensus $2.76

Reports Q2 revenue $1.18B, consensus $1.23B. “Occupancy was nearly 90% in the second quarter reflecting the continued high demand for vacation experiences from our Owners, members and guests. However, with the tough comparison from last year, as well as the continued transition to the Abound by Marriott Vacations program and the integration of our Hyatt and legacy-Welk businesses, contract sales declined 10% in the quarter, though we still expect to grow contract sales for the full year and generate significant cash flow from operations,” said John Geller, president and CEO. “While the changes to our programs impacted our near-term results, I am confident these are the right strategic changes that will position us for long-term growth.”