Marriott Vacations reports Q3 adjusted EPS $1.20, consensus $2.15

Reports Q3 revenue $1.186B, consensus $1.19B. “We had a difficult quarter between the devastating wildfires in Maui and default rates on our loan portfolio remaining above our recent experience. However, our loan delinquencies are stabilizing and with Maui reopen for tourism we have started to see our resort occupancies recover,” said John Geller, president and chief executive officer. “We’ve also been working hard educating consumers about the benefits of Abound by Marriott Vacations and our salespeople are getting more comfortable selling the new product, which was evident in our results this quarter, with VPG growing sequentially from the prior quarter.”