Marriott International (NASDAQ: MAR) stock started the day in the green after the company announced it had beat earnings estimates for its second quarter.
The hotel operator saw Q2 revenues accelerate by 69.5% compared to the previous year, to a total of $5.34 billion. Furthermore, the earnings per share (EPS) jumped to $1.80. Analysts on Wall Street expected the company to report $4.96 billion in revenue and $1.57 EPS, respectively.
Moreover, Marriott managed to add roughly 17,000 rooms globally in Q2, with 9,200 rooms in international markets. These investments were coupled with the firm’s bullishness on leisure travel continuing to be strong going into the third quarter.
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Strong growth for MAR
Anthony Capuano, Chief Executive Officer, sounded enthusiastic about the revenue beat, highlighting the robust increase in demand that led to the business firing on all cylinders.
“Marriott’s second-quarter results highlight consumers’ love for travel. We reported outstanding results, as momentum in global lodging recovery continued.”
He also added:
“With demand increasing across all customer segments throughout the quarter, and nearly all countries easing travel restrictions, worldwide RevPAR1 surpassed 2019 levels in June. The second quarter average daily rate was robust, at 7 percent above 2019 levels, and worldwide occupancy reached 68 percent.”
MAR chart and analysis
The short-term trend is positive, while the long-term trend is neutral for MAR, which is evolving in the right direction for investors looking to long the stock. The trading range over the last month was quite broad, between $133.54 and $160.02, with the stock down ‘just’ 1% for the year.
Furthermore, MAR is one of the better performers in 2022 as the stock is barely down compared to the shock investors faced during the pandemic.
Strong recovery, robust revenue growth, and optimism by the management that the momentum will carry over into Q3 are all positive signs that the shares will continue performing well going into the future.
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