Marriott Vacations Worldwide C Stock Price, News & Analysis

Marriott Vacations Worldwide Corporation (NYSE: VAC) has appointed Jonice Gray Tucker to its board of directors, effective November 2, 2021. Ms. Tucker, a partner at Buckley LLP with expertise in financial services and technology, expands the board to 11 members. Her experience includes leadership roles in banking law and consumer protection, which the company anticipates will support future growth. Marriott Vacations Worldwide operates nearly 120 resorts and serves over 700,000 owners and members globally, highlighting its leading position in the vacation ownership industry.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has announced the promotion of Anthony "Tony" Terry to the role of executive vice president and chief financial officer, effective October 16, 2021. Terry, a 25-year veteran with extensive experience in financial management, previously served as Senior Vice President of Global Operational Finance. This move reflects the company's commitment to leadership development and growth, allowing President John E. Geller, Jr. to focus on long-term strategies. Terry's leadership is expected to enhance profitability and innovation amid ongoing business transformation.

Marriott Vacations Worldwide Corporation (NYSE: VAC) will release its third quarter 2021 financial results on November 8, 2021, before the market opens. The company will hold a conference call at 8:30 a.m. ET to discuss the results. Participants can join the call by calling (877) 407-8289 or (201) 689-8341 for international callers. A live webcast will also be available on the company's Investor Relations website. An audio replay of the call will be accessible from 10:00 a.m. on November 8 to 10:00 p.m. on December 8, 2021.

ORLANDO, Fla., Sept. 13, 2021 /PRNewswire/ -- Marriott Vacations Worldwide Corporation (VAC) updates its third-quarter outlook, expecting contract sales of $380-$410 million, impacted by COVID-19 and Lake Tahoe fires. Despite these challenges, Adjusted EBITDA is expected to approach 2019 levels. The company has terminated a covenant waiver, plans to repay $500 million in corporate debt, and reinstated a $0.54 per share dividend effective October 7, 2021. A $250 million share repurchase authorization is also announced. Financial results will be reported on or about November 8, 2021.

Marriott Vacations Worldwide Corporation (NYSE: VAC) will host a fireside chat on September 13, 2021, at 2:10 p.m. ET, featuring CEO Stephen P. Weisz and CFO John Geller. This event is part of the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. A live webcast will be available in the Investor Relations section of the company's website, with access for 30 days post-event. The company, a leader in vacation ownership and hospitality, manages nearly 120 resorts and serves approximately 700,000 Owners and Members worldwide.

Marriott Vacations Worldwide (NYSE: VAC) reported strong second quarter 2021 results, with contract sales surging 60% to $362 million sequentially. Adjusted EBITDA more than doubled to $164 million. The acquisition of Welk Resorts for $405 million significantly contributed to the results. Notably, adjusted earnings per share reached $0.85, and the company anticipates contract sales of $380-$410 million for Q3 2021. Pro forma liquidity stood at nearly $1.5 billion, bolstered by a successful securitization of timeshare receivables.

Marriott Vacations Worldwide Corporation (NYSE: VAC) will release its Q2 2021 financial results on July 28, 2021, after market close. A conference call to discuss the results is scheduled for 8:30 a.m. ET on July 29, 2021. Participants can join by calling (877) 407-8289 or via international line (201) 689-8341. The live webcast will be accessible on the company's Investor Relations website. An audio replay will be available beginning at 10:00 a.m. on July 29 until 10:00 p.m. on August 29, 2021.

Marriott Vacations Worldwide Corporation (NYSE: VAC) updated its outlook for Q2 2021 during the Jefferies Virtual Consumer Conference. The company reports a strong recovery, with occupancies and tours increasing sequentially. Contract sales are now expected to be between $345 million and $355 million, up from prior guidance of $320 million to $340 million. This reflects a 55% sequential increase from Q1 2021. Reservations for the second half of 2021 are over 15% higher compared to 2019 levels. Q2 financial results are anticipated on or around July 28, 2021.

Marriott Vacations Worldwide Corporation (NYSE: VAC) will participate in a fireside chat at the Jefferies Virtual Consumer Conference on June 23, 2021, at 9:10 a.m. ET. The session will feature CEO Stephen P. Weisz and CFO John Geller. A live webcast will be accessible on the company's Investor Relations website and will remain available for 30 days post-event. Marriott Vacations Worldwide operates nearly 120 resorts, serves over 700,000 Owners and Members globally, and maintains partnerships with Marriott International and Hyatt Hotels.