Originally published at www.seclive.com
Filing in Focus: Marriott Vacations 10-Q, October 10, 2013
Marriott Vacations Worldwide Corp. (NYSE:VAC) announced its third quarter financial results for the fiscal year 2013, detailing results that topped analyst predictions. The company, which was spun off from Marriott International Inc. (NYSE:MAR) in 2011, reported profits of $25M and $0.67 earnings per share, up from $5M and $0.12 per share a year ago. Analysts were hoping from $400M in revenue with $0.39 earnings per share. Marriott Vacations is focused on selling timeshares, an industry that was severely impacted in recent years, but has seen steady growth at Marriott. Timeshare sales were $162M, or 39% of the company's overall revenue. Overall revenue increased 7.6% to $412M while rental revenues improved 14% to $65M.
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