Marriott Vacations reports Q3 adjusted EPS $1.69, consensus $1.60

Reports Q3 revenue $1.26B, consensus $1.31B. Contract sales in the quarter declined 4% compared to the prior year period, driven by a 1% decline in tours and a 5% decline in VPG. “We are not satisfied with this performance and are taking concrete actions to return to growth, including realigning sales and marketing field incentives to drive strong productivity, curbing third-party commercial rental activity to drive higher owner arrivals and satisfaction, and implementing FICO-based screening to enhance lead quality and drive improved VPGs. We continue to expect a $150M-$200M adjusted EBITDA benefit from our modernization program by the end of 2026,” said John Geller, CEO.