Categories AlphaGraphs, Consumer, Earnings
Marriott International (MAR) Q1 profit dips 92%, misses estimates
Marriott International Inc. (NASDAQ: MAR) reported its first-quarter 2020 results, which were dramatically impacted by the COVID-19 global pandemic. The bottom line was hurt by impairment charges, bad debt expense, and guarantee reserves related to the COVID-19.
The company added 88 new properties (14,525 rooms) to its worldwide lodging portfolio during Q1, including nearly 2,100 rooms converted from competitor brands and about 7,200 rooms in international markets. Eighteen properties (3,670 rooms) exited the system during the quarter.
Due to the numerous uncertainties associated with COVID-19, Marriott cannot presently estimate the financial impact of this unprecedented situation, which is highly dependent on the severity and duration of the pandemic and its impacts, but expects that COVID-19 will continue to be material to the company’s results.
Take a look at our Consumer articles here
Most Popular
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
Key metrics from Nike’s (NKE) Q2 2025 earnings results
NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net
FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips
Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,
