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.

Marriott International (MAR) Q1 2020 earnings review

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

Coca-Cola (KO) Q1 2021 earnings release

The Coca-Cola Company (NYSE: KO) reported first-quarter 2021 financial results before the regular market hours on Monday. The beverage manufacturer reported fourth-quarter revenue of $9 billion, up 5% year-over-year. The

Earnings calendar for the week of April 19

The market rally gathered pace this week amid impressive quarterly results, led by the banking sector, and positive economic data. Leading stock indexes continued their winning streak, with S&P 500

Undeterred by crisis, Bank of America stays in expansion mode

Leading Wall Street banks recorded robust earnings in the early months of fiscal 2021 with the results benefiting from the release of credit loss reserves, in most cases. Taking advantage

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top