Participation in the conference has been arranged. Marriott Vacations Worldwide Corporation has announced its participation in the Morgan Stanley Travel & Leisure Conference, scheduled for June 2, 2026, in New York City. Matt Avril, the company's President and Chief Executive Officer, will deliver a presentation and join a panel discussion during the event to update investors on the company's latest strategic direction and business progress.
This participation comes at a time when the company is undergoing significant strategic adjustments and leadership restructuring. The company's previously released financial results for the first quarter of 2026 showed contract sales of $411 million, a 2% decrease year-over-year. Adjusted EBITDA was $161 million, down 16% from $192 million in the same period last year. Net profit was $22 million, or $0.64 per share, compared to $56 million, or $1.46 per share, in the prior-year period.
In the earnings conference call, CEO Matt Avril stated that the declines in contract sales and EBITDA for the first quarter align with the company's expectation of a "transition in the first half and improvement in the second half" for the year. The company has implemented several measures to strengthen its foundation, including optimizing its organizational structure, making personnel adjustments, and divesting non-core assets.
Notably, the company's contract sales in April showed an 8% year-over-year increase, with an 11% growth in the North American market effectively offsetting a planned contraction in the Asian market. The company has raised its full-year contract sales guidance while reaffirming its unchanged full-year adjusted EBITDA outlook. For the second quarter, contract sales are projected to grow between 4% and 8%, with adjusted EBITDA expected to be in the range of $187 million to $202 million.
The company recently appointed several new senior executives in sales and marketing and restructured its sales and field marketing organization. President and Chief Operating Officer Mike Flaskey indicated that the implemented measures are driving business improvements, and most of the opportunities the company faces are within its control.
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