Stock Track | Marriott Vacations Surges Over 18% on Strong Q3 Earnings and Bullish Analyst View

Stock Track2024-11-08

Shares of Marriott Vacations Worldwide Corporation (VAC) soared 18.32% on Wednesday, November 7th, propelled by a combination of stellar quarterly results and positive analyst sentiment.

The timeshare company reported excellent third-quarter 2024 earnings, with both adjusted earnings per share and revenues surpassing analyst estimates and increasing year-over-year. The robust performance was driven by solid contributions from the Vacation Ownership segment, which saw increased tours, higher development, resort management, and rental profit.

Buoyed by the impressive earnings, Marriott Vacations raised its full-year 2024 adjusted EBITDA guidance to a range of $700 million to $720 million, up from the previous projection of $685 million to $715 million. This upward revision further fueled investor optimism and contributed to the stock's rally.

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