ORLANDO, Fla. (AP) 鈥� ORLANDO, Fla. (AP) 鈥� Marriott Vacations Worldwide Corp. (VAC) on Tuesday reported first-quarter earnings of $22 million.
On a per-share basis, the Orlando, Florida-based company said it had profit of 64 cents. Earnings, adjusted for one-time gains and costs, were $1.24 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.60 per share.
The timeshare company posted revenue of $1.26 billion in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $1.2 billion.
Marriott Vacations Worldwide expects full-year earnings in the range of $7.05 to $7.80 per share.
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