Earnings summaries and quarterly performance for MARRIOTT VACATIONS WORLDWIDE.
Executive leadership at MARRIOTT VACATIONS WORLDWIDE.
John E. Geller, Jr.
Detailed
President and Chief Executive Officer
CEO
BE
Brian E. Miller
President, Vacation Ownership
JH
James H Hunter, IV
Executive Vice President and General Counsel
JP
Jason P. Marino
Executive Vice President and Chief Financial Officer
LG
Lori Gustafson
Executive Vice President and Chief Membership & Commercial Services Officer
Board of directors at MARRIOTT VACATIONS WORLDWIDE.
CA
C.E. Andrews
Detailed
Director
CA
Christian A. Asmar
Detailed
Director
DF
Dianna F. Morgan
Detailed
Director
JA
James A. Dausch
Detailed
Director
JM
Jonice M. Gray
Detailed
Director
LG
Lizanne Galbreath
Detailed
Director
ME
Mary E. Galligan
Detailed
Director
ME
Matthew E. Avril
Detailed
Director
SR
Stephen R. Quazzo
Detailed
Director
WJ
William J. Shaw
Detailed
Chairman of the Board
WW
William W. McCarten
Detailed
Director
Research analysts who have asked questions during MARRIOTT VACATIONS WORLDWIDE earnings calls.
BC
Benjamin Chaiken
Mizuho Financial Group, Inc.
4 questions for VAC
Also covers: BYD, CCL, CHDN +14 more
DK
David Katz
Jefferies Financial Group Inc.
4 questions for VAC
Also covers: AGS, BALY, BYD +34 more
Brandt Montour
Barclays PLC
2 questions for VAC
Also covers: BALY, BYD, CCL +23 more
CS
Charles Scholes
Not Disclosed
2 questions for VAC
Also covers: ABNB, CERT, CHH +8 more
Stephen Grambling
Morgan Stanley
2 questions for VAC
Also covers: BC, BYD, CHH +21 more
Chris Woronka
Deutsche Bank AG
1 question for VAC
Also covers: CAR, DRH, FUN +13 more
C. Patrick Scholes
Truist Securities
1 question for VAC
Also covers: CHH, H, HGV +3 more
PS
Patrick Scholes
Truist Financial Corporation
1 question for VAC
Also covers: CCL, CHH, CUK +12 more
SK
Shaun Kelley
Bank of America Merrill Lynch
1 question for VAC
Also covers: BYD, CHDN, CHH +16 more
Recent press releases and 8-K filings for VAC.
VAC: Interim CEO Matt Avril Outlines Strategic Focus and Financial Position
VAC
CEO Change
Share Buyback
Demand Weakening
- Matt Avril was appointed Interim CEO three weeks ago (as of 2025-12-04) and is focused on improving execution and challenging existing notions, stating that "everything's on the table" for potential strategic changes.
- The company is currently four times levered and aims to reduce this, while acknowledging the stock is undervalued.
- Delinquencies are trending down, with a 90 basis point year-over-year decrease as of Q3 2025, and reserves are 200 basis points higher than two years ago on a $3 billion loan book.
- For FY 2026, the company anticipates headwinds from higher inventory, unsold maintenance fees, and increasing product costs, though new sales centers in Khao Lak and Waikiki are expected to drive sales.
- Eight board members, including the CEO, purchased stock after the Q3 call, reflecting belief in the company's value, with a focus on growing disposable cash flow and opportunistic share buybacks.
Dec 4, 2025, 2:45 PM
Marriott Vacations Interim CEO Outlines Strategic Focus and Financial Outlook
VAC
CEO Change
Share Buyback
New Projects/Investments
- Interim CEO Matt Avril, in his third week, is focused on improving internal execution, particularly in sales and marketing, and maximizing existing inventory utilization, adopting an "everything's on the table" approach.
- The Abound product is now considered to have overcome initial issues and presents a continued opportunity for growth, while the sales division is deemed to have opportunities for improvement rather than being in a "code red" state.
- The company's consumer loan delinquencies are trending down, and management believes they are appropriately reserved, with reserves 200 basis points higher than two years prior.
- Despite being four times levered, the company recently completed a securitization at 4.62% for consumer paper, and eight board members, including the Interim CEO, purchased stock, signaling belief in the stock's undervaluation. The focus is on maximizing cash flow for accretive deployment, balancing share buybacks with reducing leverage.
Dec 4, 2025, 2:45 PM
Marriott Vacations Worldwide Interim CEO Matt Avril Discusses Company Strategy and Outlook
VAC
CEO Change
Share Buyback
New Projects/Investments
- Marriott Vacations Worldwide (VAC) Interim CEO Matt Avril, in his third week, is focused on improving internal execution and has stated that "everything's on the table" for review, including challenging pre-existing notions about the business.
- The company faces headwinds for 2026 related to rental side issues due to higher inventory and unsold maintenance fees, as well as increasing product costs.
- Opportunities include the maturing Abound product and new sales centers in Khao Lak, Asia, and Waikiki, which is expected to be a significant tailwind for the Hawaii portfolio.
- Consumer lending delinquencies are trending down, and the company's reserves are 200 basis points higher than two years ago, with management feeling appropriately reserved.
- The company's leverage is approximately four times, which is higher than desired, but management views the stock as undervalued, evidenced by eight board members (including Avril) purchasing shares. They plan to be opportunistic with share buybacks after reducing leverage.
Dec 4, 2025, 2:45 PM
Marriott Vacations Worldwide Reports Q3 2025 Results and Updates Full-Year Guidance
VAC
Earnings
Guidance Update
Demand Weakening
- Marriott Vacations Worldwide (VAC) reported a 4% year-over-year decline in Q3 2025 contract sales, primarily due to 5% lower VPG and a 1% decline in tours, with particular weakness noted in Orlando and Maui. Adjusted EBITDA for the quarter decreased 15% year-over-year to $170 million.
- The company updated its full-year 2025 guidance, now projecting contract sales to decline 2%-3% and adjusted EBITDA to be in the $740-$755 million range. Adjusted free cash flow is expected between $235-$270 million.
- VAC is implementing operational changes, including adjusting sales and marketing incentive plans, curbing third-party commercial rental activity, and using FICO scoring for marketing. The modernization program is on track to deliver $150-$200 million in run rate EBITDA benefit by the end of 2026, with $20 million in annual cost savings already realized from HR and finance/accounting reorganization.
- In Q3 2025, VAC issued $575 million of 6.5% senior notes to repay convertible debt maturing in January, ending the quarter with $1.4 billion in liquidity and leverage of 4.1 times.
Nov 6, 2025, 1:30 PM
Marriott Vacations Worldwide Reports Q3 2025 Results and Updates Full-Year Guidance
VAC
Earnings
Guidance Update
Demand Weakening
- Marriott Vacations Worldwide reported a 4% year-over-year decline in Q3 2025 contract sales, driven by 5% lower VPG and a 1% decline in tours, leading to a 15% decrease in adjusted EBITDA to $170 million.
- The company updated its full-year 2025 guidance, now expecting contract sales to decline 2%-3% and adjusted EBITDA to be in the $740 million-$755 million range. Adjusted free cash flow guidance was also lowered to $235 million-$270 million.
- Management is implementing operational changes, including adjusting sales incentives, curbing third-party commercial rental activity, and reorganizing HR and finance functions to achieve $20 million in annual cost savings. The modernization program remains on track to deliver $150 million-$200 million in run rate EBITDA benefit by the end of 2026.
- In Q3 2025, VAC issued $575 million of 6.5% senior notes to repay convertible debt, ending the quarter with $1.4 billion in liquidity and 4.1 times leverage.
Nov 6, 2025, 1:30 PM
Marriott Vacations Worldwide (VAC) Provides Q3 2025 Update and FY 2025 Guidance
VAC
Guidance Update
Debt Issuance
New Projects/Investments
- Marriott Vacations Worldwide (VAC) provided Full Year 2025 Guidance, projecting contract sales between $1,760M and $1,780M, Adjusted EBITDA between $740M and $755M, and Adjusted Free Cash Flow between $235M and $270M.
- As of September 30, 2025, the company reported a strong liquidity position of over $1.4 billion, including $474M in available cash on hand, and plans to use $575M of this to repay maturing convertible debt in January 2026.
- The business model is characterized by ~40% of Adjusted EBITDA contribution from recurring sources based on full year 2024 results, with strategic modernization efforts expected to generate $150M to $200M in annualized Adjusted EBITDA benefits by 2026.
- The company is driving growth through continued product transformation, leveraging technology (e.g., 65% of YTD Q3 2025 contract sales to Millennial & Gen X), and adding new resorts in premium locations.
Nov 6, 2025, 1:30 PM
Marriott Vacations Worldwide Reports Q3 2025 Results and Updates Full-Year Guidance
VAC
Earnings
Guidance Update
Demand Weakening
- Marriott Vacations Worldwide reported Q3 2025 contract sales declined 4% year-over-year, driven by a 5% lower VPG and a 1% decline in tours, with particular weakness noted in Orlando and Maui.
- Adjusted EBITDA for Q3 2025 decreased 15% year-over-year to $170 million. The company updated its full-year 2025 adjusted EBITDA guidance to $740-$755 million and expects adjusted free cash flow to be $235-$270 million.
- Management is implementing several initiatives to address sales softness, including adjusting sales and marketing incentive plans, curbing third-party commercial rental activity, and utilizing FICO scoring data for marketing.
- Progress continues on the modernization program, which is expected to deliver $150-$200 million in run rate EBITDA benefit by the end of 2026, with an incremental $60-$80 million benefit in 2026.
- The company issued $575 million of 6.5% senior notes to repay 0% convertible debt maturing in January, ending the quarter with $1.4 billion in liquidity and 4.1 times leverage.
Nov 6, 2025, 1:30 PM
Marriott Vacations Worldwide Reports Q3 2025 Financial Results and Updates Full-Year Guidance
VAC
Earnings
Guidance Update
Demand Weakening
- Marriott Vacations Worldwide (VAC) reported a net loss attributable to common stockholders of $2 million and a diluted loss per share of $0.07 for Q3 2025, with adjusted diluted earnings per share at $1.69.
- Consolidated contract sales for Q3 2025 declined 4% year-over-year to $439 million, attributed to lower tours and VPG, while Adjusted EBITDA decreased 15% to $170 million.
- The company updated its full-year 2025 guidance, narrowing contract sales to $1,760 million to $1,780 million and lowering Adjusted EBITDA to $740 million to $755 million. Adjusted free cash flow guidance was also reduced to $235 million to $270 million.
- As of September 30, 2025, VAC maintained $1,428 million in liquidity, comprising $474 million in cash and cash equivalents and $786 million in available credit facility capacity. The company issued $575 million of 6.5% senior notes due 2033 during the quarter.
Nov 5, 2025, 9:22 PM
Aclara Resources Announces $277M Heavy Rare Earth Facility in Louisiana
VAC
New Projects/Investments
Hiring
- Aclara Resources Inc. is investing $277 million to build the first U.S. heavy rare earth separation facility at the Port of Vinton in Calcasieu Parish, Louisiana.
- The facility, slated to begin construction in 2026 and complete by 2027, aims for production by mid-2028 and is expected to create 140 direct jobs and an additional 456 indirect jobs.
- It will utilize Aclara's proprietary sustainable extraction technology to produce high-purity dysprosium, terbium, and neodymium-praseodymium oxides, potentially supplying over 75% of the U.S. demand for some of these elements.
- The project is supported by a $46.4 million package in tax incentives and grants from the Louisiana state government.
Oct 24, 2025, 2:12 PM
VAC Confirms FY2025 Adjusted EBITDA Forecast and Sets 2030 Targets
VAC
Guidance Update
New Projects/Investments
M&A
- Pierre & Vacances-Center Parcs (VAC) confirms its adjusted EBITDA forecast of more than 180 million euros for fiscal year 2025.
- The Group targets an adjusted EBITDA of 270 million euros by 2030, driven by an expected average annual tourist revenue growth of 5.8% to reach 2,490 million euros in 2030.
- This 2030 objective is supported by a strategic options review that could involve capital evolution and additional financing, and the company projects adjusted EBITDA of 185 million euros in 2026.
- The Group plans nearly 640 million euros in CAPEX over the business plan duration and expects cumulative operating cash flow generation of approximately 300 million euros over the next five years.
Sep 29, 2025, 3:45 PM
Quarterly earnings call transcripts for MARRIOTT VACATIONS WORLDWIDE.
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