MARRIOTT VACATIONS WORLDWIDE Corp (VAC) · Nov 4, 2026 · Earnings

Marriott Vacations earnings beat, guidance rises despite storm hit

Beat — Adj. EPS $2.64 vs ~$2.57 consensus

Marriott Vacations earnings beat on adjusted EPS as VPG and contract sales surged, while 2026 guidance moved higher despite hurricane damage.

Marriott Vacations Worldwide is midway through a business transformation focused on better vacation-ownership sales execution, higher-value owner experiences and improved profitability. The second-quarter report had already established that direction, with VPG up 23% and contract sales up 22%; this quarter tests whether that momentum is durable.

The quarter beat on the most important earnings benchmark, but not on revenue. Adjusted diluted EPS was $2.64 versus a published consensus of roughly $2.57, while total revenue was $1.367 billion versus about $1.42 billion expected. The earnings beat came from mix and operating leverage rather than broad-based growth: contract sales rose 29%, VPG jumped 30%, and adjusted EBITDA rose 27% despite tours falling 2% (Financial Highlights). 〔0〕

Metric	Q3 2026	Q3 2025	Consensus / prior guidance
Adjusted EPS (Adjusted EPS reconciliation)	$2.64	$1.69	$2.57 consensus
Total revenue (Income Statement)	$1,367M	$1,263M	$1,420M consensus
Contract sales (Vacation Ownership)	$565M	$439M	—
VPG (Vacation Ownership)	$4,822	$3,700	—
Adjusted EBITDA (Adjusted EBITDA)	$216M	$170M	—
FY26 adjusted EBITDA guidance (2026 Outlook)	$810–830M	—	$805–830M prior
FY26 adjusted free cash flow (2026 Outlook)	$410–430M	—	$410–460M prior

The core vacation-ownership engine is materially healthier. Contract sales reached $565 million and VPG reached $4,822, both sharply above last year, while development profit margin expanded to 31.0% from 20.2% (Vacation Ownership segment results). The company says the improvement reflects higher average transaction sizes and better sales execution, not merely more traffic; tours actually declined 2%. 〔1〕

Management raised the full-year operating outlook despite a known $16 million hurricane drag. The midpoint of contract-sales guidance rose to $2.130 billion from $2.098 billion, and adjusted EBITDA guidance rose to $820 million from $817.5 million (2026 Outlook). Adjusted EPS guidance also moved up to a midpoint of $8.90 from $8.65. That is a meaningful confirmation that management sees the sales and margin gains continuing beyond one quarter, although free-cash-flow guidance was reduced at the midpoint to $420 million from $435 million, reflecting weaker financing activity and other cash items.

The improvement is not completely broad-based. Rental profit fell 40% because of higher inventory costs and the partial closure of five Kauai resorts after Hurricane Lowell, while financing profit declined 6% as financing expense grew faster than revenue (Segment results). The exchange business remained roughly stable, with revenue down 5% and membership down 1%, so the quarter’s advance is being driven primarily by vacation ownership rather than a synchronized recovery across the portfolio. 〔2〕

Bottom line: This is a modestly better-than-expected quarter that strengthens the transformation story: higher-value sales are translating into better margins and a higher full-year outlook. The revenue miss, weaker rental and financing profits, and lower cash-flow range keep it from being a decisive re-rating event, but the business is clearly executing ahead of its prior plan.

What to watch next

Q4 earnings report, early 2027

Original filing on SEC EDGAR

More MARRIOTT VACATIONS WORLDWIDE Corp news

Contract sales surged and guidance jumped, despite softer margins elsewhere

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

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Marriott Vacations earnings beat, guidance rises despite storm hit

What to watch next

More MARRIOTT VACATIONS WORLDWIDE Corp news

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