The stock share price for Marriott Vacation Club experienced a sharp rise on Thursday after the company’s fourth quarter and full-year earnings announcement came back with positive outlooks.
By midday Thursday, Marriott Vacation Club ’s stock was up to $97.60, up $7.77 – 8.65 percent. It ended the day at $97.29, which was still up by $7.46 – 8.3 percent.
Higher Net Income
The company also shared that its net income rose by 50 percent in the fourth quarter when being compared to the previous year. This is despite the 8 million dollar estimated negative impact to sales due to Hurricane Matthew throughout October & November.
The company’s reported net income cam out to be $49.8 million for the last quarter of 2017, ending Dec. 31. Which rivaled their previous record of $33.1 million in the fourth quarter of 2015, representing an increase of over $16 million.
Why the Rise in Income?
The company credited the rise in net income to a higher margin of development , higher revenue from resort management and other services compared to expenses and lower acquisition costs, among other things.
Total company vacation ownership contract sales were reported at $234.3 million, $30.1 million, or 14.7 percent, higher than the fourth quarter of 2015.
The company broke down regional results: $27 million increase in contract sales in the company’s North America segment and $5.6 million increase in the company’s Asia Pacific segment, partially offset by $2.5 million decrease in the company’s Europe segment.
The Orlando-based timeshare company also said its outlook for 2017 was rosy, anticipating growth in revenue from $139 million to $148 million.
Marriott Timeshare Resales
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