Last $74.17 USD
Change Today +0.87 / 1.19%
Volume 108.1K
VAC On Other Exchanges
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As of 5:15 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

marriott vacations world (VAC) Key Developments

Marriott Vacations Worldwide Corp. Presents at Boston Lodging Investor Conference 2014, Dec-03-2014

Marriott Vacations Worldwide Corp. Presents at Boston Lodging Investor Conference 2014, Dec-03-2014 . Venue: Mandarin Oriental Hotel, Boston, Massachusetts, United States.

Marriott Vacations Worldwide Corp. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 12, 2014; Revises Earnings Guidance for 2014

Marriott Vacations Worldwide Corp. announced unaudited consolidated earnings results for the third quarter and nine months ended September 12, 2014. Third quarter 2014 net income totaled $25 million, or $0.75 per diluted share, compared to net income of $25 million, or $0.67 per diluted share, in the third quarter of 2013. Adjusted EBITDA was $54 million in the third quarter of 2014, a $4 million, or 8%, increase from $50 million in the third quarter of 2013. Total revenues were $413 million against $412 million a year ago. Income before income taxes was $43 million against $40 million a year ago. On adjusted basis, income before income taxes was $47 million against $43 million a year ago. On adjusted basis, net income totaled $27 million, or $0.81 per diluted share, compared to net income of $27 million, or $0.72 per diluted share, in the third quarter of 2013. Adjusted EBITDA totaled $54 million, an increase of $4 million, or 8%, year-over-year. For the nine months, total revenues were $1,225 million against $1,223 million a year ago. Income before income taxes was $133 million against $114 million a year ago. Net income was $80 million or $2.28 per diluted share against $74 million or $2.03 per diluted share a year ago. On adjusted basis, income before income taxes was $130 million against $112 million a year ago. On adjusted basis, net income totaled $78 million, or $2.23 per diluted share, compared to net income of $73 million, or $1.99 per diluted share, in the third quarter of 2013. Net cash provided by operating activities was $206 million against $123 million a year ago. Capital expenditures for property and equipment (excluding inventory) were $8 million against $11 million a year ago. For the full year 2014, the company is updating guidance. The company now expects adjusted free cash flow of 230 million to $245 million from $190 million to $205 million. It expects adjusted fully diluted earnings per share of $2.67 to $2.84 from $2.64 to $2.82. The company is also reaffirming the following guidance for full year 2014 as previously provided on July 24, 2014: Adjusted EBITDA of $190 million to $200 million; Adjusted net income of $93 million to $99 million.

Marriott Vacations Worldwide Corp. Completes Securitization of Vacation Ownership Loans

Marriott Vacations Worldwide Corporation announced the completion of a securitization of a pool of approximately $250 million of vacation ownership loans. Approximately $205 million of the loans were purchased on October 9, 2014 by the MVW Owner Trust 2014-1 and all or a portion of the remaining loans may be purchased by the Trust prior to February 16, 2015. In connection with the securitization, investors purchased $240 million of notes from the Trust. The Notes were offered in a private placement within the United States to qualified institutional buyers pursuant to Rule 144A and outside the United States in accordance with Regulation S under the Securities Act of 1933, as amended. Two classes of Notes were issued by the Trust: approximately $216 million of Class A Notes and approximately $24 million of Class B Notes. The Class A Notes have an interest rate of 2.25% and the Class B Notes have an interest rate of 2.70%, for an overall weighted average interest rate of 2.29%. Of the $240 million in proceeds from the transaction, approximately $43 million will be held by the Trust until it purchases all or a portion of the remaining loans or, if not used for that purpose, returned to the investors. In addition, approximately $4 million was used to pay transaction expenses and fund required reserves and the remainder will be used for general corporate purposes.

Marriott Vacations Worldwide Corp. Presents at Telsey Advisory Group 5th Annual Fall Consumer Conference, Sep-30-2014

Marriott Vacations Worldwide Corp. Presents at Telsey Advisory Group 5th Annual Fall Consumer Conference, Sep-30-2014 . Venue: Intercontinental Times Square, New York, New York, United States.

Marriott Vacations Worldwide Corp. to Report Q3, 2014 Results on Oct 16, 2014

Marriott Vacations Worldwide Corp. announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Oct 16, 2014

 

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VAC

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Valuation VAC Industry Range
Price/Earnings 29.9x
Price/Sales 1.8x
Price/Book 2.1x
Price/Cash Flow 27.4x
TEV/Sales 1.2x
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