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Marriott Vacations Worldwide profit beats consensus by 51.2% in fiscal Q1

Marriott Vacations Worldwide Corp. said its normalized net income for the fiscal first quarter ended March 27 came to $1.07 per share, compared with the S&P Capital IQ consensus estimate of 71 cents per share.

EPS climbed 81.9% year over year from 59 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $35.2 million, a gain of 67.4% from $21.1 million in the prior-year period.

The normalized profit margin climbed to 11.0% from 7.7% in the year-earlier period.

Total revenue increased 19.3% year over year to $324.5 million from $271.9 million, and total operating expenses climbed 12.3% year over year to $265.2 million from $236.1 million.

Reported net income rose 75.5% from the prior-year period to $34.0 million, or $1.03 per share, from $19.4 million, or 54 cents per share.