Marriott International Inc. disclosed second-quarter adjusted net income of $525.0 million, or $1.56 per share, a 9.8% decline on a per-share basis from $619.0 million, or $1.73 per share, in the 2018 second quarter.
Second-quarter net income, as reported, came to $232.0 million, or 69.0 cents per share, compared with $667.0 million, or $1.87 per share, in the same period in 2018.
The S&P Global Market Intelligence consensus EPS estimate for the second quarter was $1.56 per share.
Total revenues, as reported, for the quarter came to $5.31 billion, a fall of about 2% year over year from $5.41 billion.
In reporting results, Marriott said it forecasts EPS in the range of $1.47 to $1.51 for the third quarter and in the range of $1.53 to $1.58 for the fourth quarter. The company also expects EPS for the full year at between $5.97 and $6.06.
For the fourth quarter, the S&P Global Market Intelligence consensus EPS estimate is $1.54.
Marriott noted that it recorded a $126 million nontax deductible accrual during the second quarter for the fine the U.K. Information Commissioner's Office proposed in connection with the data security incident it disclosed in November 2018.
The company said it has the right to respond before the final amount of the fine is determined and a fine can be issued, and that it aims to vigorously defend its position. It reflected the accrual in the merger-related costs and charges line of its consolidated statements of income, which has been excluded from adjusted net income, adjusted EPS and adjusted EBITDA.