Earnings Releases·Nov 4, 2026, 7:01 AM ET

Marriott Vacations Worldwide — Third Quarter 2026 Earnings Summary

Q3 2026 revenues excluding cost reimbursements rose 15% YoY to $857 million, driving a turnaround in net income to $82 million ($2.24 diluted EPS) from a $2 million loss in the prior year, while Adjusted EBITDA grew 27% to $216 million.
The company raised full-year 2026 guidance, increasing the midpoint for Contract Sales to $2,130 million and Adjusted EBITDA to $820 million, with updated full-year Adjusted net income guidance set at $315 million to $335 million.
Strategic shifts in the Vacation Ownership segment prioritized profitability over volume, resulting in a 2% decline in tours but a 30% increase in Volume per Guest (VPG) to $4,822 and a 58% jump in segment financial results to $220 million.
Capital return and liquidity initiatives included extending the share repurchase authorization by $322 million to December 2027, generating $66 million from Asia Pacific note sales, and completing a $460 million term securitization post-quarter.
The full-year outlook includes an estimated $16 million adverse impact from Hurricane Lowell, which also caused the partial closure of five Kauai resorts, though the company maintains a net corporate leverage ratio of 3.6 times and $1.1 billion in total liquidity.