Marriott Vacation World | 8-K: FY2026 Q2 Revenue: USD 1.32 B

Revenue: As of FY2026 Q2, the actual value is USD 1.32 B.

EPS: As of FY2026 Q2, the actual value is USD 2.12, beating the estimate of USD 1.684.

EBIT: As of FY2026 Q2, the actual value is USD 157 M.

Second Quarter 2026 Financial Highlights

Marriott Vacations Worldwide Corporation reported that contract sales increased by 22% to $545 million for the second quarter of 2026 . Net income attributable to common stockholders was $77 million, up from $69 million, while Adjusted net income attributable to common stockholders increased by 9% to $84 million . Adjusted EBITDA rose to $215 million from $203 million .

Overall Company Performance

• Revenues excluding cost reimbursements: Increased by 10% to $920 million for the three months ended June 30, 2026, compared to $839 million in the prior year . For the six months ended June 30, 2026, these revenues increased by 5% to $1,747 million, up from $1,666 million in the prior year .
• Income before income taxes and noncontrolling interests: Increased by 21% to $114 million for the three months ended June 30, 2026, compared to $94 million in the prior year . For the six months ended June 30, 2026, this decreased by -19% to $159 million, down from $196 million in the prior year .
• Net income attributable to common stockholders: Increased by 11% to $77 million for the three months ended June 30, 2026, compared to $69 million in the prior year . For the six months ended June 30, 2026, this decreased by -21% to $99 million, down from $125 million in the prior year .
• Adjusted EBITDA: Increased by 6% to $215 million for the three months ended June 30, 2026, compared to $203 million in the prior year . For the six months ended June 30, 2026, this decreased by -5% to $376 million, down from $395 million in the prior year .
• Adjusted EBITDA Margin: Decreased by -90 bps to 23.4% for the three months ended June 30, 2026, compared to 24.3% in the prior year . For the six months ended June 30, 2026, this decreased by -220 bps to 21.5%, down from 23.7% in the prior year .
• Free Cash Flow: For the six months ended June 30, 2026, Free Cash Flow was $256 million, compared to - $28 million in the prior year .
• Adjusted Free Cash Flow: For the six months ended June 30, 2026, Adjusted Free Cash Flow was $201 million, compared to $22 million in the prior year .

Vacation Ownership Segment

• Revenues excluding cost reimbursements: Increased by 10% to $853 million for the three months ended June 30, 2026, compared to $775 million in the prior year .
• Contract sales: Increased by 22% to $545 million for the three months ended June 30, 2026, compared to $445 million in the prior year .
• Volume per Guest (VPG): Increased by 23% to $4,477 for the three months ended June 30, 2026, compared to $3,631 in the prior year .
• Tours: Decreased by -1% to 112,721 for the three months ended June 30, 2026, compared to 114,402 in the prior year, primarily due to strategic actions to prioritize higher profitability in the Asia-Pacific region .
• Segment financial results attributable to common stockholders: Increased by 12% to $219 million for the three months ended June 30, 2026, compared to $197 million in the prior year .
• Segment margin: Increased by 30 bps to 25.7% for the three months ended June 30, 2026, compared to 25.4% in the prior year .
• Segment Adjusted EBITDA: Increased by 7% to $246 million for the three months ended June 30, 2026, compared to $231 million in the prior year .
• Segment Adjusted EBITDA margin: Decreased by -90 bps to 28.9% for the three months ended June 30, 2026, compared to 29.8% in the prior year, mainly due to higher marketing and sales costs and increased unsold maintenance fee expense, partially offset by lower product cost .

Exchange & Third-Party Management Segment

• Revenues excluding cost reimbursements: Decreased by -2% to $50 million for the three months ended June 30, 2026, compared to $51 million in the prior year .
• Total active Interval International members: Decreased by -2% to 1,475,000 at June 30, 2026, compared to 1,507,000 in the prior year .
• Average revenue per Interval International member: Decreased by -2% to $36.83 for the three months ended June 30, 2026, compared to $37.40 in the prior year .
• Segment financial results attributable to common stockholders: Increased by 2% to $17 million for the three months ended June 30, 2026, compared to $16 million in the prior year .
• Segment margin: Increased by 110 bps to 33.1% for the three months ended June 30, 2026, compared to 32.0% in the prior year .
• Segment Adjusted EBITDA: Decreased by -7% to $22 million for the three months ended June 30, 2026, compared to $23 million in the prior year .
• Segment Adjusted EBITDA margin: Decreased by -260 bps to 43.3% for the three months ended June 30, 2026, compared to 45.9% in the prior year .

Balance Sheet and Liquidity

• Liquidity: The company ended the quarter with $928 million in liquidity, including $211 million in cash and cash equivalents and $650 million in available capacity under its revolving corporate credit facility .
• Corporate Debt: Marriott Vacations Worldwide Corporation had $3.1 billion in corporate debt and $2.4 billion in non-recourse debt related to securitized vacation ownership notes receivable at the end of the second quarter .
• Net corporate leverage ratio: Declined to 4.0 times in the second quarter from 4.2 times at the end of the first quarter .
• Inventory: Total inventory was $902 million at quarter-end, with $229 million classified as a component of Property and equipment .

Full Year 2026 Outlook

Marriott Vacations Worldwide Corporation raised its full-year 2026 guidance for several key metrics . The company now expects Contract Sales to be between $2,080 million and $2,115 million, an increase from previous guidance . Adjusted EBITDA guidance was raised to a range of $805 million to $830 million, and Adjusted Free Cash Flow is now projected to be between $410 million and $460 million .