The raised RevPAR guidance and new co-branded credit card deals are positive catalysts, but international weakness and flat GAAP net income create a mixed picture. Monitor the Q3 earnings call for updates on Middle East trends and the initial financial impact of the new credit card agreements. The stock may trade on the adjusted EPS beat and guidance raise, but the lack of GAAP net income growth could limit upside.
Price Chart
Executive Summary
Marriott reported Q2 2026 results with adjusted EPS of $3.19, which is above the Street consensus of $3.06, and adjusted EBITDA of $1,592M, up 13% YoY. The company raised its full-year RevPAR growth guidance to 3.0%-3.5% and announced new long-term co-branded credit card agreements with JPMorgan Chase and American Express, which are expected to provide incremental revenue. However, international RevPAR declined 0.5% due to the Middle East conflict, and GAAP net income was flat YoY at $766M, with a $68M impairment charge and a $27M litigation accrual weighing on results. The beat on adjusted EPS and raised guidance are positive, but the flat net income and international headwinds temper the outlook, leading to a mixed sentiment.
Key Financial Metrics
Key Facts
- Adjusted diluted EPS of $3.19 beat consensus of $3.06 by 4.2%
- Adjusted EBITDA of $1,592M was up 13% YoY and above the prior guidance range of $1,525M-$1,550M
- Full-year 2026 RevPAR growth guidance raised to 3.0%-3.5% from 2.0%-3.0%
- New long-term co-branded credit card agreements with JPMorgan Chase and American Express executed
- International RevPAR declined 0.5% in Q2, with Middle East RevPAR down 33.1%
- GAAP net income was flat at $766M, with a $68M impairment charge and a $27M litigation accrual
- Company repurchased 3.0M shares for $1.1B in Q2; year-to-date returned ~$2.6B to shareholders
- Development pipeline reached a record ~629,000 rooms, up nearly 7% YoY
Financial Impact
Adjusted EPS beat consensus by $0.13 (+4.2%); full-year adjusted EPS guidance raised to $11.64-$11.81 from $11.38-$11.63
Risk Factors
- Continued weakness in Middle East RevPAR due to geopolitical conflict
- Higher interest expense from increased debt balances ($16.9B total debt at quarter-end)
- Property-related litigation accrual of $27M may signal further legal costs
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001048286-26-000033 |
| Document: mar-20260803.htm | 0001048286-26-000033 |
| Document: 0001048286-26-000033-index-headers.html | 0001048286-26-000033 |
| Document: 0001048286-26-000033-index.html | 0001048286-26-000033 |
| Document: 0001048286-26-000033.txt | 0001048286-26-000033 |
| 8-K Data (Synthetic) | 0001048286-26-000033 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 7w ago | 424B5 | $349.49 $331.52 | ▼ −5.14% | ▼ −4.08% | $357.82 (+2.38%) |
Aug 6, 2026 8w ago | Press Release | $359.67 $336.09 | ▼ −6.56% | ▼ −7.16% | $357.82 (−0.51%) |
Aug 3, 2026 8w ago | 8-K | $346.83 $341.76 | ▼ −1.46% | ▼ −2.70% | $357.82 (+3.17%) |
Jul 13, 2026 11w ago | Court Ruling | $362.87 $348.44 | ▲ +3.98% | ▲ +7.16% | $357.82 (+1.39%) |
May 19, 2026 19w ago | Insider Cluster | $369.38 $394.61 | ▲ +6.83% | ▲ +6.87% | $357.82 (−3.13%) |
May 19, 2026 19w ago | Insider Cluster | $369.38 $394.61 | ▲ +6.83% | ▲ +6.87% | $357.82 (−3.13%) |
May 14, 2026 20w ago | Court Ruling | $353.47 $402.54 | ▲ +13.88% | ▲ +14.74% | $357.82 (+1.23%) |
May 6, 2026 21w ago | 8-K | $358.92 $376.75 | ▲ +4.97% | ▲ +2.19% | $357.82 (−0.31%) |
Mar 31, 2026 26w ago | Court Ruling | $326.93 $352.97 | ▲ +7.97% | ▼ −1.46% | $357.82 (+9.45%) |
Mar 27, 2026 27w ago | DEFA14A | $316.77 $360.57 | ▲ +13.83% | ▲ +1.09% | $357.82 (+12.96%) |
US Market Status
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