Marriott Q3 FY2026: EPS $3.04 beats consensus, fee revenue up 14.0%
Marriott beat the $2.8712 EPS consensus with $3.04 and grew gross fee revenue 14.0%, so the quarter reads Bullish. Read revenue with care: $5.08 billion of the $7.01 billion is cost reimbursement revenue that passes through at near-zero margin. The fee lines, owned/leased profit and the raised RevPAR outlook are the real signal.
1 · Expected vs. Actual
Free preview belowDiluted EPS came in at $3.04 against a $2.8712 consensus, a beat of $0.17, and up from $2.67 a year ago; Adjusted diluted EPS was $3.02. Net income rose 9.1% to $794 million. Per-share growth outran profit growth because diluted shares fell to 261.2 million from 272.5 million after $1.3 billion of buybacks in the quarter.
Revenue rose 8.0% to $7.01 billion from $6.49 billion, but almost all of that is pass-through: cost reimbursement revenue was $5.08 billion against reimbursed expenses of $5.07 billion. Gross fee revenue of $1.52 billion, up 14.0%, is the line that actually drives profit. Owned, leased and other revenue was only $436 million, up 3.8%.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-02
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