Filing Flows › Marriott Vacations Worldwide (VAC) › Q1 2025
Marriott Vacations Worldwide (VAC) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Marriott Vacations Worldwide (VAC) reported revenue of $1.2B for the first quarter 2025 (Q1 2025), +0.4% from a year earlier and -10% from the quarter before. Operating margin was 10.8%, net earnings $57.0M (4.8% of revenue).
Marriott Vacations Worldwide, Q1 2025: revenue $1.2B (+0.4% year over year), operating margin 10.8%, net earnings $57.0M, operating cash flow $8.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | -10% | +0.4% |
| Operating profit | $129M | +25% | -6% |
| Net earnings | $57.0M | +16% | +24% |
| Operating cash flow | $8.0M | -92% | +167% |
What changed
Revenue was $1.2B in Q1 2025, roughly flat year over year and down 10% from the previous quarter. Cost Reimbursement was the largest line at 31% of revenue. Rental added $0.01B year over year (up 7%), 220% of the total change. Cost Reimbursement declined 5%.
Operating profit was $0.13B, a 10.8% margin (down 0.7 points year over year). Operating profit fell $0.01B even though revenue rose $0.01B versus a year earlier, so costs grew faster than sales. Total costs grew 1% against flat revenue. Net earnings were $0.06B, up 19% year over year. The effective tax rate was 44.1%.
Operating cash flow was $0.01B (up 167% year over year), 14% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.09B. Capital expenditures of $0.01B exceeded it, leaving free cash flow of −$0.01B.
Questions
What was Marriott Vacations Worldwide's revenue in the first quarter 2025?
Marriott Vacations Worldwide (VAC) reported revenue of $1.2B for the first quarter 2025 (Q1 2025), +0.4% from a year earlier and -10% from the quarter before.
Was Marriott Vacations Worldwide profitable in the first quarter 2025?
Operating profit was $129M (10.8% of revenue) and net earnings $57.0M.