Filing Flows › Marriott Vacations Worldwide (VAC) › Q1 2026
Marriott Vacations Worldwide (VAC) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Marriott Vacations Worldwide (VAC) reported revenue of $1.3B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -5% from the quarter before. Operating margin was 7.0%, net earnings $22.0M (1.8% of revenue).
Marriott Vacations Worldwide, Q1 2026: revenue $1.3B (+5% year over year), operating margin 7.0%, net earnings $22.0M, operating cash flow −$4.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | -5% | +5% |
| Operating profit | $88.0M | — | -32% |
| Net earnings | $22.0M | — | -61% |
| Operating cash flow | −$4.0M | -167% | -150% |
What changed
Revenue was $1.3B in Q1 2026, up 5% year over year and down 5% from the previous quarter. Cost reimbursements was the largest line at 34% of revenue. Cost reimbursements added $0.06B year over year (up 15%), 100% of the total change. Sale of vacation ownership products declined 3%.
Operating profit was $0.09B, a 7.0% margin (down 3.7 points year over year). Operating profit fell $0.04B even though revenue rose $0.06B versus Q1 2025, so costs grew faster than sales. Total costs grew 9% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+11%). Net earnings were $0.02B, down 61% year over year. The effective tax rate was 51.1%.
Operating cash flow was −$4.0M. Non-cash charges added back $0.03B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.07B. 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 2026?
Marriott Vacations Worldwide (VAC) reported revenue of $1.3B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -5% from the quarter before.
Was Marriott Vacations Worldwide profitable in the first quarter 2026?
Operating profit was $88.0M (7.0% of revenue) and net earnings $22.0M.