Filing Flows › Marriott Vacations Worldwide (VAC) › Q2 2025
Marriott Vacations Worldwide (VAC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Marriott Vacations Worldwide (VAC) reported revenue of $1.2B for the second quarter 2025 (Q2 2025), +9% from a year earlier and +4% from the quarter before. Operating margin was 9.0%, net earnings $69.0M (5.5% of revenue).
Marriott Vacations Worldwide, Q2 2025: revenue $1.2B (+9% year over year), operating margin 9.0%, net earnings $69.0M, operating cash flow −$48.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | +4% | +9% |
| Operating profit | $112M | -13% | +10% |
| Net earnings | $69.0M | +21% | +82% |
| Operating cash flow | −$48.0M | -700% | — |
What changed
Revenue was $1.2B in Q2 2025, up 9% year over year and up 4% from the previous quarter. Cost Reimbursement was the largest line at 33% of revenue. Sale of vacation ownership products added $0.06B year over year (up 20%), 58% of the total change. Exchange and other services revenues declined 3%.
Operating profit was $0.11B, a 9.0% margin (unchanged year over year). Of the extra revenue versus a year earlier, 9% reached operating profit, above the 9% margin then. Total costs grew 9% against revenue growth of 9%. The fastest-growing cost line was General & admin (+13%). Net earnings were $0.07B, up 86% year over year. The effective tax rate was 26.6%.
Operating cash flow was −$0.05B. Non-cash charges added back $0.04B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.17B. Capital expenditures of $0.02B exceeded it, leaving free cash flow of −$0.07B.
Questions
What was Marriott Vacations Worldwide's revenue in the second quarter 2025?
Marriott Vacations Worldwide (VAC) reported revenue of $1.2B for the second quarter 2025 (Q2 2025), +9% from a year earlier and +4% from the quarter before.
Was Marriott Vacations Worldwide profitable in the second quarter 2025?
Operating profit was $112M (9.0% of revenue) and net earnings $69.0M.