$VAC (Marriott Vacations Worldwide Corp.)

$VAC {{ '2016-10-13T18:43:41+0000' | timeago}} • Webcast

$VAC said its new sales centers contributed almost $6MM of contract sales in line with expectations for 3Q16. The company opened its permanent sales center in Washington DC in the beginning of 3Q16 and also opened its onsite sales center in New York. In mid July, $VAC opened a sales center in San Diego. Performance in all centers is positive.

$VAC {{ '2017-09-21T12:02:30+0000' | timeago}} • Announcement

$VAC announced the pricing of the offering of $200MM aggregate principal amount of convertible senior notes due 2022.  The offering is expected to close on Sept 25, 2017. The notes will bear interest of 1.50% per year, payable semiannually in arrears on Mar 15 and Sept 15 of each year, beginning on Mar 15, 2018.

$VAC {{ '2017-09-19T20:31:10+0000' | timeago}} • Announcement

$VAC plans to offer $200MM of convertible senior notes due 2022 in a private offering to qualified institutional buyers. The company also expects to grant to the initial purchasers of the notes an option to purchase up to an additional $30MM of notes within a 13-day period beginning on, and including, the initial closing date.

$VAC {{ '2017-09-08T13:26:32+0000' | timeago}} • Announcement

$VAC BoD authorized a quarterly cash dividend of $0.35 per share of common stock. The dividend is payable on Oct 5, 2017 to shareholders as of Sept 21, 2017.

$VAC {{ '2017-08-18T11:30:58+0000' | timeago}} • Announcement

$VAC has completed securitization of a pool of around $361MM of its vacation ownership loans.  In connection with the securitization, Investors purchased $350MM of the Trust’s notes, which were offered in a private placement. A part of the proceeds from the transaction will be used for redeeming the remaining loans or will be returned to investors.

$VAC {{ '2017-05-12T13:36:52+0000' | timeago}} • Announcement

$VAC's BoD authorized a quarterly cash dividend of $0.35 per share of common stock. The dividend is payable on June 8, 2017 to shareholders of record as of May 25, 2017.

$VAC {{ '2017-02-10T14:34:40+0000' | timeago}} • Announcement

$VAC's BoD authorized a quarterly cash dividend of $0.35 per share of common stock. The dividend is payable on March 9, 2017 to shareholders of record as of Feb. 23, 2017.

$VAC {{ '2016-12-09T14:28:12+0000' | timeago}} • Announcement

$VAC's BoD approved a resolution changing the company's fiscal year to a calendar year-end beginning with 2017. The company will not restate historical results as a part of this change. The company's fiscal year 2017 will begin on December 31, 2016 and will end on December 31, 2017.

$VAC {{ '2016-12-09T14:27:48+0000' | timeago}} • Announcement

$VAC said its BoD authorized a quarterly cash dividend of $0.35 per share of common stock, an increase of 16.7% over the previous dividend of $0.30 per share. The dividend is payable on January 4, 2017 to shareholders of record as of December 22, 2016.

$VAC {{ '2016-10-13T19:32:56+0000' | timeago}} • Webcast

$VAC said the only two sites currently impacted by Hurricane Matthew are the sales centers in Hilton Head and Myrtle Beach. $VAC believes Myrtle Beach might open this coming weekend but due to infrastructure problems, Hilton Head might become operational toward the middle to end of next week.

$VAC {{ '2016-10-13T19:18:13+0000' | timeago}} • Webcast

YTD, $VAC repurchased 2.8MM shares for $163.4MM and paid more than $26MM in dividends. Cash and cash equivalents totaled $174.8MM at 3Q16-end.  Total debt outstanding at 3Q16-end totaled $815MM.

$VAC {{ '2016-10-13T19:13:49+0000' | timeago}} • Webcast

In 3Q16, $VAC's financing revenues, net of related expenses, were $18.9MM, up 7.6% from 3Q15. Total company rental revenues were $73.8MM, down $2.3MM from last year. Resort management and other services revenue, net of expenses, totaled $30.1MM, up 13.9% from last year.

$VAC {{ '2016-10-13T18:57:17+0000' | timeago}} • Webcast

$VAC expects to generate roughly 4% growth in contract sales for full-year 2016. For Asia Pacific and North America, $VAC expects contract sales growth percentage in 4Q16 to be in the mid teens. $VAC expects both new marketing programs and sales centers to contribute 6-7 points of growth each in 4Q16.

$VAC {{ '2016-10-13T18:43:41+0000' | timeago}} • Webcast

$VAC said its new sales centers contributed almost $6MM of contract sales in line with expectations for 3Q16. The company opened its permanent sales center in Washington DC in the beginning of 3Q16 and also opened its onsite sales center in New York. In mid July, $VAC opened a sales center in San Diego. Performance in all centers is positive.

$VAC {{ '2016-10-13T18:35:34+0000' | timeago}} • Webcast

Orlando, Florida-based company $VAC said company contract sales were $169.8MM in 3Q16. In the company's North America and Asia Pacific segments, contract sales grew 8.3% QoverQ. In the Latin American channels, contract sales were down slightly. Activated tours from new marketing programs contributed over $8MM of contract sales growth.

$VAC {{ '2016-10-13T13:05:22+0000' | timeago}} • Announcement

$VAC still expects 2016 net income of $133-136MM and EPS of $4.69-4.79. The company narrowed its 2016 adjusted net income guidance to range $129-132MM from prior estimate of $126-136MM and its adjusted EPS outlook to range of $4.55-4.65 from prior forecast of $4.43-4.78.

$VAC {{ '2016-10-13T13:05:12+0000' | timeago}} • Announcement

$VAC's total company vacation ownership contract sales for 3Q16 grew 6.3% YoverY. These results were driven by higher contract sales in North America segment and in Asia Pacific segment. This is partially offset by lower contract sales in Europe segment as it continues to sell through the remaining developer inventory.

$VAC {{ '2016-10-13T12:57:40+0000' | timeago}} • Announcement

$VAC reported a 24.4% growth in 3Q16 earnings despite a decline in revenue. Net income rose to $26.81MM or $0.97 per share from $21.56MM or $0.67 per share last year. Revenue declined to $406.99MM from $407.14MM. Adjusted EPS increased to $0.96 from $0.82.

$VAC {{ '2016-10-13T12:56:21+0000' | timeago}} • Announcement

Vacation ownership developer $VAC reported a 24.4% growth in 3Q16 earnings driven by lower acquisition related costs, lower general and administrative costs, higher resort management and other services revenue, higher financing revenue and higher gains from disposition of portion of Surfers Paradise, Australia property.

$VAC {{ '2016-09-09T13:29:08+0000' | timeago}} • Announcement

$VAC's BoD authorized a quarterly cash dividend of $0.30 per common share. The dividend is payable on Oct. 6, 2016 to shareholders of record as of Sept. 22, 2016.

$VAC {{ '2016-08-17T19:36:58+0000' | timeago}} • Announcement

$VAC announced completion of a securitization of a pool of about $259MM of vacation ownership loans. About $207MM of the loans were purchased on Aug. 11, 2016 by the MVW Owner Trust 2016-1 and all or a portion of the remaining loans may be purchased by the Trust prior to Jan. 16, 2017.

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