Marriott Posts EPS, Revenue Beat

Marriott International Inc. said late Wednesday it earned an adjusted $226 million, or 87 cents a share, in the first quarter, up from 73 cents a share in the year-ago period. Sales reached $3.8 billion in the quarter, up from $3.5 billion a year ago, the company said. Analysts polled by FactSet had expected adjusted earnings of 84 cents on sales of $3.7 billion for the hotel chain. The acquisition of Starwood Hotels & Resorts Worldwide is on track to close by midyear, Marriott said. Citing uncertainty with the Starwood's deal timing, the company said it was not providing 2016 EPS guidance. Shares of Marriott fell 0.3% in late trading after ending the regular session down 0.5%.