Marriott Vacations Worldwide Corporation (VAC) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Marriott Vacations Worldwide published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Marriott Vacations Worldwide reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Total revenues include cost reimbursements ($446 million this quarter), matched by an equal cost reimbursements expense. Revenues excluding cost reimbursements were $921 million, against $812 million.
• The year-ago quarter was a net loss, so its diluted share count of 34.9 million excludes convertible notes; adjusted EPS for that quarter uses 42.0 million diluted shares.

Source: Marriott Vacations Worldwide Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Marriott Vacations Worldwide splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Marriott Vacations Worldwide's Sale of vacation ownership products revenue was $459 million in Q3 2026, up 28% from $358 million in Q3 2025, 34% of total revenue.
• Marriott Vacations Worldwide's Management and exchange revenue was $212 million in Q3 2026, down 1% from $214 million in Q3 2025, 16% of total revenue.
• Marriott Vacations Worldwide's Rental revenue was $155 million in Q3 2026, up 3% from $150 million in Q3 2025, 11% of total revenue.
• Marriott Vacations Worldwide's Financing revenue was $95.0 million in Q3 2026, up 6% from $90.0 million in Q3 2025, 7% of total revenue.
• Marriott Vacations Worldwide's Cost reimbursements revenue was $446 million in Q3 2026, down 1% from $451 million in Q3 2025, 33% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The release sets out the full guidance as a table; the ranges are summarized in the expectations section below.

In its Q3 2026 release, Marriott Vacations Worldwide said:

“The Company raised the midpoint of its full-year Contract Sales and Adjusted EBITDA guidance to $2,130 million and $820 million, respectively.”

“The current guidance includes an estimated $16 million adverse impact to Adjusted EBITDA from Hurricane Lowell in Kauai.”

“As a result, the full year 2026 outlook is presented only on a non-GAAP basis and is not reconciled to the most comparable GAAP measures.”

Source: Marriott Vacations Worldwide Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the VAC forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted EPS attributable to common stockholders, each as first reported in that quarter's release.

We do not hold a confirmed date for Marriott Vacations Worldwide's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Marriott Vacations Worldwide reported total revenues of $1,367 million in Q3 2026, but $446 million of that was cost reimbursements. Revenues excluding cost reimbursements were $921 million, up 14% from $812 million. The largest line was the sale of vacation ownership products, $459 million against $358 million, followed by management and exchange ($212 million), rental ($155 million) and financing ($95 million). (Marriott Vacations Worldwide Q3 2026 release, Nov 4, 2026)

Contract sales, the value of timeshare contracts signed in the quarter, rose 29% to $565 million. Marriott Vacations Worldwide put the 30% rise in volume per guest, to $4,822, down to a higher average transaction size from better sales execution and the product and operational changes made in the second quarter. Total tours fell 2% to 107,687 because the company chose to prioritize profitability and cash flow in Asia-Pacific, while North America tours rose 4%. (Marriott Vacations Worldwide Q3 2026 release, Nov 4, 2026)

Not all contract sales become revenue at once. Marriott Vacations Worldwide recorded a sales reserve of $82 million, 14.8% of contract sales against 13.4% in the second quarter, because it originated an additional $60 million of receivables. Development profit nearly doubled to $142 million, a 31.0% margin against 20.2% a year earlier. (Marriott Vacations Worldwide Q3 2026 release, Nov 4, 2026)

Marriott Vacations Worldwide reports two segments. Vacation Ownership, which develops, sells and manages Marriott Vacation Club, Sheraton Vacation Club, Westin Vacation Club and Hyatt Vacation Club products, earned Segment Adjusted EBITDA of $255 million. Exchange & Third-Party Management, mainly Interval International, had revenues excluding cost reimbursements of $48 million, down 5% on lower exchange and transaction revenue, with 1,480 thousand active members. (Marriott Vacations Worldwide Q3 2026 release, Nov 4, 2026; Marriott Vacations Worldwide Form 10-K, 2025, Mar 2, 2026)

Rental profit fell because of higher inventory costs and the partial closure of five resorts in Kauai, Hawaii, damaged by Hurricane Lowell. The 10-Q puts the cost of closing the Sheraton Kauai hotel at $2 million in the quarter and expects about $6 million of lost rental profit in the fourth quarter. (Marriott Vacations Worldwide Q3 2026 release, Nov 4, 2026; Marriott Vacations Worldwide Form 10-Q, Q3 2026, Nov 4, 2026)

Marriott Vacations Worldwide earned GAAP diluted EPS of $2.24 in Q3 2026, against a loss of $0.07 a year earlier, and adjusted diluted EPS of $2.64, against $1.69. The year-ago GAAP loss included $53 million of modernization costs and a $31 million impairment, both of which the adjusted figure excludes. This quarter's exclusions were smaller: $10 million of restructuring and $6 million of modernization, less $3 million of gains and other income. (Marriott Vacations Worldwide Q3 2026 release, Nov 4, 2026)

Diluted shares were 38.6 million, including 3.1 million for the 2027 Convertible Notes, which carry a conversion price of $187.77. The year-ago figure of 34.9 million leaves those shares out because that quarter was a loss. Marriott Vacations Worldwide bought back no stock in the quarter and extended its remaining $322 million authorization to December 31, 2027. (Marriott Vacations Worldwide Form 10-Q, Q3 2026, Nov 4, 2026; Marriott Vacations Worldwide Q3 2026 release, Nov 4, 2026)

The effective tax rate was 27.8%, which the 10-Q attributes mainly to changes in uncertain tax positions and a lower estimated annual rate after a change in position to use foreign tax credits. A year earlier it was 537.8% on pretax income of only $1 million. (Marriott Vacations Worldwide Form 10-Q, Q3 2026, Nov 4, 2026; Marriott Vacations Worldwide Q3 2026 release, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Marriott Vacations Worldwide gives full-year guidance in its release, on a non-GAAP basis only. For 2026 it now expects contract sales of $2,120 to $2,140 million (previously $2,080 to $2,115), Adjusted EBITDA of $810 to $830 million (previously $805 to $830), adjusted EPS of $8.65 to $9.15 (previously $8.25 to $9.05) and adjusted free cash flow of $410 to $430 million (previously $410 to $460). (Marriott Vacations Worldwide Q3 2026 release, Nov 4, 2026)

The new ranges include an estimated $16 million hit to Adjusted EBITDA from Hurricane Lowell in Kauai. The guidance excludes asset sales, foreign currency, restructuring, litigation, modernization and impairments, and is not reconciled to GAAP. (Marriott Vacations Worldwide Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Marriott Vacations Worldwide, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Marriott Vacations Worldwide's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning VAC is on is VAC a buy or a sell?, what analysts expect next is on the VAC forecast, and what the company does is on the Marriott Vacations Worldwide Corporation (VAC) stock page.

Every number on this page can be traced to a document Marriott Vacations Worldwide published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.