ORLANDO, Fla., July 23, 2015 /PRNewswire/ -- Marriott Vacations Worldwide Corporation (NYSE: VAC) today reported second quarter 2015 financial results and provided updated guidance for the full year 2015.
Second quarter 2015 highlights:
- Adjusted fully diluted earnings per share (EPS) increased to $0.91, up 4.6 percent from $0.87 in the second quarter of 2014.
- Adjusted EBITDA totaled $57.7 million, an increase of $1.0 million, or 2 percent, year-over-year.
- North America contract sales were $150.6 million, up 3.4 percent year-over-year.
- North America tours increased 1.2 percent year-over-year.
- North America volume per guest (VPG) increased 0.6 percent year-over-year to $3,404.
- Company adjusted development margin was 21.0 percent and North America adjusted development margin was 23.0 percent.
- The company completed the sale of its undeveloped land in Kauai, Hawaii, for gross cash proceeds of $20 million.
- During the second quarter of 2015, the company repurchased $15 million of its common stock, bringing total 2015 repurchases through the end of the second quarter to $66.2 million.
- Subsequent to the end of the second quarter, the company purchased 71 units in The Mayflower Hotel, Autograph Collection in Washington, D.C.
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