Marriott International (MAR) Q2 FY2026 earnings: revenue $7.1 billion, up 4.8% on the year

Marriott International Inc. (MAR) reported revenue of $7.1 billion for Q2 FY2026, the quarter ended 30 June 2026, up 4.8% on the same quarter a year earlier. Net income was $766 million, up 0.4% on the year, and diluted earnings per share $2.90. The figures are the company's own, from the 10-Q it filed with the SEC on 3 August 2026.

Revenue

$7.1 billion

+4.8% on the year · +6.3% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

17.4%

18.3% a year earlier

Q3 FY2024Q2 FY2026

Net income

$766 million

+0.4% on the year · +18.2% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$2.90

+4.3% on the year · +19.3% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 6 raised, 1 lowered, 7 new, 2 kept.

Adjusted diluted EPS rose to $3.19: Adjusted diluted EPS was $3.19 against $2.65 a year earlier. Reported diluted EPS was $2.90, against $2.78. Adjusted net income was $844 million, against $728 million.
Adjusted EBITDA up 13 percent: Adjusted EBITDA was $1,592 million, against $1,415 million a year earlier. First-half Adjusted EBITDA was $2,990 million, up 14 percent from the first half of 2025.
Worldwide RevPAR up 3.4 percent: Worldwide RevPAR rose 3.4 percent in constant dollars and 3.9 percent in actual dollars. Systemwide ADR rose 3.5 percent, while occupancy was down 0.1 points.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	7,071	6,654	6,744	+6.3%	+4.8%
Operating income	1,229	1,064	1,236	+15.5%	-0.6%
Operating margin	17.4%	16.0%	18.3%
Interest expense	221	214	203	+3.3%	+8.9%
Pre-tax income	1,044	858	1,054	+21.7%	-0.9%
Income tax	278	210	291	+32.4%	-4.5%
Effective tax rate	26.6%	24.5%	27.6%
Net income	766	648	763	+18.2%	+0.4%
Net margin	10.8%	9.7%	11.3%
Diluted EPS	$2.90	$2.43	$2.78	+19.3%	+4.3%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	948	858	643	+10.5%	+47.4%
Capital expenditure	152	130	155	+16.9%	-1.9%
Free cash flow	796	728	488	+9.3%	+63.1%
Free cash flow margin	11.3%	10.9%	7.2%
Cash from investing	-29.0	-149	-143
Cash from financing	-915	-612	-354
Share-based compensation	55.0	57.0	49.0	-3.5%	+12.2%
Buybacks	1,119	700	749	+59.9%	+49.4%
Dividends paid	192	178	183	+7.9%	+4.9%
Dividend per share	$0.73	$0.67	$0.67	+9.0%	+9.0%
Diluted shares, weighted	264m	267m	275m	-0.9%	-3.7%
Shares outstanding at period end	261m	264m	271m	-1.1%	-3.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	-4,525	-4,092	-2,964
Debt	16,915	16,530	15,655	+2.3%	+8.0%
Operating lease liabilities	859	876	881	-1.9%	-2.5%
Other liabilities	14,836	14,543	13,770	+2.0%	+7.7%
Total liabilities and equity	28,085	27,857	27,342	+0.8%	+2.7%
Fixed assets	1,837	1,962	1,890	-6.4%	-2.8%
Goodwill	8,876	8,873	8,896	+0.0%	-0.2%
Cash and equivalents	462	454	671	+1.8%	-31.1%
Other assets	16,910	16,568	15,885	+2.1%	+6.5%
Total assets	28,085	27,857	27,342	+0.8%	+2.7%

Questions

What was Marriott International's revenue in Q2 FY2026?

Marriott International (MAR) reported revenue of $7.1 billion for Q2 FY2026, the quarter ended 30 June 2026, up 4.8% on the same quarter a year earlier.

How much did Marriott International earn in Q2 FY2026?

Net income for Q2 FY2026 was $766 million, up 0.4% on the year, and diluted earnings per share $2.90.

When did Marriott International report Q2 FY2026 results?

Marriott International filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 3 August 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	4,446	4,199	5,338	5,313	5,923	5,615	6,075	5,928	6,095	5,977	6,439	6,255	6,429	6,263	6,744	6,489	6,690	6,654	7,071	7,005
Operating income	635	558	950	958	996	951	1,096	1,099	718	876	1,195	944	752	948	1,236	1,180	777	1,064	1,229	1,274
Operating margin	14%	13%	18%	18%	17%	17%	18%	19%	12%	15%	19%	15%	12%	15%	18%	18%	12%	16%	17%	18%
Interest expense	97.0	93.0	95.0	100	115	126	140	146	153	163	173	179	180	192	203	206	208	214	221	227
Pre-tax income	548	476	878	869	891	844	964	989	581	727	1,040	786	598	764	1,054	994	582	858	1,044	1,060
Tax rate	15%	21%	23%	28%	24%	10%	25%	24%	-46%	22%	26%	26%	24%	13%	28%	27%	24%	24%	27%	25%
Net income	468	377	678	630	673	757	726	752	848	564	772	584	455	665	763	728	445	648	766	794
Net margin	11%	9%	13%	12%	11%	13%	12%	13%	14%	9%	12%	9%	7%	11%	11%	11%	7%	10%	11%	11%
Diluted EPS	$1.42	$1.14	$2.06	$1.94	$2.12	$2.43	$2.38	$2.51	$2.87	$1.93	$2.69	$2.07	$1.63	$2.39	$2.78	$2.67	$1.65	$2.43	$2.90	$3.04
Operating cash flow	432	398	650	874	441	887	651	881	751	779	772	880	318	647	643	1,093	829	858	948	1,433
Capital expenditure	69.0	49.0	70.0	73.0	140	95.0	99.0	124	134	109	125	174	342	135	155	142	172	130	152	129
Free cash flow	363	349	580	801	301	792	552	757	617	670	647	706	-24.0	512	488	951	657	728	796	1,304
Buybacks	n/a	0.0	300	935	1,331	1,135	911	942	965	1,144	1,012	1,020	586	751	749	800	1,000	700	1,119	1,262
Dividends paid	0.0	0.0	98.0	97.0	126	124	157	154	152	151	179	176	176	174	183	182	179	178	192	189
Shares outstanding	326m	327m	325m	317m	311m	303m	298m	294m	291m	286m	282m	278m	277m	274m	271m	268m	266m	264m	261m	258m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 3 August 2026: the filing.