Marriott Vacations Worldwide (VAC) Q1 FY2026 earnings: revenue $1.3 billion, up 4.8% on the year

Marriott Vacations Worldwide Corp. (VAC) reported revenue of $1.3 billion for Q1 FY2026, the quarter ended 31 March 2026, up 4.8% on the same quarter a year earlier. Net income was $22 million, down 60.7% on the year, and diluted earnings per share $0.64. The figures are the company's own, from the 10-Q it filed with the SEC on 5 May 2026.

Revenue$1.3 billionup 4.8%

Net income$22 milliondown 60.7%

Diluted EPS$0.64

QuarterQ1 FY2026ended 31 March 2026

The quarter, against the one before and a year earlier

Line	Q1 FY2026	Q4 FY2025	Q1 FY2025	Change on the year
Revenue	1,257	1,323	1,200	+4.8%
Operating income	88.0	-451	129	-31.8%
Operating margin	7.0%	-34.1%	10.8%
Income tax	23.0	-65.0	45.0	-48.9%
Net income	22.0	-431	56.0	-60.7%
Net margin	1.8%	-32.6%	4.7%
Diluted EPS	$0.64	n/a	$1.46	-56.2%

$ million except per share.

Fourth quarters are the year less the first three quarters. 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 and capital returned

Line	Q1 FY2026	Q4 FY2025	Q1 FY2025	Change on the year
Operating cash flow	-4.0	6.0	8.0	n/a
Capital expenditure	8.0	12.0	14.0	-42.9%
Free cash flow	-12.0	-6.0	-6.0	n/a
Free cash flow margin	-1.0%	-0.5%	-0.5%
Cash from investing	42.0	-13.0	-18.0	n/a
Cash from financing	-174	5.0	-32.0	n/a
Depreciation and amortisation	34.0	35.0	38.0	-10.5%
Share-based compensation	10.0	10.0	7.0	+42.9%
Buybacks	0.0	25.0	36.0	n/a
Dividends paid	55.0	0.0	55.0	+0.0%
Dividend per share	$0.80	$0.80	$0.79	+1.3%
Diluted shares, weighted	35m	35m	42m	-17.1%
Shares outstanding at period end	34m	34m	35m	-0.6%

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

Balance sheet at quarter end

Line	Q1 FY2026	Q4 FY2025	Q1 FY2025	Change on the year
Shareholders' equity	1,992	1,993	2,435	-18.2%
Non-controlling interest	0.0	0.0	0.0	n/a
Debt	3,096	3,363	2,984	+3.8%
Other liabilities	4,548	4,401	4,463	+1.9%
Total liabilities and equity	9,636	9,757	9,882	-2.5%
Goodwill	2,958	2,958	3,117	-5.1%
Intangible assets	696	711	775	-10.2%
Cash and equivalents	268	406	196	+36.7%
Other assets	5,714	5,682	5,794	-1.4%
Total assets	9,636	9,757	9,882	-2.5%

Questions

What was Marriott Vacations Worldwide's revenue in Q1 FY2026?

Marriott Vacations Worldwide (VAC) reported revenue of $1.3 billion for Q1 FY2026, the quarter ended 31 March 2026, up 4.8% on the same quarter a year earlier.

How much did Marriott Vacations Worldwide earn in Q1 FY2026?

Net income for Q1 FY2026 was $22 million, down 60.7% on the year, and diluted earnings per share $0.64.

When did Marriott Vacations Worldwide report Q1 FY2026 results?

Marriott Vacations Worldwide filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 5 May 2026.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,186	1,194	1,195	1,140	1,305	1,327	1,200	1,246	1,263	1,323	1,257	1,320
Operating income	105	102	137	102	148	103	129	112	33.0	-451	88.0	161
Operating margin	9%	9%	11%	9%	11%	8%	11%	9%	3%	-34%	7%	12%
Net income	42.0	35.0	47.0	37.0	84.0	50.0	56.0	69.0	-2.0	-431	22.0	77.0
Net margin	4%	3%	4%	3%	6%	4%	5%	6%	-0%	-33%	2%	6%
Diluted EPS	$1.09	$0.96	$1.22	$0.98	$2.12	$1.29	$1.46	$1.77	-$0.07	n/a	$0.64	$2.12
Operating cash flow	122	83.0	3.0	30.0	72.0	100	8.0	-48.0	62.0	6.0	-4.0	80.0
Capital expenditure	29.0	26.0	16.0	13.0	14.0	14.0	14.0	20.0	11.0	12.0	8.0	14.0
Free cash flow	93.0	57.0	-13.0	17.0	58.0	86.0	-6.0	-68.0	51.0	-6.0	-12.0	66.0
Buybacks	86.0	38.0	24.0	12.0	9.0	11.0	36.0	0.0	0.0	25.0	0.0	0.0
Dividends paid	0.0	26.0	54.0	27.0	0.0	26.0	55.0	28.0	27.0	0.0	55.0	27.0
Shares outstanding	36m	35m	35m	35m	35m	35m	35m	35m	35m	34m	34m	34m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	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. 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.

Source

10-Q for the period ended 31 March 2026, filed 5 May 2026, accession 0001524358-26-000022: the filing on EDGAR. All of Marriott Vacations Worldwide Corp.'s filings: EDGAR company page.

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