Subtext

Marriott International, Inc. MAR

SectorConsumer Discretionary
Transcripts73
Date range2007-02-01 – 2025-05-06
Calls charted71

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-19-9+0+9+192007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22007 Q3 · Overall: +2.42007 Q4 · Overall: +5.42008 Q1 · Overall: +6.72008 Q2 · Overall: -3.32008 Q3 · Overall: -4.72008 Q4 · Overall: -6.42009 Q1 · Overall: -6.12009 Q2 · Overall: -6.02009 Q3 · Overall: -1.02009 Q4 · Overall: +2.62010 Q1 · Overall: +10.62010 Q2 · Overall: +7.72010 Q3 · Overall: +9.02010 Q4 · Overall: +5.72011 Q1 · Overall: +4.82011 Q2 · Overall: +4.62011 Q3 · Overall: +0.62011 Q4 · Overall: +2.92012 Q1 · Overall: +9.72012 Q2 · Overall: +0.22012 Q3 · Overall: +3.92012 Q4 · Overall: +4.12013 Q1 · Overall: +4.12013 Q2 · Overall: +1.92013 Q3 · Overall: -1.02013 Q4 · Overall: +3.12014 Q1 · Overall: +1.32014 Q2 · Overall: +3.52014 Q3 · Overall: +5.62014 Q4 · Overall: +7.72015 Q1 · Overall: +7.72015 Q2 · Overall: +6.32015 Q3 · Overall: +2.02015 Q4 · Overall: +4.52016 Q1 · Overall: +2.72016 Q2 · Overall: +4.52016 Q3 · Overall: +6.12016 Q4 · Overall: +6.42017 Q1 · Overall: +11.12017 Q2 · Overall: +10.52017 Q3 · Overall: +7.12017 Q4 · Overall: +9.22018 Q1 · Overall: +10.32018 Q2 · Overall: +5.82018 Q3 · Overall: +7.42018 Q4 · Overall: +2.62019 Q1 · Overall: +4.52019 Q2 · Overall: +4.52019 Q3 · Overall: +4.82019 Q4 · Overall: +3.92020 Q1 · Overall: -1.12020 Q2 · Overall: +1.92020 Q3 · Overall: +3.02020 Q4 · Overall: +7.22021 Q1 · Overall: +10.42021 Q2 · Overall: +16.32021 Q3 · Overall: +9.12021 Q4 · Overall: +9.42022 Q1 · Overall: +8.92022 Q2 · Overall: +8.62022 Q3 · Overall: +9.62022 Q4 · Overall: +8.82023 Q1 · Overall: +10.32023 Q2 · Overall: +12.52023 Q3 · Overall: +11.32023 Q4 · Overall: +10.92024 Q1 · Overall: +3.82024 Q2 · Overall: +11.02024 Q3 · Overall: +9.82024 Q4 · Overall: +9.52025 Q1 · Overall: +6.7
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-28-14+0+14+282007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22008 Q1 · CEO: +10.42008 Q2 · CEO: +1.32008 Q4 · CEO: +2.62009 Q4 · CEO: +11.42010 Q3 · CEO: +16.32010 Q4 · CEO: +13.72011 Q2 · CEO: +7.72011 Q4 · CEO: +11.62012 Q2 · CEO: +4.62012 Q3 · CEO: +9.42012 Q4 · CEO: +8.52013 Q1 · CEO: +6.52013 Q2 · CEO: +5.92013 Q3 · CEO: +3.92013 Q4 · CEO: +7.82014 Q1 · CEO: +7.02014 Q2 · CEO: +6.82014 Q3 · CEO: +8.62015 Q1 · CEO: +15.82015 Q2 · CEO: +12.02016 Q1 · CEO: +3.82016 Q2 · CEO: +8.12017 Q1 · CEO: +16.92017 Q2 · CEO: +14.52017 Q3 · CEO: +6.72018 Q1 · CEO: +13.22018 Q2 · CEO: +8.52018 Q4 · CEO: +7.62019 Q1 · CEO: +6.22019 Q3 · CEO: +7.32020 Q3 · CEO: +2.52021 Q1 · CEO: +13.12021 Q2 · CEO: +18.52021 Q3 · CEO: +11.02021 Q4 · CEO: +10.02022 Q1 · CEO: +11.52022 Q2 · CEO: +9.12022 Q3 · CEO: +11.72022 Q4 · CEO: +15.12023 Q1 · CEO: +19.92023 Q2 · CEO: +17.22023 Q3 · CEO: +15.22023 Q4 · CEO: +19.52024 Q1 · CEO: +10.02024 Q2 · CEO: +22.52024 Q3 · CEO: +20.52024 Q4 · CEO: +21.32025 Q1 · CEO: +14.82007 Q3 · CFO: +5.12007 Q4 · CFO: +7.52008 Q1 · CFO: +2.42008 Q2 · CFO: -0.42008 Q3 · CFO: -2.32008 Q4 · CFO: -4.42009 Q1 · CFO: +3.62009 Q2 · CFO: -12.92009 Q3 · CFO: -6.72009 Q4 · CFO: -1.02010 Q1 · CFO: +12.12010 Q2 · CFO: +17.82010 Q3 · CFO: +1.52010 Q4 · CFO: +0.42011 Q1 · CFO: +2.62011 Q2 · CFO: +6.12011 Q3 · CFO: +4.12011 Q4 · CFO: -1.82012 Q1 · CFO: +15.92012 Q2 · CFO: +7.02012 Q3 · CFO: +6.22012 Q4 · CFO: +4.52013 Q1 · CFO: +8.52013 Q2 · CFO: +0.52013 Q3 · CFO: -0.82013 Q4 · CFO: +4.22014 Q1 · CFO: +2.72014 Q3 · CFO: +9.92015 Q1 · CFO: +6.32015 Q2 · CFO: +5.02016 Q1 · CFO: +7.12016 Q2 · CFO: +6.92016 Q3 · CFO: +8.42016 Q4 · CFO: +6.92017 Q1 · CFO: +6.52017 Q2 · CFO: +11.52017 Q3 · CFO: +12.42017 Q4 · CFO: +9.12018 Q1 · CFO: +9.22018 Q2 · CFO: +1.82018 Q3 · CFO: +8.92018 Q4 · CFO: -4.42019 Q1 · CFO: +5.22019 Q2 · CFO: +2.82019 Q3 · CFO: +3.22019 Q4 · CFO: +8.02020 Q1 · CFO: +2.22020 Q2 · CFO: +3.02020 Q3 · CFO: +5.42020 Q4 · CFO: +10.02021 Q2 · CFO: +24.22021 Q4 · CFO: +14.72022 Q1 · CFO: +14.22022 Q2 · CFO: +15.92022 Q3 · CFO: +15.02022 Q4 · CFO: +12.32023 Q1 · CFO: +8.92023 Q2 · CFO: +19.32023 Q4 · CFO: +11.32024 Q1 · CFO: +10.52024 Q2 · CFO: +12.22024 Q3 · CFO: +6.12024 Q4 · CFO: +7.12025 Q1 · CFO: +1.2
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-37-18+0+18+372007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22007 Q3 · Prepared remarks: +11.02007 Q4 · Prepared remarks: +16.32008 Q1 · Prepared remarks: +6.52008 Q2 · Prepared remarks: -2.62008 Q3 · Prepared remarks: -3.62008 Q4 · Prepared remarks: -1.22009 Q1 · Prepared remarks: -6.82009 Q2 · Prepared remarks: -4.32009 Q3 · Prepared remarks: -1.22009 Q4 · Prepared remarks: +4.32010 Q1 · Prepared remarks: +10.62010 Q2 · Prepared remarks: +22.12010 Q3 · Prepared remarks: +14.32010 Q4 · Prepared remarks: +7.22011 Q1 · Prepared remarks: +11.02011 Q2 · Prepared remarks: +7.42011 Q3 · Prepared remarks: +5.62011 Q4 · Prepared remarks: +5.12012 Q1 · Prepared remarks: +21.32012 Q2 · Prepared remarks: +10.82012 Q3 · Prepared remarks: +14.22012 Q4 · Prepared remarks: +6.82013 Q1 · Prepared remarks: +7.22013 Q2 · Prepared remarks: +2.02013 Q3 · Prepared remarks: +2.12013 Q4 · Prepared remarks: +8.62014 Q1 · Prepared remarks: +7.42014 Q2 · Prepared remarks: +9.72014 Q3 · Prepared remarks: +11.52014 Q4 · Prepared remarks: +16.52015 Q1 · Prepared remarks: +12.32015 Q2 · Prepared remarks: +12.22015 Q3 · Prepared remarks: +12.22015 Q4 · Prepared remarks: +3.92016 Q1 · Prepared remarks: +11.32016 Q2 · Prepared remarks: +7.22016 Q3 · Prepared remarks: +10.32016 Q4 · Prepared remarks: +12.72017 Q1 · Prepared remarks: +18.02017 Q2 · Prepared remarks: +16.12017 Q3 · Prepared remarks: +9.82017 Q4 · Prepared remarks: +13.72018 Q1 · Prepared remarks: +15.92018 Q2 · Prepared remarks: +13.32018 Q3 · Prepared remarks: +8.62018 Q4 · Prepared remarks: +2.12019 Q1 · Prepared remarks: +6.62019 Q2 · Prepared remarks: +6.72019 Q3 · Prepared remarks: +10.62019 Q4 · Prepared remarks: +13.02020 Q1 · Prepared remarks: +3.52020 Q2 · Prepared remarks: +5.12020 Q3 · Prepared remarks: +10.92020 Q4 · Prepared remarks: +10.32021 Q1 · Prepared remarks: +19.52021 Q2 · Prepared remarks: +24.62021 Q3 · Prepared remarks: +13.72021 Q4 · Prepared remarks: +16.92022 Q1 · Prepared remarks: +15.32022 Q2 · Prepared remarks: +12.72022 Q3 · Prepared remarks: +22.22022 Q4 · Prepared remarks: +20.92023 Q1 · Prepared remarks: +15.32023 Q2 · Prepared remarks: +24.82023 Q3 · Prepared remarks: +12.62023 Q4 · Prepared remarks: +20.52024 Q1 · Prepared remarks: +32.12024 Q2 · Prepared remarks: +18.42024 Q3 · Prepared remarks: +16.72024 Q4 · Prepared remarks: +18.32025 Q1 · Prepared remarks: +7.02007 Q3 · Q&A responses: +0.02007 Q4 · Q&A responses: +1.12008 Q2 · Q&A responses: -0.92008 Q3 · Q&A responses: -2.22008 Q4 · Q&A responses: -9.62009 Q1 · Q&A responses: +0.02009 Q2 · Q&A responses: -4.92009 Q3 · Q&A responses: +0.72009 Q4 · Q&A responses: +7.42010 Q1 · Q&A responses: +9.82010 Q2 · Q&A responses: +4.22010 Q3 · Q&A responses: -3.32010 Q4 · Q&A responses: +11.22011 Q1 · Q&A responses: +4.82011 Q2 · Q&A responses: +5.02011 Q3 · Q&A responses: +0.32011 Q4 · Q&A responses: +1.82012 Q1 · Q&A responses: +10.32012 Q2 · Q&A responses: +0.22012 Q3 · Q&A responses: +2.92012 Q4 · Q&A responses: +4.32013 Q1 · Q&A responses: +4.72013 Q2 · Q&A responses: +4.62013 Q3 · Q&A responses: +0.62013 Q4 · Q&A responses: -0.62014 Q1 · Q&A responses: +1.82014 Q2 · Q&A responses: +3.32014 Q3 · Q&A responses: +2.92014 Q4 · Q&A responses: +3.82015 Q1 · Q&A responses: +12.12015 Q2 · Q&A responses: +8.32015 Q3 · Q&A responses: -0.52015 Q4 · Q&A responses: +7.12016 Q1 · Q&A responses: +1.12016 Q2 · Q&A responses: +7.92016 Q3 · Q&A responses: +6.52016 Q4 · Q&A responses: +7.12017 Q1 · Q&A responses: +12.02017 Q2 · Q&A responses: +12.32017 Q3 · Q&A responses: +7.92017 Q4 · Q&A responses: +11.32018 Q1 · Q&A responses: +9.42018 Q2 · Q&A responses: +4.72018 Q3 · Q&A responses: +8.92018 Q4 · Q&A responses: +5.52019 Q1 · Q&A responses: +5.52019 Q2 · Q&A responses: +5.62019 Q3 · Q&A responses: +4.02019 Q4 · Q&A responses: -0.22020 Q1 · Q&A responses: -2.32020 Q2 · Q&A responses: +2.42020 Q3 · Q&A responses: -0.32020 Q4 · Q&A responses: +7.32021 Q1 · Q&A responses: +5.02021 Q2 · Q&A responses: +17.22021 Q3 · Q&A responses: +9.02021 Q4 · Q&A responses: +9.52022 Q1 · Q&A responses: +11.12022 Q2 · Q&A responses: +11.72022 Q3 · Q&A responses: +5.72022 Q4 · Q&A responses: +7.52023 Q1 · Q&A responses: +12.82023 Q2 · Q&A responses: +12.72023 Q3 · Q&A responses: +16.32023 Q4 · Q&A responses: +11.72024 Q1 · Q&A responses: +9.12024 Q2 · Q&A responses: +15.22024 Q3 · Q&A responses: +11.22024 Q4 · Q&A responses: +11.6
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$1.52$6.23$10.942007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22014 Q1: $2.522014 Q2: $2.682014 Q3: $2.852014 Q4: $3.042015 Q1: $3.232015 Q2: $3.422015 Q3: $3.632015 Q4: $3.782016 Q1: $3.882016 Q2: $4.012016 Q3: $4.082016 Q4: $4.032017 Q1: $4.072017 Q2: $4.382017 Q3: $4.582017 Q4: $4.842018 Q1: $5.572018 Q2: $5.982018 Q3: $6.302018 Q4: $6.362019 Q1: $6.342019 Q2: $6.522019 Q3: $6.532019 Q4: $6.522020 Q1: $5.552020 Q2: $2.272020 Q3: $2.172020 Q4: $2.472021 Q1: $2.582021 Q2: $3.442021 Q3: $4.582021 Q4: $5.342022 Q1: $5.842022 Q2: $6.682022 Q3: $7.342022 Q4: $7.602023 Q1: $7.962023 Q2: $8.722023 Q3: $9.312023 Q4: $9.672024 Q1: $9.772024 Q2: $10.162024 Q3: $10.29

Forward P/E

7.5835.9464.302007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22014 Q1: 21.542014 Q2: 23.552014 Q3: 25.152014 Q4: 25.242015 Q1: 25.752015 Q2: 22.552015 Q3: 20.042015 Q4: 17.772016 Q1: 18.382016 Q2: 16.372016 Q3: 16.812016 Q4: 20.832017 Q1: 21.582017 Q2: 23.752017 Q3: 23.312017 Q4: 26.542018 Q1: 25.392018 Q2: 23.142018 Q3: 20.832018 Q4: 16.732019 Q1: 18.962019 Q2: 20.812019 Q3: 19.942019 Q4: 22.942020 Q1: 11.492020 Q2: 40.152020 Q3: 49.602020 Q4: 52.812021 Q1: 60.392021 Q2: 41.692021 Q3: 31.622021 Q4: 28.312022 Q1: 29.512022 Q2: 23.162022 Q3: 22.142022 Q4: 20.962023 Q1: 19.892023 Q2: 20.802023 Q3: 21.512023 Q4: 22.552024 Q1: 25.732024 Q2: 23.922024 Q3: 23.19

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2015 Q3 tone ↓ -4.3 fwd EPS ↑ +0.22 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q3 tone ↓ -3.4 fwd EPS ↑ +0.21 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q2 tone ↓ -4.4 fwd EPS ↑ +0.41 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +3.0 fwd EPS ↓ -3.28 Tone rose while the forward EPS estimate was cut.
  • 2021 Q3 tone ↓ -7.2 fwd EPS ↑ +1.14 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -7.1 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-06+6.7——View →
2024 Q42025-02-11+9.5——View →
2024 Q32024-11-04+9.8$10.2923.2View →
2024 Q22024-07-31+11.0$10.1623.9View →
2024 Q12024-05-01+3.8$9.7725.7View →
2023 Q42024-02-13+10.9$9.6722.6View →
2023 Q32023-11-02+11.3$9.3121.5View →
2023 Q22023-08-01+12.5$8.7220.8View →