Marriott falls on Q3 profit forecast below estimates

Marriott expects third-quarter adjusted earnings per share to be in the range of $2.74 to $2.82, the midpoint of which is below analysts' estimates of $2.87 per share, according to data compiled by LSEG.

The company posted second-quarter revenue of $7.07 billion, missing estimates of $7.20 billion, while second-quarter adjusted earnings per share came in at $3.19, above estimates of $3.09.

As of the last close, the stock was up about 20% year to date.

Shares of hotel operator Marriott International were down 3.4% at $360 in premarket trading after the company forecast third-quarter profit below Wall Street expectations.

The company said loss of revenue due to the Middle East conflict overshadowed gains from the World Cup and summer travel demand.