Marriott Vacations Worldwide Corporation VAC reported mixed results for the second quarter of 2019, wherein earnings surpassed the Zacks Consensus Estimate but revenues lagged the same. This marked the second consecutive quarter of revenue miss for the company.Adjusted earnings of $1.99 per share surpassed the consensus estimate of $1.75 by 13.7% and increased 25.2% year over year.Quarterly revenues were $1,068 million, which lagged the consensus estimate of $1,114 million but increased 79.5% from the year-ago quarter. The upside can be attributed to revenue growth across segments.The company stated that its ILG integration process is continuing well and is likely to drive additional growth opportunities in the quarters to come.Segmental PerformancesMarriott Vacations operates business under two major segments — Vacation Ownership (89% of total revenues in the second quarter of 2019) and Exchange & Third-Party Management (11%).Vacation OwnershipConsolidated Vacation Ownership contract sales totaled $386 million, reflecting 66% year-over-year growth. While Legacy-MVW contract sales amounted to $246 million, up 6% year over year; Legacy-MVW North America VPG sales rose 1% to $3,700.Rental revenues in the second quarter were $141 million, up 90.5% from the second quarter of 2018.The segment’s adjusted EBITDA increased 16% year over year to $208 million in the second quarter of 2019 and margin improved 230 basis points from the year-ago quarter, excluding cost reimbursements.Exchange & Third-Party ManagementManagement and exchange revenues totaled $115 million in the quarter. Total Interval Network active members were 1.7 million at the end of the quarter and average revenue per member was $43.23.The segment’s adjusted EBITDA was $58 million, down 5% year over year.Marriot Vacations Worldwide Corporation Price, Consensus and EPS Surprise Marriot Vacations Worldwide Corporation price-consensus-eps-surprise-chart | Marriot Vacations Worldwide Corporation QuoteExpenses & EBITDATotal expenses in the second quarter amounted to $925 million, up 69.4% year over year. The surge in expenses resulted from an increase in the cost of vacation ownership products as well as high rental, financing and administrative costs. Increased marketing and sales expenses along with management and exchange costs affected total costs. The company’s adjusted EBITDA in the second quarter of 2019 was $195 million, marking a whopping 157% rise from the year-ago quarter.Balance SheetCash and cash equivalents, as of Jun 30, 2019, was $179 million compared with $231 million as of 2018 end. Inventory declined to $828 million from $863 million by 2018 end. The company had $3.9 billion in debt outstanding (net of unamortized debt issuance costs) at the end of the second quarter.2019 OutlookFor 2019, the company expects adjusted earnings of $7.65-$8.14 per share, up from the previously mentioned $7.33-$7.94. The Zacks Consensus Estimate for earnings is pegged at $7.68 for the year, above the midpoint of the company’s guided range. Adjusted EBITDA is projected to be between $750 million and $780 million.Zacks Rank & Stocks to ConsiderMarriott Vacations currently has a Zacks Rank #4 (Sell). Some better-ranked stocks in the same space include Huazhu Group HTHT, Peak Resorts SKIS and Wyndham Destinations WYND, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Wyndham’s earnings for 2019 are expected to increase 14.9%. Peak Resorts and Huazhu Group’s earnings for the next fiscal year are expected to rise 45.5% and 37%, respectively.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Marriot Vacations Worldwide Corporation (VAC): Free Stock Analysis Report Peak Resorts, Inc. (SKIS): Free Stock Analysis Report China Lodging Group, Limited (HTHT): Free Stock Analysis Report WYNDHAM DESTINATIONS, INC. (WYND): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research