Marriott Vacations Worldwide Corporation VAC reported preliminary first-quarter 2020 financial results and provided business update in the light of the coronavirus pandemic. Following the news, the company’s shares declined 2.4% on May 6.The company expects adjusted earnings per share to improve 48% to $2.15. Notably, the Zacks Consensus Estimate for the quarter is currently pegged at $2.15. The company expects revenues to be $1,010 million, down 2%.Preliminary Segmental ResultsVacation Ownership: The company expects revenues excluding cost reimbursements to decrease 8% year over year owing to decline in consolidated vacation ownership contract sales and lower-than-expected rental revenues. Contract sales and rental revenues have been hurt by the coronavirus.The segment’s adjusted EBITDA is expected to decrease 15% to $147 million in the first quarter.Exchange & Third-Party Management: The segment’s revenues are anticipated to decline 14% in the first quarter. While interval International average revenue per member fell 11% to $41.37 year over year, members decreased 3% to 1.6 million. The segment’s adjusted EBITDA decreased 24% to $41 million.Corporate and Other resultsThe segment, which primarily consists of general and administrative costs, decreased $10 million in first-quarter 2020 due to synergy savings and decline in compensation related expenses. This was marginally overshadowed by normal inflationary cost increases.Expenses & EBITDATotal expenses in the quarter are anticipated in the range of $1,065 million to $985 million, compared with $943 million in the prior-year quarter. The company’s expect adjusted EBITDA to decline 17% to $138 million.Balance SheetCash and cash equivalents, as of Mar 31, 2020, was $651 million. Inventory was $846 million. The company had $4.7 billion in debt outstanding (net of unamortized debt issuance costs) at the end of the first quarter, up $0.6 billion from year-end 2019.Coronavirus UpdateThe company has closed sales centers and branded resorts for rental guests with stays at branded resorts through the end of May. Moreover, the company has reduced executive salaries by 50%. It has also furloughed 65% of associates and reduced work weeks by nearly 25%, for remaining associates.Marriott Vacations, which shares space with Choice Hotels CHH, Hilton HLT and Hyatt Hotels Corporation H, has a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Choice Hotels International Inc (CHH): Free Stock Analysis Report Hyatt Hotels Corporation (H): Free Stock Analysis Report Marriot Vacations Worldwide Corporation (VAC): Free Stock Analysis Report Hilton Worldwide Holdings Inc (HLT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research