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Hilton Grand Vacations Q3 Earnings Surpass Street View – Hilton Grand Vacations (NYSE:HGV) – Stocks to Watch
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Hilton Grand Vacations Q3 Earnings Surpass Street View – Hilton Grand Vacations (NYSE:HGV)

ByShivani Kumaresan

Nov 9, 2022
Hilton Grand Vacations Q3 Earnings Surpass Street View - Hilton Grand Vacations (NYSE:HGV)

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  • Hilton Grand Vacations Inc HGV reported third-quarter FY22 sales growth of 20.2% year-on-year to $1.12 billion, beating the consensus of $929.14 million.

  • Real estate sales and financing segment revenues totaled $745 million, an increase of $86 million from last year.

  • Total contract sales in Q3 were $621 million.

  • Net Owner Growth (NOG) for the Legacy-HGV business for the 12 months ended September 30, 2022, was 3.8%.

  • The operating expenses rose 22.2% Y/Y to $879 million. EPS of $1.24 beat the consensus of $0.77.

  • Adjusted EBITDA for the quarter was $338 million.

  • The company held $744 million in cash and equivalents as of September 30, 2022.

  • HGV currently has $290 million remaining of the $500 million repurchase plan approved by the Board in May 2022.

  • Outlook: Hilton Grand Vacations raised its FY22 adjusted EBITDA, excluding deferrals and recognitions, forecast of $1.025 billion – $1.045 billion.

  • Price Action: HGV shares traded higher by 8.16% at $40.58 on the last check Wednesday.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Image and article originally from www.benzinga.com. Read the original article here.

Shivani Kumaresan

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