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Mar 31, 2022
Hilton Grand Vacations Q1 2022 Earnings Report
Reported record results for the first quarter, raised full year outlook and cost synergy target, and announced share repurchase program.
Key Takeaways
Hilton Grand Vacations reported record first quarter results with total revenues of $779 million and net income of $51 million. The company raised its full year outlook and cost synergy target, and announced a share repurchase program.
Total contract sales in the first quarter were $509 million, 96% of pro-forma combined Q1 2019 contract sales.
Member count increased for the seventh straight quarter. Diamond added nearly 1,600 net new members in the quarter.
Total revenues for the first quarter were $779 million compared to $235 million for the same period in 2021.
Net income for the first quarter was $51 million compared to ($7) million net loss for the same period in 2021.
Hilton Grand Vacations
Hilton Grand Vacations
Forward Guidance
The Company is raising its Deferral Adjusted EBITDA range to $960 million to $990 million, from the prior range of $915 million to $935 million.