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Jun 30, 2024
Hilton Grand Vacations Q2 2024 Earnings Report
Hilton Grand Vacations' Q2 2024 results were impacted by sales challenges and a pullback in consumer spending, with revenue increasing but net income and EPS decreasing compared to the same period last year.
Key Takeaways
Hilton Grand Vacations reported a revenue increase to $1.235 billion, but experienced a decrease in net income to $2 million and a diluted EPS of $0.02. The company faced sales challenges and a pullback in consumer spending. Despite these challenges, the integration of Bluegreen Vacations remains on track, with solid underlying business fundamentals including a growing member base and increased geographic diversity.
Total revenues increased to $1.235 billion compared to $1.007 billion in the same period in 2023.
Net income attributable to stockholders decreased to $2 million from $80 million in the same period in 2023.
Diluted EPS decreased to $0.02 compared to $0.71 for the same period in 2023.
Adjusted EBITDA attributable to stockholders increased to $262 million compared to $248 million for the same period in 2023.
Hilton Grand Vacations
Hilton Grand Vacations
Forward Guidance
The Company is updating its guidance for the full year 2024 Adjusted EBITDA, excluding deferrals and recognitions, to a range of $1.075 billion to $1.135 billion, or a reduction of $125 million from its prior guidance range.