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Sep 30, 2022
Hilton Grand Vacations Q3 2022 Earnings Report
Hilton Grand Vacations reported record results, driven by strong performance in Real Estate Sales and Financing, and Resort Operations and Club Management. The company achieved its cost synergy target ahead of schedule and returned a significant amount of capital to shareholders.
Key Takeaways
Hilton Grand Vacations Inc. (HGV) reported a strong third quarter in 2022, with total revenues of $1,116 million compared to $928 million in the same period in 2021. Net income increased to $150 million, compared to $99 million in the prior year. Adjusted EBITDA was $338 million. The company is raising its 2022 guidance for Adjusted EBITDA excluding deferrals and recognitions to be in a range of $1,025 million to $1,045 million.
Total contract sales were $621 million.
Member count was 515,000.
Net income for the third quarter was $150 million compared to $99 million net income for the same period in 2021.
The Company has achieved a targeted $150 million of run-rate cost synergies in only 14 months following the completion of the Diamond Acquisition.
Forward Guidance
The Company is raising its 2022 guidance for Adjusted EBITDA excluding deferrals and recognitions to be in a range of $1,025 million to $1,045 million.
Historical Earnings Impact
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