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Dec 31, 2024
Hilton Grand Vacations Q4 2024 Earnings Report
Reported strong revenue growth but lower net income and EPS due to deferral impacts.
Key Takeaways
Hilton Grand Vacations reported Q4 2024 revenue of $1.284 billion, up from $1.019 billion in the prior year. Net income attributable to stockholders was $20 million, a sharp decline from $68 million in Q4 2023, impacted by a $49 million net construction deferral. EPS dropped to $0.19 from $0.62, while adjusted EPS fell to $0.49 from $1.01. The company repurchased 3.2 million shares during the quarter for $125 million.
Total revenue increased 26% year-over-year, reaching $1.284 billion.
EPS fell to $0.19 due to construction deferrals and lower net income.
Real Estate Sales and Financing revenue grew by $178 million to $769 million.
The company repurchased 3.2 million shares for $125 million in Q4 2024.
Forward Guidance
Hilton Grand Vacations expects full-year 2025 Adjusted EBITDA of $1.125 billion to $1.165 billion, with increased share repurchases and an optimized securitization strategy.
Positive Outlook
- Full-year 2025 Adjusted EBITDA forecasted at $1.125B to $1.165B.
- Company plans to increase quarterly share repurchases to $150M.
- Significant cash flow expected from Financing Business Optimization.
- Strong inventory pipeline valued at $12.7B in sales potential.
- Continued momentum from Bluegreen Vacations acquisition.
Challenges Ahead
- Net income and EPS declined due to deferral impacts.
- Lower real estate profit margin at 21.7%, down from 32.9% last year.
- Financing profit margin dropped to 60.8% from 68.3%.
- International revenue remains a small portion of total revenue.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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