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Mar 31, 2023
Travel + Leisure Q1 2023 Earnings Report
Reported strong first quarter with revenue growth and increased full year guidance.
Key Takeaways
Travel + Leisure Co. reported a strong first quarter in 2023, with a 9% year-over-year increase in net revenue and a 29% year-over-year growth in adjusted EPS. The company's performance exceeded expectations, leading to an increase in the full-year adjusted EBITDA guidance. The company is raising its outlook for adjusted EBITDA to a range of $925 to $945 million.
Net income was $64 million, with $0.81 diluted earnings per share, on net revenue of $879 million.
Adjusted EBITDA reached $184 million and adjusted diluted earnings per share was $0.89.
Full year adjusted EBITDA guidance was increased to a range of $925 million to $945 million from $920 million to $940 million.
2.5 million shares of common stock were repurchased for $102 million, representing 3% of shares outstanding at year-end 2022.
Travel + Leisure
Travel + Leisure
Travel + Leisure Revenue by Segment
Revenue by Segment
Vacation Ownership Revenue
CapyFin.comTravel & Membership Revenue
CapyFin.com Forward Guidance
The Company is updating guidance regarding expectations for the 2023 full year and is providing guidance regarding expectations for the second quarter 2023.
Positive Outlook
- Adjusted EBITDA of $925 million to $945 million from $920 million to $940 million
- Gross VOI sales of $2.1 billion to $2.2 billion
- VPG of approximately $3,050 to $3,150
- Adjusted EBITDA of $230 million to $240 million for the second quarter 2023
- Gross VOI sales of $550 million to $560 million for the second quarter 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income