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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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