Travel + Leisure Co. Reports Q3 Earnings

NEW YORK – Travel + Leisure Co. (NYSE:TNL) reported third quarter earnings that surpassed analyst expectations, while revenue fell slightly short of estimates. The vacation ownership and membership travel company also narrowed its full-year sales guidance.

Financial Highlights

• Adjusted Earnings Per Share: $1.57 for Q3, beating the consensus of $1.47.
• Revenue: $993 million, below expectations of $1.01 billion but up 0.7% year-over-year.
• Net Income: $97 million, or $1.39 per diluted share, compared to $110 million, or $1.49 per share, in the same period last year.

CEO Insights

"Our results this quarter show that we are executing well against our key priorities for the year and that demand for our products remains solid," said Michael D. Brown, President and CEO of Travel + Leisure Co.

Segment Performance

• Vacation Ownership Revenue: Increased 2% to $825 million, driven by a 5% rise in net vacation ownership interest sales.
• Tours: Up 4% compared to last year, though volume per guest decreased 3% to $3,012.

2024 Guidance

For the full year 2024, Travel + Leisure narrowed its gross VOI sales guidance to $2.25-$2.30 billion, compared to its previous outlook of $2.25-$2.35 billion. It maintained its adjusted EBITDA forecast of $915-$935 million.

Shareholder Return

The company returned $105 million to shareholders in Q3 through $35 million in dividends and $70 million in share repurchases.

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