Shares of Hilton Grand Vacations Inc. (HGV) surged by 5.05% on Tuesday, November 7th, after the timeshare company reported solid third-quarter earnings and announced a significant securitization deal.
In its Q3 2024 earnings report, HGV posted adjusted earnings per share of $0.83, in line with analysts' expectations, and revenue of $1.306 billion, beating the estimated $1.282 billion. The company's performance was driven by continued strong demand for its vacation ownership products and services.
However, the highlight of the day was HGV's announcement of a $500 million securitization of timeshare loans. The company completed the issuance of three classes of Notes, with an overall weighted average coupon rate of 5.18% and an advance rate of 98%. The proceeds from this transaction will be used to pay down debt and for other general corporate purposes, strengthening HGV's financial position.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。