Travel + Leisure Co. (TNL) reported third quarter 2024 results that showed continued solid demand for its vacation ownership products and services. The key highlights were:
The company's net income was $97 million, or $1.39 per diluted share, compared to $110 million, or $1.49 per diluted share in the prior year quarter. Adjusted EBITDA was $242 million, down 2% year-over-year but within its guidance range.
Revenue from the Vacation Ownership segment increased 2% year-over-year to $825 million. This was driven by a 5% increase in net vacation ownership interest (VOI) sales to $455 million, despite higher loan loss provisions.
Volume Per Guest (VPG), an important metric for vacation ownership sales efficiency, remained above $3,000 at $3,012. This was achieved on a 4% increase in tours year-over-year, with new owner tours up 9%.
The company reiterated its full-year 2024 adjusted EBITDA guidance of $915 million to $935 million. It expects fourth quarter adjusted EBITDA between $240 million and $260 million.
Travel + Leisure returned $105 million to shareholders through $35 million in dividends and $70 million in share repurchases during the quarter.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.