Hilton Grand Vacations reports first-quarter 2019 results

May 1, 2019

ORLANDO, Fla. (May 1, 2019) – Hilton Grand Vacations Inc. (NYSE:HGV) (“HGV” or “the Company”) today reports its first-quarter 2019 results. Highlights include:

 

KEY HIGHLIGHTS

 

First-Quarter 2019 Results


  • Total revenues for the first quarter were $450 million compared to $367 million for the same period in 2018.
  • Net income for the first quarter was $55 million compared to $30 million for the same period in 2018.
  • Diluted EPS for the first quarter was $0.58 compared to $0.30 for the same period in 2018.
  • Adjusted EBITDA for the first quarter was $102 million compared to $62 million for the same period in 2018.
  • Contract sales in the first quarter were $322 million, a decrease of 2.1% from the same period in 2018.
  • Net Owner Growth (NOG) for the 12 months ended March 31, 2019, was 6.7%.
  • Completed the initial $200 million share repurchase authorization announced in November 2018, repurchasing 3.0 million shares in the first quarter for $97 million and an additional 0.9 million shares for $30 million through April 30, 2019.
  • Comparability of first quarter 2019 and 2018 results is affected by net construction-related deferrals of $37 million in the first quarter of 2018.

Outlook

 

  • Net income is now projected to be between $240 million and $255 million, reflecting lower Adjusted EBITDA, higher interest expense primarily driven by borrowings used to fund share repurchases and an increase in share-based compensation expense.
  • Diluted EPS is now projected to be between $2.61 and $2.77.
  • Full-year 2019 contract sales are expected to increase from 5.0% to 8.0% due to softer than anticipated contract sales growth in the first quarter and a project timing shift.
  • Adjusted EBITDA is projected to be between $445 million and $465 million reflecting current inventory mix and a project timing shift.
  • Adjusted free cash flow is projected to be between $60 and $120 million, unchanged from prior outlook.
  • The revised 2019 outlook does not reflect any additional share repurchases or construction-related deferrals or recognitions.

 

View the full release

 

Hilton Grand Vacations Q1 2019 Earnings

 

View as PDF

Search News

Media Kit

Media Contact

L‍auren George
Senior Manager, External Communications
Hilton Grand Vacations

P: 1-407-613-8431 
E: [email protected]

X
Cookies help us improve your website experience.
By using our website, you agree to our use of cookies.
Confirm