ORLANDO, Fla. (Nov. 1, 2017) – Hilton Grand Vacations Inc. (NYSE:HGV) (“HGV” or the “Company”) today reported its third-quarter and nine-months 2017 results. Highlights include:
- EPS was $0.43 for the third quarter, a 22.9 percent increase from the same period in 2016.
- Net income for the third quarter was $43 million, a 22.9 percent increase from the same period in 2016.
- Adjusted EBITDA for the third quarter was $94 million, a 1.1 percent increase from the same period in 2016.
- Contract sales for the third quarter increased 6.5 percent from the same period in 2016.
- Net Owner Growth (NOG) for the 12 months ending Sept. 30, 2017, was 7.1 percent.
- Subsequent to the third quarter, the Company acquired the remaining inventory and other assets of Sunrise Lodge, a Hilton Grand Vacations Club, located in Park City, Utah.
- Pursuant to the Company’s effective shelf registration, HGV announced the pricing of 5.1 million secondary common shares, at a price per share of $35.91, by certain selling stockholders affiliated with The Blackstone Group L.P.