HGV reports Q3 revenue decline & cuts FY guidance; acquires Bluegreen Vacations for ~$1.5B

Hilton Grand Vacations Inc.

Q3 revenue $1,018M (-9% YoY), net income $92M ($0.83 diluted EPS), adjusted EBITDA $269M (-20% YoY).
Acquires Bluegreen Vacations for $75/share all-cash (~$1.5B including net debt); expected close H1 2024.
Projected ~$100M annual cost synergies within 24 months; new 10-year exclusive marketing deal with Bass Pro Shops.
FY 2023 adjusted EBITDA guidance lowered to $1,000-1,020M from $1,090-1,120M, reflecting Maui wildfire impact ($17-20M).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Hilton Grand Vacations Inc. reported the quarter ended September 30, 2023 results: revenue $1,018 million, net income $92 million, EPS $0.83. Guidance lowered.

Period: the quarter ended September 30, 2023
Revenue: $1,018 million
Net income: $92 million
EPS: $0.83
Guidance: lowered
Result: reported results

Exact text from the filing

For the quarter ended Sept. 30, 2023, diluted EPS was $0.83 compared to $1.24 for the quarter ended Sept. 30, 2022. Net income and Adjusted EBITDA were $92 million and $269 million, respectively, for the quarter ended Sept. 30, 2023, compared to net income and Adjusted EBITDA of $150 million and $338 million, respectively, for the quarter ended Sept. 30, 2022. Total revenues for the quarter ended Sept. 30, 2023, were $1,018 million compared to $1,116 million for the quarter ended Sept. 30, 2022.

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Source: SEC EDGAR

accession 0001193125-23-270866

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