Travel + Leisure Q1 beats; raises FY2023 adjusted EBITDA guidance to $925-$945M

Travel & Leisure Co.

2023-Q1 EPS reported $0.81 revenue$879,000,000

Net income $64M ($0.81 EPS), revenue $879M (+9% YoY); adjusted EPS $0.89 (+29%).
Vacation Ownership revenue +12% to $685M, Adj EBITDA $131M (+25%) on higher tours.
Full year adj EBITDA guidance raised to $925-$945M from $920-$940M; Q2 guided $230-$240M.
Repurchased 2.5M shares for $102M; recommends $0.45 Q2 dividend.
Executed $250M term securitization post-quarter at 6.3% weighted average coupon.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Travel & Leisure Co. reported first quarter 2023 results: net income Net income of $64 million, EPS $0.81 diluted earnings per share. Guidance raised.

Period: first quarter 2023
Net income: Net income of $64 million
EPS: $0.81 diluted earnings per share
Guidance: raised
Result: reported results

Exact text from the filing

Travel + Leisure Co. Reports First Quarter 2023 Results and Increases Full Year 2023 Guidance ORLANDO, Fla. (April 26, 2023) — Travel + Leisure Co. (NYSE:TNL), the world’s leading membership and leisure travel company, today reported first quarter 2023 financial results for the three months ended March 31, 2023. Highlights and outlook include: • Net income of $64 million, $0.81 diluted earnings per share, on net revenue of $879 million • Adjusted EBITDA of $184 million and adjusted diluted earnings per share of $0.89 (1) • Increases expected full year adjusted EBITDA guidance to a range of $925 million to $945 million from $920 million to $940 million

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Source: SEC EDGAR

accession 0001361658-23-000128

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