---
schema_version: "secwatch.filing_event.v1"
accession: "0001361658-25-000313"
form_type: "8-K"
ticker: "TNL"
cik: "0001361658"
company_name: "Travel & Leisure Co."
filed_at: "2025-10-22T23:59:59+00:00"
generated_at: "2026-05-17T02:42:18.211353+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Travel + Leisure Q3 net income $111M; raises FY adjusted EBITDA midpoint to $975M

## Summary
- Net income $111M ($1.67 diluted EPS) on $1.04B revenue; adjusted EPS $1.80, adjusted EBITDA $266M.
- Vacation Ownership revenue $876M (+6% YoY); VPG $3,304 (+10%), 18th straight quarter >$3,000.
- FY2025 adjusted EBITDA guidance raised to $965M-$985M (midpoint $975M) from $955M-$985M.
- Returned $106M to shareholders: $36M dividends ($0.56/sh) and $70M share repurchases (1.2M shares).
- Issued $500M secured notes at 6.125% to refinance $350M notes; closed $300M timeshare securitization.

## SEC filing metadata
- accession: 0001361658-25-000313
- form_type: 8-K
- ticker: TNL
- cik: 0001361658
- company_name: Travel & Leisure Co.
- filed_at: 2025-10-22T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1361658/000136165825000313/0001361658-25-000313-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1361658/000136165825000313/wyn-20251022.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001361658-25-000313
- JSON: https://secwatch.observer/filing/0001361658-25-000313.json
- Plain text: https://secwatch.observer/filing/0001361658-25-000313.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.