- Hilton Grand Vacations Inc (NYSE:HGV) reported second-quarter FY22 sales growth of 183.8% year-on-year to $948 million, missing the consensus of $951.36 million.
- Real estate sales and financing segment revenues totaled $586 million, an increase of $392 million from last year.
- Total contract sales in Q2 were $617 million.
- Net Owner Growth (NOG) for the Legacy-HGV business for the 12 months ended June 30, 2022, was 3.2%.
- The operating expenses rose 160% Y/Y to $801 million. EPS of $0.60 missed the consensus of $0.88.
- Adjusted EBITDA for the quarter was $273 million, with an adjusted EBITDA margin expanding Y/Y from 21.0% to 28.8%.
- The company held $666 million in cash and equivalents as of June 30, 2022.
- Outlook: Hilton Grand Vacations reiterated its FY22 deferral adjusted EBITDA forecast of $960 million – $990 million.
- Price Action: HGV shares traded lower by 3.21% at $41.59 on the last check Tuesday.
Earnings Outlook For Tesla
Tesla (NASDAQ:TSLA) is set to give its latest quarterly earnings report on Wednesday, 2023-04-19. Here’s what investors need…
