Hilton Grand Vacations Stock Falls After Q3 Results

Hilton Grand Vacations Inc HGV reported third-quarter FY21 revenues of $928 million, compared to $208 million last year. Revenues were affected by a recognition of $241 million in the current period versus a deferral of $13 million last year.
Real estate sales and financing revenue totaled $659 million, increasing $543 million from last year.
Contract sales in the third quarter were $433 million, with Diamond contributing $143 million during the 59 days of HGV ownership.
. Net Owner Growth (NOG) for Legacy-HGV business in the 12 months ended September. 30, 2021 is 1.2%.
EPS for the quarter was $0.90. Total operating expenses rose 242.3% Y/Y to $719 million.
Adjusted EBITDA for the quarter was $340 million, with Legacy-HGV Adjusted EBITDA of $251 million.
The company held $564 million in cash and equivalents as of September 30, 2021.
Price Action: HGV shares traded lower by 1.98% at $53.08 on the last check Tuesday.