Hilton Grand Vacations Shares Slide Post Q1 Results; Plans Buyback

Hilton Grand Vacations Inc HGV reported first-quarter FY22 sales growth of 231.5% year-on-year, to $779 million, beating the consensus of $763.90 million.
Real Estate Sales and Financing segment revenues totaled $452 million, increasing $329 million from last year.
Total contract sales in Q1 were $509 million, 96% of Pro-forma combined Q1 2019 contract sales.
Net Owner Growth (NOG) for the Legacy-HGV business for the 12 months ended March 31, 2022, was 2.1%.
The operating expenses rose 190.2% Y/Y to $679 million. EPS of $0.42 missed the consensus of $0.64.
Adjusted EBITDA for the quarter was $202 million, with the adjusted EBITDA margin expanding from 17.9% to 25.9%.
The company held $817 million in cash and equivalents as of March 31, 2022.
The board of directors approved a two-year share repurchase program of $500 million of its outstanding shares of common stock.
Outlook: Hilton Grand Vacations raised the FY22 deferral adjusted EBITDA outlook to $960 million - $990 million from $915 million - $935 million.
Price Action: HGV shares traded lower by 3.41% at $42.21 on the last check Monday.

Momentum45.25

Growth28.89

QualityNot Available

Value27.79

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