Hilton Grand Vacations Shares Slide On Q2 Earnings Miss

Hilton Grand Vacations Inc 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.

Momentum35.65

Growth28.99

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Value27.85

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