TSX runs higher on rate cut expectations
NEW YORK -On Wednesday, Travel + Leisure Co. (NYSE:TNL) reported fourth quarter earnings that topped analyst expectations, as the vacation ownership company saw continued strong demand for its timeshare products.
The stock edged up 0.09% following the results.
The Orlando-based company posted adjusted earnings per share of $1.72, beating the consensus estimate of $1.62. Revenue rose 4% YoY to $971 million, also surpassing analysts’ projections of $957.63 million.
"2024 was a tremendous year for the Company, as we met the high expectations for our performance by delivering strong top and bottom-line growth," said Michael D. Brown, President and CEO of Travel + Leisure Co.
Gross vacation ownership interest (VOI) sales increased 10% in Q4 to $591 million, driven by a 7% rise in volume per guest (VPG) and a 2% increase in tours. Net VOI sales jumped 11% to $456 million.
For the full year 2024, Travel + Leisure reported net income of $411 million on revenue of $3.9 billion. Adjusted EBITDA came in at $929 million.
Looking ahead, the company expects 2025 adjusted EBITDA between $955 million to $985 million. First quarter 2025 adjusted EBITDA is forecast at $195 million to $205 million.
Travel + Leisure also plans to recommend increasing its Q1 2025 dividend to $0.56 per share for board approval.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.