Hilton Grand Vacations reports Q3 EPS 98c, consensus 96c

Reports Q3 revenue $1.02B, consensus $1.06B. Total contract sales were $603M. The estimated value of the company’s total contract sales pipeline is $11.6B at current pricing. “I’m proud of the team’s resilience as we navigated several unique challenges this quarter, including the devastating wildfires in Maui and a modestly softer consumer macroeconomic environment,” said Mark Wang, president and CEO of Hilton Grand Vacations. “We started the quarter with a strong July, although growth decelerated as we moved through the quarter – particularly in August. Accordingly, we’re updating our full-year outlook to reflect a more moderate improvement in contract sales for the remainder of the year, along with the ongoing impact of limited Maui operations. We remain confident in our long-term strategy of driving tour flow and net owner growth to embed future value into the business and generate sustainable free cash flow.”