Travel + Leisure reports Q1 adjusted EPS 89c, consensus 78c

Reports Q1 revenue $879M, consensus $840.51M. "We reported a strong quarter which saw 9% year-over-year growth of net revenue and a 29% year-over-year growth of adjusted EPS, enabling us to beat our expectations," said Michael Brown, CEO. "With consumers continuing to prioritize travel, our outlook remains positive. Steady summer bookings as well as the continuing strength in VPG give us confidence to carry through the performance in Q1 to the full year and we are raising our outlook for adjusted EBITDA to a range of $925M-$945M."