EarningsQ2 2026 Earnings Report

Hilton Grand Vacations (HGV) Q2 2026 Earnings Report

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Previous Report: Q1 2026

MX:HGV Q2 2026 EPS Results

Actual EPS$16.37

Consensus EPS$17.21

Beat/MissMissed by -$0.85

One Year Ago EPS$9.93

MX:HGV Q2 2026 Revenue Results

Actual Revenue$24.98B

Expected Revenue$25.45B

Beat/MissMissed by -$471.11M

YoY Revenue Growth+7.27%

Earnings Announcement Details

QuarterQ2 2026

Date07/30/2026

TimeBefore Open

Conference CallThursday, July 30, 2026

MX:HGV Upcoming Earnings

Hilton Grand Vacations's next earnings date is estimated for November 11, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

MX:HGV Q2 2026 Earnings Call

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Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 30, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call presented a balanced picture: operational and financial fundamentals remain resilient (tour growth, adjusted EBITDA expansion, strong free cash flow, growing Max membership, and ongoing buybacks), but near-term top-line challenges persist. The primary negatives are a meaningful VPG decline and underperformance in sales execution at several Bluegreen sites, which led to a downgrade in VPG and modestly weaker contract sales guidance for Q3 and the year. Management has outlined corrective actions (leadership changes, training, inventory optimization) and reiterated full-year EBITDA guidance, suggesting confidence in recovery.

Company Guidance

Management reiterated 2026 adjusted EBITDA before deferrals guidance of $1.225–$1.265 billion and said it remains confident in meeting full‑year EBITDA and adjusted free cash flow targets, expecting tour growth for the year to be positive low‑ to mid‑single digits (Q3: low single‑digit), VPG to decline low‑ to mid‑single digits for the year (Q3: high‑single‑digit decline), and contract sales to be flat to down slightly for the year (Q3: down mid‑single digits). For context, Q2 produced $293 million of adjusted EBITDA (23% margin), $180 million of adjusted free cash flow (61% conversion), 239,000 tours (+6% YoY), VPG of ~ $3,400 (down 9% YoY), and contract sales of $810 million (down 3%); the quarter’s provision was ~17% of own contract sales and the company reiterated a mid‑teens provision outlook for the year and a full‑year conversion rate in the lower half of its 55–65% target range. Liquidity and capital return guidance/capacity included $735 million of liquidity ($272 million cash, $463 million revolver), pro‑forma net leverage of ~3.8x, a continued share‑repurchase cadence of roughly $150 million per quarter (Q2 repurchases: $150 million / 3.1M shares; July 1–23 additional $25 million for 488k shares) and $103 million remaining repurchase availability as of July 23.

Tour Growth and Demand

Generated 239,000 tours in Q2, up 6% year-over-year and marking the fourth consecutive quarter of consolidated tour growth, with strong tour flow across owner and new-buyer channels.

Adjusted EBITDA and Margin Expansion

Adjusted EBITDA to shareholders grew 5% to $293 million with margins (excluding reimbursements) of 23%, up 40 basis points year-over-year; management reiterated full-year adjusted EBITDA guidance of $1.225B–$1.265B (before deferrals).

Strong Free Cash Flow and Capital Returns

Adjusted free cash flow was $180 million in the quarter (61% conversion from EBITDA), repurchased $150 million of shares during the quarter (3.1 million shares) and over $300 million year-to-date, representing >10% of the float entering the year.

Member Engagement and HGV Max Expansion

Consolidated member base reached 722,000 with nearly 300,000 HGV Max members (40% of base), a 24% increase year-over-year; HGV Ultimate Access hosted over 137,000 guests and continues to drive upgrade sales and member satisfaction.

Real Estate Profitability and Cost Improvements

Real estate profit increased 7% to $173 million, with margins expanding 220 basis points to 28%; cost of product improved to 10% (down 130 basis points year-over-year), supported by higher trust-sale mix and inventory recapture.

Financing Business Performance and Portfolio Metrics

Financing revenue was $144 million with profit of $86 million and financing margins of 62% (up 100 basis points); combined gross receivables totaled $5.0 billion with a weighted average originating loan rate of 14.4% and 31–90 day delinquencies modestly improved versus year-end.

MX:HGV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 11, 2026	2026 (Q3)	20.89 / -	11.035	―
Jul 30, 2026	2026 (Q2)	17.21 / 16.37	9.931	64.81% (+6.44)
Apr 30, 2026	2026 (Q1)	9.78 / 18.21	1.655	1000.00% (+16.55)
Feb 26, 2026	2025 (Q4)	20.52 / 16.18	9.012	79.59% (+7.17)
Oct 30, 2025	2025 (Q3)	17.91 / 11.03	12.322	-10.45% (-1.29)
Jul 31, 2025	2025 (Q2)	14.86 / 9.93	11.403	-12.90% (-1.47)
May 01, 2025	2025 (Q1)	9.75 / 1.66	17.472	-90.53% (-15.82)
Feb 27, 2025	2024 (Q4)	14.27 / 9.01	18.575	-51.49% (-9.56)
Nov 07, 2024	2024 (Q3)	13.89 / 12.32	18.023	-31.63% (-5.70)
Aug 08, 2024	2024 (Q2)	17.16 / 11.40	15.632	-27.06% (-4.23)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed