Hilton Grand Vacations Q4: Topline Beats Street View Backed By Real Estate, Resort Operations Segments

Hilton Grand Vacations Inc (NYSE: HGV) reported fourth-quarter FY22 sales growth of 18.4% year-on-year to $992 million Wednesday, beating the consensus of $978.83 million.
Real estate sales and financing segment revenues totaled $595 million, an increase of 25.3% Y/Y. Resort operations and club management segment revenue were $327 million, up 10.1% Y/Y.
Total contract sales increased 21.7% Y/Y to $634 million.
Net Owner Growth (NOG) for the 12 months ended Dec. 31 was 3.9%.
Adjusted EPS of $1.01 beat the consensus of $0.77.
Adjusted EBITDA was $252 million, down from $264 million a year ago.
The company held $555 million in cash and equivalents and used $92 million in adjusted free cash flow.
"During 2022, we introduced innovative new programs, launched our new membership club, HGV Max, and made material progress in the integration of Diamond Resorts," CEO Mark Wang stated.
Outlook: Hilton Grand Vacations expects FY23 adjusted EBITDA of $1.090 billion - $1.120 billion.
Price Action: HGV shares traded lower by 0.10% at $47.69 premarket on the last check Wednesday.

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