Hilton Grand Vacations Q3 Earnings Surpass Street View

Hilton Grand Vacations Inc HGV reported third-quarter FY22 sales growth of 20.2% year-on-year to $1.12 billion, beating the consensus of $929.14 million.
Real estate sales and financing segment revenues totaled $745 million, an increase of $86 million from last year.
Total contract sales in Q3 were $621 million.
Net Owner Growth (NOG) for the Legacy-HGV business for the 12 months ended September 30, 2022, was 3.8%.
The operating expenses rose 22.2% Y/Y to $879 million. EPS of $1.24 beat the consensus of $0.77.
Adjusted EBITDA for the quarter was $338 million.
The company held $744 million in cash and equivalents as of September 30, 2022.
HGV currently has $290 million remaining of the $500 million repurchase plan approved by the Board in May 2022.
Outlook: Hilton Grand Vacations raised its FY22 adjusted EBITDA, excluding deferrals and recognitions, forecast of $1.025 billion - $1.045 billion.
Price Action: HGV shares traded higher by 8.16% at $40.58 on the last check Wednesday.

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