Hilton Grand Vacations Acquires Bluegreen Vacations For $1.5B, Q3 Earnings Hit By Maui Wildfires
Portfolio Pulse from Shivani Kumaresan
Hilton Grand Vacations (HGV) reported a Q3 FY23 sales decline of 8.8% YoY to $1.02 billion, missing the analyst consensus estimate. The company also announced the acquisition of Bluegreen Vacations (BVH) for $1.5 billion. HGV's revenues were affected by Maui wildfires and macro uncertainty. The company lowered its FY23 adjusted EBITDA outlook. HGV shares traded lower by 8.07%, while BVH shares are up 105.6%.
November 06, 2023 | 2:48 pm
News sentiment analysis
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NEGATIVE IMPACT
Hilton Grand Vacations reported a Q3 sales decline and lowered its FY23 adjusted EBITDA outlook. The company's shares traded lower by 8.07%.
The company's Q3 sales decline and lowered outlook for FY23 are likely to negatively impact investor sentiment, leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Hilton Grand Vacations announced the acquisition of Bluegreen Vacations for $1.5 billion. BVH's shares are up 105.6%.
The acquisition announcement has led to a significant increase in BVH's stock price, as the acquisition price represents a premium of 111% over BVH's last closing price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100