Hilton Grand Vacations Shares Are Down Today: What's Going On?
Portfolio Pulse from Lekha Gupta
Hilton Grand Vacations Inc. (NYSE:HGV) shares fell after reporting Q4 FY23 results with sales of $1.02 billion, in line with consensus but affected by net deferrals. Real estate sales and financing revenues decreased slightly, while adjusted EBITDA and EPS rose. The company also announced share repurchases and expects higher 2024 Adjusted EBITDA, including Bluegreen Vacations operations.
February 29, 2024 | 5:15 pm
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NEGATIVE IMPACT
Hilton Grand Vacations reported Q4 FY23 results with steady sales and increased adjusted EBITDA, alongside share repurchases and a positive 2024 outlook.
Despite reporting in-line sales and an increase in adjusted EBITDA, HGV shares fell, likely due to market reactions to the net deferrals and a slight decrease in real estate sales and financing revenues. The share repurchase and positive outlook for 2024, including the acquisition of Bluegreen Vacations, indicate a strong company position, but the immediate market reaction was negative.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100