Hilton Grand Vacations | 8-K: FY2025 Q3 Revenue: USD 1.3 B

Revenue: As of FY2025 Q3, the actual value is USD 1.3 B.

EPS: As of FY2025 Q3, the actual value is USD 0.28, missing the estimate of USD 0.941.

EBIT: As of FY2025 Q3, the actual value is USD 74 M.

Real Estate Sales and Financing

• Revenue: $789 million, a decrease of $25 million compared to Q3 2024.
• Adjusted EBITDA: $184 million, down from $233 million in Q3 2024.
• Adjusted EBITDA Profit Margin: 23.3%, down from 28.6% in Q3 2024.
• Contract Sales: $907 million, up $130 million YoY.
• Tours: Increased by 1.9% YoY.
• VPG: Increased by 14.7% YoY.
• Financing Revenue: Increased by $23 million YoY.

Resort Operations and Club Management

• Revenue: $406 million, an increase of $23 million compared to Q3 2024.
• Adjusted EBITDA: $159 million, up from $156 million in Q3 2024.
• Adjusted EBITDA Profit Margin: 39.2%, down from 40.7% in Q3 2024.

Cash Flow

• Free Cash Flow: - $4 million for Q3 2025, compared to $59 million in Q3 2024.
• Adjusted Free Cash Flow: $23 million for Q3 2025, compared to - $42 million in Q3 2024.

Balance Sheet and Liquidity

• Total Cash and Cash Equivalents: $215 million as of September 30, 2025.
• Total Restricted Cash: $328 million as of September 30, 2025.
• Corporate Debt: $4.7 billion with a weighted average interest rate of 5.980%.
• Non-Recourse Debt: $2.5 billion with a weighted average interest rate of 5.096%.
• Liquidity Position: $215 million of unrestricted cash and $632 million remaining borrowing capacity under the revolver facility.
• Timeshare Facility: $300 million remaining borrowing capacity.
• Notes: $1.1 billion of notes current on payments but not securitized, with $586 million potentially monetizable.

Outlook / Guidance

• The company is reiterating its prior guidance for the full year 2025 Adjusted EBITDA, excluding deferrals and recognitions, of $1.125 billion to $1.165 billion.