10-K · February 26, 2026
Hilton Grand Vacations (HGV) emphasizes a capital-efficient inventory strategy and scale in its Club membership (over 720,000 members) while integrating the Bluegreen and Diamond acquisitions. The company reports a…
Earnings analysis · 10-Q
HGV earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
Hilton Grand Vacations (HGV) reported Q1 2026 results that exceeded analysts' expectations with revenues of $1.285 billion and a diluted EPS of $0.79, showcasing strong year-over-year growth driven by robust demand and…
Read full summary
Hilton Grand Vacations (HGV) reported Q1 2026 results that exceeded analysts' expectations with revenues of $1.285 billion and a diluted EPS of $0.79, showcasing strong year-over-year growth driven by robust demand and operational efficiencies. Management raised its full-year Adjusted EBITDA guidance, indicating confidence in sustained performance amidst a recovering market.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.79
- Segment
- Real estate sales and financing
- Segment
- Resort operations and club management
What stood out
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Robust Revenue Growth
Q1 2026 revenue reached $1.285 billion, up from $1.15 billion in Q1 2025, reflecting a year-over-year increase of 11.8%.
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Significant EPS Improvement
Diluted EPS for Q1 2026 was $0.79, a substantial increase from a loss of $0.17 in Q1 2025.
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Increased Adjusted EBITDA Guidance
Management raised full-year Adjusted EBITDA guidance to $1.225 - $1.265 billion, up from the previous estimate of $1.185 - $1.225 billion.
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Strong Gross Margin
Gross margin for Q1 2026 stood at 94.3%, consistent with Q4 2025, demonstrating effective cost management.
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Impressive Free Cash Flow
Free Cash Flow for Q1 2026 was $59 million, compared to $6 million in Q1 2025, indicating improved cash generation.
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Active Share Buyback Program
HGV repurchased 3.32 million shares in Q1 2026, indicating strong confidence in stock valuation.
What to watch
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Financial Market Dependence
HGV's operations are sensitive to changes in interest rates and broader economic conditions affecting consumer demand.
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High Debt Levels
The company's rising debt levels, with ongoing obligations from securitized financing, may constrain financial flexibility.
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Market Competition
Growing competition in the timeshare industry could impact sales and profit margins, putting pressure on future performance.
Management's outlook
Adjusted EBITDA guidance raised to $1.225 - $1.265 billion for 2026 from $1.185 - $1.225 billion.
Earlier filings 4
10-K · March 3, 2025
Hilton Grand Vacations completed the Bluegreen acquisition on January 17, 2024 for approximately $1.6 billion (inclusive of net debt) and reports a large contract sales pipeline of $12.7 billion as of December 31, 2024,…
10-Q · August 8, 2024
Hilton Grand Vacations reported Q2 revenues of $1,235 million (up $228 million or 22.6% vs. $1,007 million in Q2 2023), driven by the January 17, 2024 Bluegreen acquisition and strength in VOI sales and financing. Net…
10-Q · April 27, 2023
Hilton Grand Vacations reported Q1 2023 revenue of $934.0M (up from $779.0M in Q1 2022) and diluted EPS of $0.64 (up from $0.42). Real estate sales & financing and resort operations both grew; operating expenses rose…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.