NYSE$TNL

Travel + Leisure Co · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Reported first quarter 2022 results, showcasing a return to leisure travel and strong performance in the timeshare business.

Travel + Leisure Co. reported a strong first quarter in 2022, driven by the resurgence of leisure travel. Net income reached $51 million on net revenue of $809 million. The company is optimistic about the year ahead, expecting occupancy to be above 2019 levels due to a robust travel season in North America.

  • Net income was $51 million, with diluted earnings per share at $0.59, on net revenue of $809 million.
  • Adjusted EBITDA reached $170 million, and adjusted diluted earnings per share were $0.69.
  • Net cash from operating activities was $141 million, and adjusted free cash flow was $146 million.
  • The company repurchased $45 million of common stock during the quarter and increased the share repurchase program by $500 million.

Headline financials

Total Revenue

$809M

Previous: $628M+28.8%
EPS (adj)

$0.69

Previous: $0.39+76.9%
Gross VOI Sales

$379M

Previous: $236M+60.6%
Tours

108.0K

Previous: 76.0K+42.1%
Capital Expenditures

-$10M

Previous: -$12M+16.7%
Free Cash Flow

$41M

Previous: $17M+141.2%
Net Income

$51M

Previous: $29M+75.9%
Operating Income

$117M

Previous: $87M+34.5%
Gross Profit

$769M

Previous: $607M+26.7%
Cash & Equivalents

$381M

Previous: $322M+18.3%
Total Assets

$6.6B

Previous: $6.73B-1.9%
Stock-Based Comp

$12M

Previous: $7M+71.4%

Revenue & EPS history

Travel + Leisure · Revenue · Quarterly

$809M

Q1 2022+28.8%vs Q1 2021
Beat estimate in 5 of 16 quarters(31%)
ActualEstimate

Revenue by segment

Travel + Leisure · $814M total across 2 segments · Q1 2022

  • Vacation Ownership
    $604M+34.5%
  • Travel and Membership
    $210M+14.8%

Forward guidance

The Company is providing guidance regarding expectations for the 2022 full year: Adjusted EBITDA of $855 million to $875 million, Gross VOI sales of $1.9 billion to $2.0 billion and VPG of approximately $3,200. The Company is providing guidance regarding expectations for the second quarter 2022: Adjusted EBITDA of $220 million to $230 million, Gross VOI sales of $500 million to $520 million and VPG of approximately $3,300.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

-0.0%

Avg return

Earnings day

-0.8%

Avg return

5 days after

+0.4%

Avg return

30 days after

46%

32 / 69 earnings

Positive

+20.3%

Q3 2018

Best reaction

-13.7%

Q1 2026

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-13.7%-14.2%-14.5%
Q4 2025+3.5%+2.2%-5.9%
Q3 2025+15.3%+8.5%+6.6%
Q2 2025-1.4%-1.8%+0.4%
Q1 2025+1.0%+3.2%+12.0%
Q4 2024+0.7%-2.7%-17.9%
Q3 2024+4.8%+6.8%+21.0%
Q2 2024-8.3%-6.4%-10.9%
Q1 2024-0.8%-1.5%-4.1%
Q4 2023+10.6%+8.1%+14.6%
Q3 2023-1.7%+0.6%+12.1%
Q2 2023-3.8%-1.3%-3.6%
Q1 2023-3.7%-2.8%-3.5%
Q4 2022+3.7%+3.4%-11.9%
Q3 2022-6.5%-5.5%-5.0%
Q2 2022-5.2%-5.9%-4.2%
Q1 2022+1.9%+0.4%-5.9%
Q4 2021-4.9%-4.3%-0.2%
Q3 2021+3.0%+7.4%-4.6%
Q2 2021-5.6%-9.3%-1.4%
Q1 2021-1.1%-1.5%-0.7%
Q4 2020-0.1%+2.3%+7.9%
Q3 2020-3.9%-0.7%+33.7%
Q2 2020-9.2%-7.0%+6.7%
Q1 2020-3.2%+4.2%+55.5%
Q4 2019-6.5%-4.9%-42.0%
Q3 2019+0.1%+3.1%+4.6%
Q2 2019-0.4%-10.3%-6.7%
Q1 2019+0.3%+2.3%-8.7%
Q4 2018-0.8%-4.6%-14.1%
Q3 2018+20.3%+20.8%+15.6%
Q2 2018-3.0%-4.7%-9.5%
Q1 2018-8.2%-7.0%-6.2%
Q4 2017+4.0%+2.7%-1.4%
Q3 2017-1.9%-2.6%+0.5%
Q2 2017-0.7%-2.1%-2.7%
Q1 2017+4.0%+3.8%+8.0%
Q4 2016+4.9%+3.7%+3.0%
Q3 2016-5.4%-3.0%+9.3%
Q2 2016-7.5%-9.7%-8.2%
Q1 2016-4.6%
Q4 2015+4.9%
Q3 2015+6.0%
Q2 2015+0.9%
Q1 2015-4.4%
Q4 2014+9.8%
Q3 2014-2.5%
Q2 2014+2.1%
Q1 2014-0.6%
Q4 2013-2.9%
Q3 2013+2.6%
Q2 2013+2.5%
Q1 2013-2.8%
Q4 2012+5.8%
Q3 2012-3.3%
Q2 2012+4.7%
Q1 2012+1.2%
Q4 2011+1.1%
Q3 2011+11.4%
Q2 2011-6.5%
Q1 2010+2.0%
Q1 2011+0.6%
Q4 2008-4.4%
Q4 2010-4.4%
Q3 2010-0.5%
Q3 2009-0.5%
Q4 2009+3.1%
Q2 2009+3.1%
Q2 2010+3.1%

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