NYSE$TNL

Travel + Leisure Co · Q3 2020 earnings

Q3 2020 earnings · · Investor relations

Briefing

Wyndham Destinations reported third quarter results, showing resilience during the re-opening phase with strong demand in both Wyndham Vacation Clubs and Panorama segments.

Wyndham Destinations reported a net income of $40 million and diluted earnings per share of $0.47 on net revenue of $614 million. The company's ability to recover quickly during the re-opening phase demonstrates the resiliency of its business. Early indications show buyer behavior remains unchanged, with VPG 30% higher year-over-year at Wyndham Vacation Clubs.

  • Net income from continuing operations was $40 million, with diluted earnings per share at $0.47 on net revenue of $614 million.
  • Adjusted EBITDA reached $139 million, and adjusted diluted earnings per share was $0.83.
  • Net cash provided by operating activities was $224 million, and adjusted free cash flow totaled $120 million for the first nine months of 2020.
  • Cash and cash equivalents stood at $1.3 billion at the end of September, with $1.5 billion of liquidity available.

Headline financials

Total Revenue

$614M

Previous: $1.11B-44.4%
EPS (adj)

$0.83

Previous: $1.57-47.1%
Gross VOI Sales

$256M

Previous: $663M-61.4%
Tours

80.0K

Previous: 269.0K-70.3%
Exchange Revenue per Transaction

$131.95

Previous: $162.47-18.8%
Capital Expenditures

-$56M

Previous: -$75M+25.3%
Free Cash Flow

-$16M

Previous: $60M-126.7%
Net Income

$40M

Previous: $135M-70.4%
Operating Income

$64M

Previous: $214M-70.1%
Gross Profit

$592M

Previous: $1.05B-43.3%
Cash & Equivalents

$1.28B

Previous: $250M+410.4%
Total Assets

$7.82B

Previous: $7.56B+3.4%
Stock-Based Comp

$6M

Previous: $5M+20.0%

Revenue & EPS history

Travel + Leisure · Revenue · Quarterly

$614M

Q3 2020-44.4%vs Q3 2019
Beat estimate in 2 of 16 quarters(13%)
ActualEstimate

Revenue by segment

Travel + Leisure · $615M total across 2 segments · Q3 2020

  • Vacation Ownership
    $477M-44.4%
  • Travel and Membership
    $138M-44.8%

Forward guidance

The company expects to recommend a fourth quarter dividend of $0.30 per share for approval by the Board of Directors and expects to be adjusted free cash flow positive for the full-year.

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 Q3 2020

Historical avgQ3 2020

-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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