ORLANDO, Fla. (Feb. 27, 2025) – Hilton Grand Vacations Inc. (NYSE: HGV) (“HGV” or “the Company”) today reports its fourth quarter and full year 2024 results.
Fourth quarter of 2024 highlights[1]
- Total contract sales were $837 million.
- Member count was 724,000. Consolidated Net Owner Growth (NOG) for the year ended Dec. 31, 2024, was 1.1%.
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Total revenues for the fourth quarter were $1.284 billion compared to $1.019 billion for the same period in 2023.
- Total revenues were affected by a net deferral of $90 million in the current period compared to a net deferral of $21 million in the same period in 2023.
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Net income attributable to stockholders for the fourth quarter was $20 million compared to $68 million for the same period in 2023.
- Adjusted net income attributable to stockholders for the fourth quarter was $49 million compared to $111 million for the same period in 2023.
- Net income attributable to stockholders and adjusted net income attributable to stockholders were affected by a net deferral of $49 million in the current period compared to a net deferral of $12 million in the same period in 2023.
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Diluted EPS for the fourth quarter was $0.19 compared to $0.62 for the same period in 2023.
- Adjusted diluted EPS for the fourth quarter was $0.49 compared to $1.01 for the same period in 2023.
- Diluted EPS and adjusted diluted EPS were affected by a net deferral of $49 million in the current period compared to a net deferral of $12 million in the same period in 2023, or $(0.49) and $(0.11) per share in the current period and the same period in 2023, respectively.
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Adjusted EBITDA attributable to stockholders for the fourth quarter was $240 million compared to $270 million for the same period in 2023.
- Adjusted EBITDA attributable to stockholders was affected by a net deferral of $49 million in the current period compared to a net deferral of $12 million in the same period in 2023.
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During the fourth quarter, the Company repurchased 3.2 million shares of common stock for $125 million.
- Through Feb. 20, 2025, the Company has repurchased approximately 1.6 million shares for $66 million and currently has $361 million of remaining availability under the 2024 share repurchase program.
Full Year 2025 Outlook
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The Company expects full-year 2025 Adjusted EBITDA attributable to stockholders excluding deferrals and recognitions to be in a range of $1.125 billion to $1.165 billion.
- Guidance includes an estimated $25 million of incremental consumer financing interest expense attributable to a planned increase in non-recourse borrowing activity associated with the Company’s Financing Business Optimization, as detailed below.
- The Company intends to increase its average quarterly share repurchase goal to $150 million per quarter, from the current $100 million per quarter, to take advantage of the increased cash generated from its Financing Business Optimization program, and will continue to evaluate its share repurchase strategy with its Board of Directors on a routine basis.
“We’re excited to report a strong finish to another productive year, highlighted by the successful closing and integration of our Bluegreen Vacations acquisition,” said Mark Wang, CEO of Hilton Grand Vacations. “Over the past year, we made meaningful improvements to our cost base and organizational structure, introduced HGV Max to Bluegreen members, and produced record free cash flow while returning over $430 million to shareholders. This was on top of the work we are constantly doing to enhance the value of HGV ownership for our members. Looking ahead, we’re well positioned to capitalize on our current momentum as we continue to leverage our scale, partnerships, and other strategic initiatives to drive further growth in 2025 and beyond.”
[1] The Company’s current period results and prior year results include impacts related to deferrals of revenues and direct expenses related to the Sales of VOIs under construction that are recognized when construction is complete. These impacts are reflected in the sub-bullets.
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