Travel + Leisure Co (TNL)
NYSE:TNL
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Earnings Data
Report Date
Jul 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.89Last Year’s EPS
1.65Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The earnings call presented a largely positive operational and financial performance: revenue, EBITDA, EPS, margin expansion, Vacation Ownership strength, multi-brand momentum, and strong liquidity and capital returns. Challenges remain in the Travel & Membership segment (secular decline in exchange activity), early-stage delinquencies in recent loan vintages, slightly weaker new-owner conversion, and a backloaded free cash flow profile due to inventory investments. Management reiterated full-year guidance and emphasized confidence in execution while noting macro uncertainty. On balance, the positive results and traction on strategic initiatives outweigh the headwinds described.Company Guidance
Revenue, EBITDA and EPS Outperformance
Reported Q1 revenue of $961 million (up 3% YoY), adjusted EBITDA of $225 million (up 11% YoY) and adjusted EPS of $1.45 (EPS growth 31% YoY). EBITDA exceeded guidance and management reiterated full-year guidance.
Vacation Ownership Strength
Gross VOI sales of $549 million, up 7% YoY, driven by tour flow growth of 5% and volume per guest (VPG) increasing 3% to $3,321. Vacation Ownership segment EBITDA was $191 million, up 20% YoY with 180 basis points of EBITDA margin expansion.
Margin Expansion and Operating Leverage
EBITDA margin expanded by ~180 basis points in the quarter, reflecting operating leverage, improved inventory efficiency and savings from the resort optimization initiative.
Capital Returns to Shareholders
Returned $128 million to shareholders in the quarter through dividends and share repurchases; dividend increased 7% to $0.60 per share and 1.2 million shares were repurchased.
Multi-Brand Growth Momentum
Progress on multi-brand strategy: Margaritaville nearing $150 million in annual VOI sales; Accor Vacation Club expected to nearly double VOI sales in 2026; Eddie Bauer Venture Club launch (first resort in Moab) and Sports Illustrated sales underway. Combined new-brand VOI sales expected to approach 10% of sales mix in the year.
Strong Balance Sheet and Liquidity
Leverage around 3.2x (in line with seasonal expectations), over $1 billion of available liquidity, and successful ABS issuance of $325 million at a 98% advance rate and 5.1% coupon, demonstrating access to favorable capital markets.
Reaffirmed Full-Year Guidance
Management reiterated full-year 2026 guidance: gross VOI sales $2.5B–$2.6B, EBITDA $1.03B–$1.055B, VPG $3,175–$3,275, ~50% EBITDA-to-free-cash-flow conversion and expected EPS growth in the teens.
Resort Optimization Delivering Savings
Resort optimization initiative is realizing the expense savings outlined last quarter, with sustained historical sales growth despite removing a small number of aging, lower-demand resorts.
TNL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TNL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 22, 2026 | $76.15 | $65.78 | -13.62% |
Feb 18, 2026 | $72.24 | $74.75 | +3.47% |
Oct 22, 2025 | $59.68 | $68.77 | +15.23% |
Jul 23, 2025 | $56.41 | $60.32 | +6.95% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Travel + Leisure Co (TNL) report earnings?
Travel + Leisure Co (TNL) is schdueled to report earning on Jul 29, 2026, Before Open (Confirmed).
What is Travel + Leisure Co (TNL) earnings time?
Travel + Leisure Co (TNL) earnings time is at Jul 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TNL EPS forecast?
TNL EPS forecast for the fiscal quarter 2026 (Q2) is 1.89.