Travel & Leisure Co. reported results for the second quarter of 2026, with revenue of $1063M, net income of $109M attributable to shareholders and diluted EPS of $1.72, each up modestly from the year-ago quarter as the company continued to expand its vacation ownership and travel membership businesses.
Financial Highlights
- Revenue: $1,063M for Q2 2026, up from $1,018M in Q2 2025 (4.4% YoY).
- Net income: $109M attributable to Travel & Leisure Co. shareholders for Q2 2026, versus $108M in Q2 2025 (0.9% YoY).
- Diluted EPS: $1.72 for Q2 2026, up from $1.62 in Q2 2025 (6.2% YoY).
Business Highlights
- Vacation Ownership: Year-to-date net revenues rose, driven by higher tours and a 2–3% increase in VPGs, which boosted segment Adjusted EBITDA.
- Channel shift: Travel & Membership experienced a mix shift toward Travel Club transactions (up 22–26%), which lowered revenue per transaction and reduced member counts.
- Brand momentum and M&A: The company closed Yes& Vacations and agreed to acquire Spinnaker Resorts to expand its resort network and owner monetization opportunities.
- Operational efficiency: Resort optimization lowered developer obligations by roughly $40M year-to-date but led to inventory write-downs and closure costs related to 17 resorts.
- Consumer finance and collections: VOCR originations increased; delinquencies have begun to normalize after sequential improvement.
Original SEC Filing:
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