Travel + Leisure beats third-quarter estimates and raises 2026 EBITDA guidance
Full-year adjusted EBITDA is now guided to $1.070 billion to $1.085 billion, with the bottom of the range raised by $5 million.
Published
Travel + Leisure reported third-quarter earnings of $2.21 a share, $0.14 more than expected. Revenue came in at $1.10 billion, against $1.09 billion expected.
Chief Executive Michael Brown said owners continue to prioritize travel, and healthy demand is driving growth in earnings and cash flow.
The company raised its full-year 2026 guidance for adjusted EBITDA, a measure of earnings before interest, taxes, depreciation and amortization. The new range is $1.070 billion to $1.085 billion. The previous range was $1.065 billion to $1.085 billion. The bottom end rises by $5 million and the top end is unchanged, which leaves less room for a shortfall against the outlook.
Guidance for gross VOI sales now runs from $2.625 billion to $2.675 billion, with the low end previously at $2.6 billion. Guidance for VPG is unchanged at $3,325 to $3,375, so the revisions come from the other two measures. Management plans to recommend a fourth-quarter dividend of $0.60 a share. The board is due to vote on it in November 2026, and that decision is the next marker for how the company returns cash to shareholders.
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