Hilton Grand Vacations cuts 2026 adjusted EBITDA outlook as sales initiatives ramp slowly
The timeshare company lowered its full-year range to $1.165 billion to $1.180 billion, even as third-quarter revenue of $1.96B came in above the $1.42B expected.
Hilton Grand Vacations lowered its 2026 adjusted EBITDA guidance, excluding deferrals and recognitions, to between $1.165 billion and $1.180 billion. The prior range was $1.225 billion to $1.265 billion. That is a cut of about 6% at the midpoint.
CEO Mark Wang said sales fell short of expectations because the execution initiatives put in place over the summer are taking longer to ramp than anticipated. The lower range carries that slower ramp through the rest of the year. It does not treat it as a one-quarter miss.
Third-quarter revenue was $1.96B, against $1.42B expected, and earnings per share were $4.03. Revenue beat the forecast, which sits oddly beside Wang's comment on sales. The shortfall he describes is likely in a narrower sales measure than total revenue.
The company kept buying back stock. It repurchased 2.4 million shares for $110 million in the third quarter, and had $617 million left under its repurchase plans as of Oct. 22, 2026.
Whether the initiatives catch up will decide if the lower range holds.
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