Hilton Grand Vacations lowers 2026 adjusted EBITDA range as sales ramp lags
Third-quarter revenue came in at $1.96 billion, against $1.42 billion expected.
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Hilton Grand Vacations has lowered its full-year 2026 adjusted EBITDA range to $1.165 billion to $1.180 billion. The previous range was $1.225 billion to $1.265 billion. Adjusted EBITDA is operating profit before interest, taxes, depreciation and amortization, as the company defines it. The new range excludes deferrals and recognitions. At the midpoint, the cut is about 6 per cent.
Third-quarter earnings per share were $4.03. Revenue was $1.96 billion, against $1.42 billion expected. Mark Wang, the company's chief executive, said sales fell short because the initiatives the company started over the summer are taking longer to build than planned.
The company bought back 2.4 million shares for $110 million in the third quarter. It had $617 million left under its repurchase plans as of October 22, 2026.
The cut assumes the slower sales ramp runs through the rest of the year. It does not treat the shortfall as a one-quarter miss. Buybacks continued in the quarter despite the lower range. Headline revenue beat expectations, which sits awkwardly with the statement that sales fell short. The sales miss likely sits in a narrower measure than total revenue. Whether the ramp catches up will decide whether the lower range holds.
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