Hilton Grand Vacations reported third-quarter 2026 results, with contract sales below the year-earlier level and full-year adjusted EBITDA guidance reduced. The company also reported substantial construction-related revenue and earnings effects, repurchased shares and promoted Mike Riley to lead sales and marketing.
Quarterly results
– Total contract sales were $807 million, down 11% from the third quarter of 2025.
– Total revenue was $1.961 billion. HGV said revenue was affected by $536 million of net construction recognition.
– Net income attributable to stockholders was $291 million, or $3.70 per diluted share. Adjusted net income was $317 million, or $4.03 per diluted share.
– HGV said net income and adjusted net income were affected by $296 million of net construction recognition, equal to $3.76 per share. Adjusted EBITDA attributable to stockholders was $609 million and was also affected by $296 million of net construction recognition.
– The provision for financing-receivable losses was 12.5% of owned contract sales. HGV said the rate was driven primarily by changes to its methodology for estimating those losses, implemented during the quarter.
Guidance, capital returns and leadership
– HGV lowered its full-year 2026 adjusted EBITDA outlook, excluding deferrals and recognitions, to $1.165 billion-$1.180 billion from $1.225 billion-$1.265 billion.
– The company repurchased 2.4 million shares for $110 million during the quarter. As of October 22, it had $617 million of remaining availability under its share-repurchase plans.
– Mike Riley was promoted to executive vice president and chief sales and marketing officer.
HGV said its sales results fell short of expectations and that summer initiatives to improve execution were taking longer than planned to ramp up. The reduced outlook reflects that weaker sales performance, while the reported quarterly revenue and earnings figures were also affected by construction-related recognition.