Day: July 28, 2021

(TNL) – Travel + Leisure Stock Falls On Disappointing FY21 EPS Outlook

Travel + Leisure Stock Falls On Disappointing FY21 EPS Outlook
  • Travel + Leisure Co (NYSE: TNLreported second-quarter FY21 sales growth of 132% year-on-year, to $797 million, beating the analyst consensus of $721.87 million.
  • Vacation Ownership revenue increased 152% Y/Y to $599 million, while Travel and Membership revenue rose 92% to $204 million.
  • Operating expenses rose 74.5% Y/Y to $349 million, with total expenses for the quarter at $646 million.
  • The operating margin was 18.9%, with $151 million in operating income for the quarter.
  • Net cash provided by operating activities for the six months ended June 30, 2021, rose 123% to $290 million.
  • Adjusted EBITDA surged to $193 million, with a margin of 24.2%.
  • Adjusted EPS of $0.88 beat the analyst consensus of $0.74.
  • “Leisure travel is back in a significant way. All indicators of consumer behavior show that consumers are fulfilling their desire to travel, and we are benefiting from that recovery,” said president and CEO Michael D.
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