HGV - Hilton Grand Vacations Acquires Bluegreen Vacations For $1.5B Q3 Earnings Hit By Maui Wildfires | Benzinga
Hilton Grand Vacations Inc (NYSE: HGV) reported a third-quarter FY23 sales decline of 8.8% year-on-year to $1.02 billion, missing the analyst consensus estimate of $1.05 billion.
Revenues were affected by a net deferral of $12 million in the current period compared to a net recognition of $86 million in the same period in 2022.
Real estate sales and financing segment revenues totaled $612 million, a decrease of $133 million from last year. Total contract sales in Q3 decreased $18 million to $603 million.
Consolidated Net Owner Growth (NOG) for the 12 months ended Sept. 30, 2023, was 2.1%.
The operating expenses decreased 4.6% Y/Y to $838 million. ...