HGV - Hilton Grand Vacations Inc. (HGV) Q1 2024 Earnings Call Transcript

2024-05-09 17:52:05 ET

Hilton Grand Vacations Inc. (HGV)

Q1 2024 Earnings Conference Call

May 09, 2024 11:00 AM ET

Company Participants

Mark Melnyk - Senior Vice President of IR

Mark Wang - Chief Executive Officer

Dan Mathewes - President and Chief Financial Officer

Conference Call Participants

Patrick Scholes - Truist Securities

Brandt Montour - Barclays

Ryan Lambert - JP Morgan

Benjamin Chaiken - Mizuho

David Katz - Jefferies

Patrick Scholes - Truist Securities

Presentation

Operator

Good morning and welcome to the Hilton Grand Vacations First Quarter 2024 Earnings Conference Call. A telephone replay will be available for seven days following the call. The dial in number is 844-512-2921 and enter pin 13743185. At this time, all participants have been placed in a listen only mode, and the floor will be open for your questions following the presentation. [Operator Instructions]

I would now like to turn the call over to Mark Melnyk, Senior Vice President of Investor Relations. Please go ahead, sir.

Mark Melnyk

Thank you, Operator, and welcome to the Hilton Grand Vacations first quarter 2024 earnings call. As a reminder, our discussions this morning will include forward looking statements. Actual results could differ materially from those indicated by these forward-looking statements, and the statements are effective only as of today, we undertake no obligation to publicly update or revise these statements.

For a discussion of some of the factors that could cause actual results to differ, please see the Risk Factors section of our SEC filings. We'll also be referring to certain non-GAAP financial measures. You can find definitions and components of such non-GAAP numbers, as well as reconciliations of non-GAAP and GAAP financial measures discussed today in our earnings press release and on our website at investors.hgv.com.

Our reported results for all periods reflect accounting rules under ASC 606 which we adopted in 2018. Under ASC 606, we're required to defer certain revenues and expenses related to sales made in the period when a project is under construction and then hold-off on recognizing those revenues and expenses until the period when construction is completed....

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