By Katherine Hamilton
Hilton Grand Vacations recorded a wider loss in the first quarter, missing Wall Street's expectations.
The timeshare company on Thursday posted a loss of $12 million, or 17 cents a share, in the quarter ended March 31, compared with a loss of $2 million, or 4 cents a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were 9 cents, behind the 53 cents forecast by analysts, according to FactSet.
Income was affected by a net deferral of $68 million in the first quarter, compared with a recognition of $3 million the previous year, the company said.
Revenue fell 0.7% to $1.15 billion. Analysts surveyed by FactSet forecast revenue of $1.25 billion.
Revenue was dented by a net deferral of $126 million compared with a recognition of $2 million the year before, Hilton Grand Vacations said.
The company reiterated its guidance for the full year.
Chief Executive Mark Wang said the company has taken steps to maintain momentum in the face of increased macroeconomic uncertainty and market volatility. It is adding initiatives to improve efficiency and member engagement, it said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
May 01, 2025 08:23 ET (12:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.