The following is a summary of the Travel + Leisure Co. (TNL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Travel + Leisure reported Q1 revenue growth of 4%.

• Adjusted earnings per share and EBITDA were $0.97 and $191 million respectively.

• Vacation Ownership and Travel and Membership revenues were $725 million (a 6% increase) and $193 million (a 4% decrease in transactions) respectively.

• Expected Q2 2024 adjusted EBITDA to be between $235 million and $245 million.

• The company maintained flat margins year-over-year in Q1 2024 despite growth in new owners.

• Full-year provision for the credit portfolio was at 19%, with this quarter's provision at 17.4%.

Business Progress:

• Vacation Ownership segment saw a 15% year-over-year increase in tours.

• The company expanded their resort network to over 270 locations with the acquisition of Accor Vacation Club.

• First Sports Illustrated brand resort sales will commence next year.

• Partnership with Wyndham recorded a near 10% year-over-year sales increase.

• Growth is expected in travel club transactions for the rest of the year due to the previous loss of a large customer.

• The company seeks approval for an additional $500 million share repurchase authorization as part of its shareholder-friendly strategy.

• No distinct anomalies noticed in booking trends compared to past leisure travel times.

• New partner Allegiant Air adds 15 million loyalty members and 125 destinations to the company's portfolio.

More details: Travel Plus Leisure IR

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