Hilton Grand Vacations Inc. · NYSE:HGV
Hilton Grand Vacations — Q2 2026 Earnings Presentation
12 slides from Hilton Grand Vacations's earnings presentation, Jul 30, 2026
Slide 1: Hilton Grand Vacations Q2 2026 Earnings Call Supplement
Hilton Grand Vacations Q2 2026 Earnings Call Supplement July 30, 2026
Slide 2: Q2 2026 Net Deferral Activity
Q2 2026 Net Deferral Activity Reported GAAP Net deferral Net-deferral-adjusted metrics 3 metrics 1 activity 2 as referenced on earnings call YoY Growth Total revenue $1,358M $54M $1,412M 4.7% Sales of VOI, net $507M $54M $561M Real Estate Business Cost of VOI sales ($38M) ($17M) ($55M) Sales & marke
Slide 3: YTD 2026 Adjusted EBITDA to Adjusted Free Cash Flow
YTD 2026 Adjusted EBITDA to Adjusted Free Cash Flow $ millions ($47) $102 ($137) ($216) $560 ($129) 26% FCF Conversion ($20) $30 $143 YTD 2026 Cost of VOI Cash Taxes Interest Payments Net Consumer Inventory Non-Inventory Working YTD 2026 Adj. EBITDA to Sales on Corporate Debt Finance Capital Capital
Slide 4: Improved conversion of Adjusted EBITDA has supported an inflection in capital returns
Improved conversion of Adjusted EBITDA1 to Adjusted Free Cash Flow2 has supported an inflection in capital returns Free cash flow conversion Capital returned to shareholders Adjusted Free Cash Flow 2 $ Shares Repurchased Free Cash Flow Conversion Rate 3 % of FCF Returned to Shareholders via Share Re
Slide 5: 2026 Guidance
GUIDANCE 2026 Guidance Adjusted EBITDA Guidance Range Midpoint to stockholders excl. net deferrals 1 $1,225M - $1,265M ~$1,245M 5 1) Adjusted EBITDA net of deferrals of revenue and direct expenses related to the Sales of VOIs under construction
Slide 6: Appendix: Non-GAAP Reconciliations
APPENDIX: NON-GAAP RECONCILIATIONS
Slide 7: Q2 2026 Adjusted EBITDA to Adjusted Free Cash Flow
Q2 2026 Adjusted EBITDA to Adjusted Free Cash Flow $ millions $55 ($42) ($69) ($25) 61% FCF Conversion ($58) $36 $293 ($10) $180 Q2 2026 Cost of VOI Cash Taxes Interest Payments Net Consumer Inventory Non-Inventory Working Q2 2026 Adj. EBITDA to Sales on Corporate Debt Finance Capital Capital Capita
Slide 8: YTD 2026 Net Deferral Activity
YTD 2026 Net Deferral Activity Reported GAAP Net deferral Net-deferral-adjusted metrics 3 metrics 1 activity 2 as referenced on earnings call YoY Growth Total revenue $2,643M $79M $2,722M 3.8% Sales of VOI, net $962M $79M $1,041M Real Estate Business Cost of VOI sales ($83M) ($19M) ($102M) Sales & m
Slide 9: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted EBITDA and Adjusted EBITDA Attributable to Stockholders Definition EBITDA, presented herein, is a financial measure that is not recognized under U.S. GAAP that reflects net income (loss), before interest expense (excluding non-recourse debt), a provision for income
Slide 10: Non-GAAP Reconciliations (Continued)
Non-GAAP Reconciliations (Continued) Free Cash Flow and Adjusted Free Cash Flow Definition Free Cash Flow represents cash from operating activities less non-inventory capital spending. Adjusted Free Cash Flow represents free cash flow further adjusted for net non-recourse debt activities and other o
Slide 11: Adjusted EBITDA Attributable to Stockholders Reconciliation
Hilton Grand Vacations Inc. Adjusted EBITDA Attributable to Stockholders Reconciliation(1) (in millions) Three Months Ended Six Months Ended June 30, June 30, 2026 2026 Net income attributable to stockholders $12 $78 Net income attributable to noncontrolling interest 3 5 Net income 15 83 Interest ex
Slide 12: Free Cash Flow Reconciliation
Hilton Grand Vacations Inc. Free Cash Flow Reconciliation(1) (in millions) Three Months Ended Six Months Ended June 30, June 30, 2026 2026 Net cash provided by operating activities $134 $262 Capital expenditures for property and equipment (3) (9) Software capitalization costs (18) (32) Free Cash Flo
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