Hilton Grand Vacations Inc. · NYSE:HGV
Hilton Grand Vacations — Q1 2026 Earnings Presentation
11 slides from Hilton Grand Vacations's earnings presentation, Apr 30, 2026
Slide 1: Hilton Grand Vacations Q1 2026 Earnings Call Supplement
Hilton Grand Vacations Q1 2026 Earnings Call Supplement April 30, 2026
Slide 2: Q1 2026 Net Deferral Activity
Q1 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 $1,285M $25M $1,310M 2.8% Sales of VOI, net $455M $25M $480M Real Estate Business Cost of VOI sales ($45M) ($2M) ($47M) Sales & market
Slide 3: First Quarter 2026 Adjusted Free Cash Flow conversion
First Quarter 2026 Adjusted Free Cash Flow conversion First Quarter cash conversion impacted by seasonal timing of ABS financing, as expected $ millions ($5M) $47M ($68M) ($191M) $267M ($71M) ($10M) ($6M) ($37M) Q1 2026 Adj. Cost of VOI Cash Interest Net Consumer Inventory Non-Inventory Working Q1 2
Slide 4: Improved conversion of Adjusted EBITDA to Adjusted Free Cash Flow 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: Guidance Update
GUIDANCE UPDATE Updated 2026 Guidance Previous 2026 Guidance Adjusted EBITDA Guidance Range Midpoint Guidance Range Midpoint to stockholders excl. net deferrals 1 $1,185M - $1,225M ~$1,205M $1,225M - $1,265M ~$1,245M 5 1) Adjusted EBITDA net of deferrals of revenue and direct expenses related to the
Slide 6: 2026 Guidance updated to include an incremental $40M of Adjusted EBITDA
2026 Guidance updated to include an incremental $40M of Adjusted EBITDA 1 Driven by our Q1 performance and contribution from full ownership of our Elara property $20M $20M Adj. EBITDA $1,225M - $1,265M Adj. EBITDA $1,185M - $1,225M Previous Q1 Performance Elara Updated 2026 Guidance Contribution 202
Slide 7: Appendix: Non-GAAP Reconciliations
APPENDIX: NON-GAAP RECONCILIATIONS
Slide 8: 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 9: 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 10: Adjusted EBITDA Attributable to Stockholders Reconciliation
Hilton Grand Vacations Inc. Adjusted EBITDA Attributable to Stockholders Reconciliation(1) (in millions) Three Months Ended March 31, 2026 Net income attributable to stockholders $66 Net income attributable to noncontrolling interest 2 Net income 68 Interest expense 73 Income tax expense 6 Depreciat
Slide 11: Free Cash Flow Reconciliation
Hilton Grand Vacations Inc. Free Cash Flow Reconciliation(1) (in millions) Three Months Ended March 31, 2026 Net cash provided by operating activities $128 Capital expenditures for property and equipment (6) Software capitalization costs (14) Free Cash Flow 108 Non-recourse debt activity, net (167)
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