Travel + Leisure (NYSE:TNL) Releases Earnings Results

Travel + Leisure (NYSE:TNL) posted its quarterly earnings results on Wednesday. The company reported $1.83 EPS for the quarter, hitting the consensus estimate of $1.83, FiscalAI reports. Travel + Leisure had a negative return on equity of 49.06% and a net margin of 10.36%.The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the firm earned $1.72 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year.

Here are the key takeaways from Travel + Leisure’s conference call:

• Strong 2025 financials and confident 2026 guide: 2025 revenue was $4.02B (+4%) with adjusted EBITDA of $990M (+7%), $449M returned to shareholders, and management guides 2026 adjusted EBITDA to $1.03B–$1.055B alongside a new $750M buyback authorization and a proposed dividend — signaling continued cash generation and shareholder returns.
• Vacation Ownership momentum: Gross VOI sales rose 8%, VPG finished strong (Q4 VPG ~ $3,359, +6%), tour flow accelerated, and originations show high credit quality (avg FICO >740) with management expecting a lower loan-loss provision in 2026, supporting recurring cash flow and margin expansion.
• Resort Optimization Initiative has mixed near-term impacts: Management took a $216M non‑cash write-down for removing 17 older resorts, which reduces FY2026 sales and fees (≈ $120M revenue headwind, ~$50M EBITDA drag) but is expected to deliver ~$15M–$25M net EBITDA benefit in 2026 after ~ $70M in expense savings and longer‑term portfolio improvement.
• Travel & Membership is under pressure from exchange-rate headwinds (Q4 revenue -6%, EBITDA -10%); management is cutting costs and modeling 2026 consistent with 2025, but near-term margin pressure in this segment remains a risk.

Travel + Leisure Trading Down 0.4%

Shares of Travel + Leisure stock traded down $0.33 during trading hours on Thursday, hitting $75.06. 83,439 shares of the company were exchanged, compared to its average volume of 605,168. The business has a 50-day moving average of $72.04 and a 200-day moving average of $65.91. Travel + Leisure has a 1 year low of $37.77 and a 1 year high of $81.00. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 0.64 and a beta of 1.38.

Analyst Ratings Changes

A number of brokerages have issued reports on TNL. Stifel Nicolaus set a $89.00 target price on Travel + Leisure in a research report on Wednesday. Morgan Stanley upped their target price on shares of Travel + Leisure from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Oppenheimer reissued an “outperform” rating and issued a $85.00 price target on shares of Travel + Leisure in a research report on Wednesday. Wall Street Zen lowered Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Citizens Jmp increased their price objective on Travel + Leisure from $80.00 to $90.00 and gave the company a “market outperform” rating in a research note on Thursday. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.90.

Insiders Place Their Bets

In other news, insider Geoffrey Richards sold 62,525 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $65.17, for a total transaction of $4,074,754.25. Following the transaction, the insider directly owned 39,604 shares of the company’s stock, valued at $2,580,992.68. This represents a 61.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George Herrera sold 559 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $68.18, for a total value of $38,112.62. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travel + Leisure

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC acquired a new stake in Travel + Leisure in the fourth quarter worth approximately $170,000. Maryland State Retirement & Pension System acquired a new position in shares of Travel + Leisure during the 4th quarter valued at $217,000. Panagora Asset Management Inc. bought a new stake in shares of Travel + Leisure in the 4th quarter worth $212,000. Northwestern Mutual Wealth Management Co. boosted its stake in Travel + Leisure by 14.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,151 shares of the company’s stock valued at $187,000 after buying an additional 407 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in Travel + Leisure during the second quarter worth about $219,000. 87.54% of the stock is owned by institutional investors and hedge funds.

Key Travel + Leisure News

Here are the key news stories impacting Travel + Leisure this week:

• Positive Sentiment: Management announced a $750M share buyback, a dividend increase and 2026 EBITDA guidance of $1.03–$1.055B, signaling confidence in cash flow and supporting capital returns. Travel + Leisure: Positive Momentum Continues
• Positive Sentiment: Analysts raised targets and ratings (Wells Fargo: $81→$88, overweight; Citizens JMP: $80→$90, market outperform), providing fresh upside estimates that support share-price gains. Benzinga coverage of analyst actions TickerReport
• Positive Sentiment: Top-line beat: Q4 net revenue ~$1.03B and gross VOI sales +8% YoY (tour & VPG growth). Outperformance on sales/revenue underpins the upbeat outlook. Business Wire: Q4 & full-year 2025 results
• Neutral Sentiment: Company announced a resort optimization plan intended to improve margins and long-term returns; execution will determine impact. Investing.com: resort optimization plan
• Neutral Sentiment: Adjusted/operational metrics met or beat expectations (many outlets report EPS in line with consensus on an adjusted basis), which supports the positive market reaction despite GAAP noise. MarketBeat: earnings summary
• Negative Sentiment: GAAP net loss of $61M (diluted loss per share $0.95) driven by a $210M inventory write-down — a one-time charge that produced a headline loss and could temper near-term sentiment among more conservative investors. Business Wire: Q4 & full-year 2025 results
• Negative Sentiment: Conflicting reports/transcripts circulated (one transcript entry shows a negative EPS figure), creating short-term confusion; remember to distinguish adjusted results (met estimates) from GAAP figures when modeling. InsiderMonkey earnings call transcript

Travel + Leisure Company Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.