$HGV
Hilton Grand Vacations Inc.

2023 Q3 Form 10-Q Financial Statement

#000162828023027131 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $1.018B $1.007B $948.0M
YoY Change -8.78% 6.22% 183.83%
Cost Of Revenue $733.0M $737.0M $657.0M
YoY Change -2.66% 12.18% 160.71%
Gross Profit $285.0M $270.0M $291.0M
YoY Change -21.49% -7.22% 254.88%
Gross Profit Margin 28.0% 26.81% 30.7%
Selling, General & Admin $40.00M $48.00M $66.00M
YoY Change -20.0% -27.27% 50.0%
% of Gross Profit 14.04% 17.78% 22.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $53.00M $52.00M $64.00M
YoY Change -7.02% -18.75% 433.33%
% of Gross Profit 18.6% 19.26% 21.99%
Operating Expenses $93.00M $100.0M $130.0M
YoY Change -13.08% -23.08% 132.14%
Operating Profit $192.0M $170.0M $161.0M
YoY Change -25.0% 5.59% 519.23%
Interest Expense $45.00M -$42.00M -$31.00M
YoY Change 21.62% 35.48% -282.35%
% of Operating Profit 23.44% -24.71% -19.25%
Other Income/Expense, Net -$1.000M $3.000M -$2.000M
YoY Change -150.0% -250.0% 100.0%
Pretax Income $136.0M $115.0M $114.0M
YoY Change -33.33% 0.88% 850.0%
Income Tax $44.00M $35.00M $41.00M
% Of Pretax Income 32.35% 30.43% 35.96%
Net Earnings $92.00M $80.00M $73.00M
YoY Change -38.57% 9.59% 711.11%
Net Earnings / Revenue 9.04% 7.94% 7.7%
Basic Earnings Per Share $0.84 $0.72 $0.60
Diluted Earnings Per Share $0.83 $0.71 $598.4K
COMMON SHARES
Basic Shares Outstanding 110.0M shares 111.4M shares 120.3M
Diluted Shares Outstanding 110.9M shares 112.0M shares 122.0M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $227.0M $252.0M $374.0M
YoY Change -46.59% -32.62% 17.61%
Cash & Equivalents $227.0M $252.0M $374.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.308B $1.280B $1.241B
Prepaid Expenses
Receivables $441.0M $485.0M $413.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.976B $2.017B $2.028B
YoY Change 0.41% -0.54% 59.94%
LONG-TERM ASSETS
Property, Plant & Equipment $789.0M $870.0M $861.0M
YoY Change 1.68% 1.05% 69.49%
Goodwill $1.416B $1.416B
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $74.00M $72.00M $66.00M
YoY Change 7.25% 9.09% 15.79%
Other Assets $308.0M $336.0M $292.0M
YoY Change -3.45% 15.07% -80.57%
Total Long-Term Assets $6.033B $6.134B $6.104B
YoY Change -0.74% 0.49% 88.45%
TOTAL ASSETS
Total Short-Term Assets $1.976B $2.017B $2.028B
Total Long-Term Assets $6.033B $6.134B $6.104B
Total Assets $8.009B $8.151B $8.132B
YoY Change -0.46% 0.23% 80.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $942.0M $1.043B $976.0M
YoY Change -3.68% 6.86% 191.34%
Accrued Expenses $80.00M $83.00M $80.00M
YoY Change 8.11% 3.75% 35.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.022B $1.126B $1.056B
YoY Change -2.85% 6.63% 168.02%
LONG-TERM LIABILITIES
Long-Term Debt $3.768B $3.824B $3.811B
YoY Change -0.13% 0.34% 23.69%
Other Long-Term Liabilities $414.0M $438.0M $490.0M
YoY Change 14.68% -10.61% 0.2%
Total Long-Term Liabilities $4.182B $4.262B $4.301B
YoY Change 1.16% -0.91% 20.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.022B $1.126B $1.056B
Total Long-Term Liabilities $4.182B $4.262B $4.301B
Total Liabilities $5.861B $6.046B $6.055B
YoY Change -0.48% -0.15% 47.29%
SHAREHOLDERS EQUITY
Retained Earnings $588.0M $539.0M
YoY Change 13.73%
Common Stock $1.536B $1.542B
YoY Change -4.48%
Preferred Stock
YoY Change
Treasury Stock (at cost) $541.0M $478.0M
YoY Change
Treasury Stock Shares
Shareholders Equity $2.148B $2.105B $2.077B
YoY Change
Total Liabilities & Shareholders Equity $8.009B $8.151B $8.132B
YoY Change -0.46% 0.23% 80.43%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $92.00M $80.00M $73.00M
YoY Change -38.57% 9.59% 711.11%
Depreciation, Depletion And Amortization $53.00M $52.00M $64.00M
YoY Change -7.02% -18.75% 433.33%
Cash From Operating Activities $92.00M $194.0M $260.0M
YoY Change -60.52% -25.38% 766.67%
INVESTING ACTIVITIES
Capital Expenditures $22.00M $14.00M -$21.00M
YoY Change -237.5% -166.67% 162.5%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$22.00M -$14.00M -$21.00M
YoY Change 37.5% -33.33% 162.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -118.0M -335.0M -385.0M
YoY Change -6.35% -12.99% -130.73%
NET CHANGE
Cash From Operating Activities 92.00M 194.0M 260.0M
Cash From Investing Activities -22.00M -14.00M -21.00M
Cash From Financing Activities -118.0M -335.0M -385.0M
Net Change In Cash -48.00M -155.0M -146.0M
YoY Change -152.75% 6.16% -111.45%
FREE CASH FLOW
Cash From Operating Activities $92.00M $194.0M $260.0M
Capital Expenditures $22.00M $14.00M -$21.00M
Free Cash Flow $70.00M $180.0M $281.0M
YoY Change -71.89% -35.94% 639.47%

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<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and, accordingly, ultimate results could differ from those estimates. Interim results are not necessarily indicative of full year performance.</span></div>
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CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
73000000 usd
us-gaap Net Income Loss
NetIncomeLoss
153000000 usd
us-gaap Net Income Loss
NetIncomeLoss
124000000 usd
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112000000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
122000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
122000000 shares
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.71
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.60
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.35
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.01
CY2022Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
7000000 shares
CY2022Q4 us-gaap Treasury Stock Value
TreasuryStockValue
272000000 usd
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
5000000 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
206000000 usd
CY2023Q2 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
12000000 shares
CY2023Q2 us-gaap Treasury Stock Value
TreasuryStockValue
478000000 usd
CY2023Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
522000000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2023Q2 us-gaap Revenues
Revenues
1007000000 usd
CY2022Q2 us-gaap Revenues
Revenues
948000000 usd
us-gaap Revenues
Revenues
1941000000 usd
us-gaap Revenues
Revenues
1727000000 usd
CY2023Q2 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
26000000 usd
CY2023Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
64000000 usd
CY2023Q2 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
3000000 usd
CY2023Q2 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
0 usd
CY2023Q2 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
0 usd
CY2023Q2 hgv Purchase Obligation Due After Fourth Year
PurchaseObligationDueAfterFourthYear
0 usd
CY2023Q2 us-gaap Purchase Obligation
PurchaseObligation
93000000 usd
CY2023Q2 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
119000000 usd

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0001628280-23-027131.txt Edgar Link pending
0001628280-23-027131-xbrl.zip Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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