Travel + Leisure Q4 Adj. EPS Tops Estimates, But Revenues Miss
(RTTNews) - Leisure travel company Travel + Leisure Co. (TNL) reported Wednesday that net income attributable to TNL shareholders for the fourth quarter decreased to $90 million or $1.13 per share from $107 million or $1.23 per share in the prior-year quarter.
Excluding items, adjusted earnings were $1.30 per share, compared to $1.19 per share last year.
Net revenues for the quarter grew to $899 million from $870 million in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to earn $1.22 per share on revenues of $907.34 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead, the company expects adjusted EBITDA in a range of $170 million to $180 million for the first quarter and adjusted EBITDA in a range of $920 million to $940 million for fiscal 2023.
The Company also said it will recommend increasing first quarter 2023 dividend to $0.45 per share for approval by the Board of Directors.
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