Filing Flows › Hilton Grand Vacations (HGV) › Q1 2026
Hilton Grand Vacations (HGV) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Hilton Grand Vacations (HGV) reported revenue of $1.3B for the first quarter 2026 (Q1 2026), +12% from a year earlier and -4% from the quarter before. Operating margin was 11.1%, net earnings $66.0M (5.1% of revenue).
Hilton Grand Vacations, Q1 2026: revenue $1.3B (+12% year over year), operating margin 11.1%, net earnings $66.0M, operating cash flow $128M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | -4% | +12% |
| Operating profit | $143M | -14% | +138% |
| Net earnings | $66.0M | +38% | — |
| Operating cash flow | $128M | -23% | +237% |
| Free cash flow | $108M | — | 18× |
What changed
Revenue was $1.3B in Q1 2026, up 12% year over year and down 4% from the previous quarter. Sales of VOIs, net was the largest line at 35% of revenue. Sales of VOIs, net added $0.08B year over year (up 20%), 56% of the total change.
Operating profit was $0.14B, a 11.1% margin (up 5.9 points year over year). Of the extra revenue versus Q1 2025, 61% reached operating profit, above the 5% margin then. Total costs grew 5% against revenue growth of 12%. Net earnings were $0.07B. The effective tax rate was 8.1%.
Operating cash flow was $0.13B (up 237% year over year), 188% of net income including minority interests. Non-cash charges added back $0.07B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.02B. After software capitalization costs ($0.01B) and capital expenditures for property and equipment ($0.01B), free cash flow as the company reports it was $0.11B.
Questions
What was Hilton Grand Vacations' revenue in the first quarter 2026?
Hilton Grand Vacations (HGV) reported revenue of $1.3B for the first quarter 2026 (Q1 2026), +12% from a year earlier and -4% from the quarter before.
Was Hilton Grand Vacations profitable in the first quarter 2026?
Operating profit was $143M (11.1% of revenue) and net earnings $66.0M.