Filing Flows › Hilton Grand Vacations (HGV) › Q2 2026
Hilton Grand Vacations (HGV) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 30, 2026
Hilton Grand Vacations (HGV) reported revenue of $1.4B for the second quarter 2026 (Q2 2026), +7% from a year earlier and +6% from the quarter before. Operating margin was 6.7%, net earnings $12.0M (0.9% of revenue).
Hilton Grand Vacations, Q2 2026: revenue $1.4B (+7% year over year), operating margin 6.7%, net earnings $12.0M, operating cash flow $134M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | +6% | +7% |
| Operating profit | $91.0M | -36% | -19% |
| Net earnings | $12.0M | -82% | -52% |
| Operating cash flow | $134M | +5% | +120% |
| Free cash flow | $113M | — | — |
What changed
Revenue was $1.4B in Q2 2026, up 7% year over year and up 6% from the previous quarter. Sales of VOIs, net was the largest line at 37% of revenue. Sales of VOIs, net added $0.04B year over year (up 8%), 41% of the total change. Fee-for-service commissions, package sales and other fees declined 4%.
Operating profit was $0.09B, a 6.7% margin (down 2.1 points year over year). Operating profit fell $0.02B even though revenue rose $0.09B versus Q2 2025, so costs grew faster than sales. Total costs grew 10% against revenue growth of 7%. The fastest-growing cost line was General & admin (+16%). Net earnings were $0.01B, down 52% year over year. The effective tax rate was 34.8%.
Operating cash flow was $0.13B (up 120% year over year), 893% of net income including minority interests. Non-cash charges added back $0.07B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.02B. After software capitalization costs ($0.02B) and capital expenditures for property and equipment ($3.0M), free cash flow as the company reports it was $0.11B.
Questions
What was Hilton Grand Vacations' revenue in the second quarter 2026?
Hilton Grand Vacations (HGV) reported revenue of $1.4B for the second quarter 2026 (Q2 2026), +7% from a year earlier and +6% from the quarter before.
Was Hilton Grand Vacations profitable in the second quarter 2026?
Operating profit was $91.0M (6.7% of revenue) and net earnings $12.0M.