Filing Flows › Hilton Grand Vacations (HGV) › Q3 2025
Hilton Grand Vacations (HGV) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Hilton Grand Vacations (HGV) reported revenue of $1.3B for the third quarter 2025 (Q3 2025), -0.5% from a year earlier and +3% from the quarter before. Operating margin was 9.3%, net earnings $25.0M (1.9% of revenue).
Hilton Grand Vacations, Q3 2025: revenue $1.3B (-0.5% year over year), operating margin 9.3%, net earnings $25.0M, operating cash flow $34.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +3% | -0.5% |
| Operating profit | $121M | +8% | -26% |
| Net earnings | $25.0M | 0% | -14% |
| Operating cash flow | $34.0M | -44% | -63% |
| Free cash flow | $13.0M | -72% | -84% |
What changed
Revenue was $1.3B in Q3 2025, roughly flat year over year and up 3% from the previous quarter. Sales of VOIs, net was the largest line at 36% of revenue. Sales of VOIs, net lost $0.08B year over year (down 14%), 1283% of the total change.
Operating profit was $0.12B, a 9.3% margin (down 3.2 points year over year). Total costs grew 3% against flat revenue. The fastest-growing cost line was General & admin (+32%). Net earnings were $0.03B, down 14% year over year. The effective tax rate was 33.3%.
Operating cash flow was $0.03B (down 63% year over year), 113% of net income including minority interests. Non-cash charges added back $0.07B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.08B. Capital expenditures of $0.02B left free cash flow of $0.01B.
Questions
What was Hilton Grand Vacations' revenue in the third quarter 2025?
Hilton Grand Vacations (HGV) reported revenue of $1.3B for the third quarter 2025 (Q3 2025), -0.5% from a year earlier and +3% from the quarter before.
Was Hilton Grand Vacations profitable in the third quarter 2025?
Operating profit was $121M (9.3% of revenue) and net earnings $25.0M.