Filing Flows › Hilton Grand Vacations (HGV) › Q3 2026 › vs Q2 2026
Hilton Grand Vacations (HGV) Q3 2026 vs Q2 2026 (quarter over quarter)
Hilton Grand Vacations's revenue rose $603M (+44%) from $1.4B in Q2 2026 to $2.0B in Q3 2026. The biggest changes: Sales of VOIs, net +$617M (+122%); Rental and ancillary services −$16.0M (-8%); Fee-for-service commissions, package sales and other fees −$13.0M (-8%). Operating margin 25.1% against 6.7% (+18.4 pts).
Hilton Grand Vacations, Q3 2026: revenue $2.0B (+51% year over year), operating margin 25.1%, net earnings $291M, operating cash flow $87.0M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 25.1% | 6.7% | +18.4 pts |
| Net margin | 14.8% | 0.9% | +14.0 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Sales of VOIs, net | $1.1B | $507M | $617M | +122% |
| Resort and club management | $196M | $189M | $7.0M | +4% |
| Rental and ancillary services | $194M | $210M | −$16.0M | -8% |
| Cost reimbursements | $153M | $150M | $3.0M | +2% |
| Financing | $149M | $144M | $5.0M | +3% |
| Fee-for-service commissions, package sales and other fees | $145M | $158M | −$13.0M | -8% |
| Revenue | $2.0B | $1.4B | $603M | +44% |
| Operating profit | $492M | $91.0M | $401M | +441% |
| Costs & expenses | $1.5B | $1.3B | $202M | +16% |
| Pre-tax earnings | $414M | $23.0M | $391M | 18× |
| Other expense, net | $78.0M | $68.0M | $10.0M | +15% |
| General & admin | $76.0M | $67.0M | $9.0M | +13% |
| Other operating costs | $1.4B | $1.2B | $193M | +16% |
| Net earnings | $291M | $12.0M | $279M | 24× |
| Minority interests | $6.0M | $3.0M | $3.0M | +100% |
| Income tax | $117M | $8.0M | $109M | 15× |
| Operating cash sources | $381M | $108M | $273M | +253% |
| Depreciation & amortization | $70.0M | $71.0M | −$1.0M | -1% |
| Share-based compensation | $20.0M | $25.0M | −$5.0M | -20% |
| Working capital & other | $294M | −$26.0M | $320M | — |
| Operating cash flow | $87.0M | $134M | −$47.0M | -35% |
Questions
How much did Hilton Grand Vacations's revenue grow quarter over quarter in Q3 2026?
Hilton Grand Vacations's revenue rose $603M (+44%) from $1.4B in Q2 2026 to $2.0B in Q3 2026.
What drove Hilton Grand Vacations's revenue change in Q3 2026?
Sales of VOIs, net +$617M (+122%); Rental and ancillary services −$16.0M (-8%); Fee-for-service commissions, package sales and other fees −$13.0M (-8%).