Filing Flows › Hilton Grand Vacations (HGV) › Q3 2026
Hilton Grand Vacations (HGV) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 29, 2026
Hilton Grand Vacations (HGV) reported revenue of $2.0B for the third quarter 2026 (Q3 2026), +51% from a year earlier and +44% from the quarter before. Operating margin was 25.1%, net earnings $291M (14.8% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.0B | +44% | +51% |
| Operating profit | $492M | +441% | +307% |
| Net earnings | $291M | 24× | 12× |
| Operating cash flow | $87.0M | -35% | +156% |
| Free cash flow | $52.0M | — | — |
What changed
Revenue was $2.0B in Q3 2026, up 51% year over year and up 44% from the previous quarter. Sales of VOIs, net was the largest line at 57% of revenue. Sales of VOIs, net added $0.65B year over year (up 138%), 98% of the total change. Fee-for-service commissions, package sales and other fees declined 23%.
Operating profit was $0.49B, a 25.1% margin (up 15.8 points year over year). Of the extra revenue versus Q3 2025, 56% reached operating profit, above the 9% margin then. Total costs grew 25% against revenue growth of 51%. The fastest-growing cost line was General & admin (+31%). Net earnings were $0.29B, up 1064% year over year. The effective tax rate was 28.3%.
Operating cash flow was $0.09B (up 156% year over year), 29% 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 $0.30B. After software capitalization costs ($0.02B) and capital expenditures for property and equipment ($0.01B), free cash flow as the company reports it was $0.05B.
Questions
What was Hilton Grand Vacations' revenue in the third quarter 2026?
Hilton Grand Vacations (HGV) reported revenue of $2.0B for the third quarter 2026 (Q3 2026), +51% from a year earlier and +44% from the quarter before.
Was Hilton Grand Vacations profitable in the third quarter 2026?
Operating profit was $492M (25.1% of revenue) and net earnings $291M.