Filing Flows › Hilton Worldwide Holdings (HLT) › Q3 2026 › vs Q2 2026
Hilton Worldwide Holdings (HLT) Q3 2026 vs Q2 2026 (quarter over quarter)
Hilton Worldwide Holdings's revenue fell $16.0M (-0.5%) from $3.3B in Q2 2026 to $3.3B in Q3 2026. The biggest changes: Reimbursement Revenue −$15.0M (-0.8%); Total revenues excluding reimbursable revenues −$1.0M (-0.1%). Operating margin 27.3% against 25.7% (+1.7 pts).
Hilton Worldwide Holdings, Q3 2026: revenue $3.3B (+7% year over year), operating margin 27.3%, net earnings $536M, operating cash flow $721M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 27.3% | 25.7% | +1.7 pts |
| Net margin | 16.1% | 14.4% | +1.7 pts |
| Free cash flow margin | 20.7% | 13.8% | +7.0 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Franchise and licensing fees | $815M | $808M | $7.0M | +0.9% |
| Ownership | $304M | $311M | −$7.0M | -2% |
| Base and other management fees | $96.0M | $99.0M | −$3.0M | -3% |
| Other revenues | $72.0M | $72.0M | $0 | 0% |
| Incentive management fees | $71.0M | $69.0M | $2.0M | +3% |
| Total revenues excluding reimbursable revenues | $1.4B | $1.4B | −$1.0M | -0.1% |
| Reimbursement Revenue | $2.0B | $2.0B | −$15.0M | -0.8% |
| Revenue | $3.3B | $3.3B | −$16.0M | -0.5% |
| Operating profit | $909M | $858M | $51.0M | +6% |
| Costs & expenses | $2.4B | $2.5B | −$67.0M | -3% |
| Pre-tax earnings | $722M | $680M | $42.0M | +6% |
| Other expense, net | $187M | $178M | $9.0M | +5% |
| General & admin | $110M | $114M | −$4.0M | -4% |
| Other operating costs | $2.3B | $2.4B | −$63.0M | -3% |
| Net earnings | $536M | $482M | $54.0M | +11% |
| Income tax | $186M | $198M | −$12.0M | -6% |
| Depreciation & amortization | $52.0M | $49.0M | $3.0M | +6% |
| Share-based compensation | $59.0M | $61.0M | −$2.0M | -3% |
| Working capital & other | $74.0M | −$120M | $194M | — |
| Operating cash flow | $721M | $472M | $249M | +53% |
| Free cash flow (OCF − capex) | $689M | $460M | $229M | +50% |
| Capital expenditures | $32.0M | $12.0M | $20.0M | +167% |
Questions
How much did Hilton Worldwide Holdings's revenue grow quarter over quarter in Q3 2026?
Hilton Worldwide Holdings's revenue fell $16.0M (-0.5%) from $3.3B in Q2 2026 to $3.3B in Q3 2026.
What drove Hilton Worldwide Holdings's revenue change in Q3 2026?
Reimbursement Revenue −$15.0M (-0.8%); Total revenues excluding reimbursable revenues −$1.0M (-0.1%).