Filing Flows › Travel & Leisure (TNL) › Q2 2026
Travel & Leisure (TNL) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 22, 2026
Travel & Leisure (TNL) reported revenue of $1.1B for the second quarter 2026 (Q2 2026), +4% from a year earlier and +11% from the quarter before. Operating margin was 19.8%, net earnings $109M (10.3% of revenue).
Travel & Leisure, Q2 2026: revenue $1.1B (+4% year over year), operating margin 19.8%, net earnings $109M, operating cash flow $220M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +11% | +4% |
| Operating profit | $210M | +32% | +2% |
| Net earnings | $109M | +38% | +0.9% |
| Operating cash flow | $220M | +479% | -5% |
| Free cash flow | $195M | +926% | 0% |
What changed
Revenue was $1.1B in Q2 2026, up 4% year over year and up 11% from the previous quarter. Vacation ownership interest sales was the largest line at 49% of revenue. Vacation ownership interest sales added $0.05B year over year (up 11%), 111% of the total change. Service and membership fees declined 3%.
Operating profit was $0.21B, a 19.8% margin (down 0.5 points year over year). Of the extra revenue versus Q2 2025, 9% reached operating profit, below the 20% margin then. Total costs grew 5% against revenue growth of 4%. The fastest-growing cost line was Cost of revenue (+38%). Net earnings were $0.11B, up 1% year over year. The effective tax rate was 29.7%.
Operating cash flow was $0.22B (down 5% year over year), 202% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.06B. Capital expenditures of $0.03B left free cash flow of $0.20B.
Questions
What was Travel & Leisure's revenue in the second quarter 2026?
Travel & Leisure (TNL) reported revenue of $1.1B for the second quarter 2026 (Q2 2026), +4% from a year earlier and +11% from the quarter before.
Was Travel & Leisure profitable in the second quarter 2026?
Operating profit was $210M (19.8% of revenue) and net earnings $109M.
Source: Travel & Leisure 10-Q on SEC EDGAR.