Filing Flows › Travel & Leisure (TNL) › Q3 2026
Travel & Leisure (TNL) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 27, 2026
Travel & Leisure (TNL) reported revenue of $1.1B for the third quarter 2026 (Q3 2026), +5% from a year earlier and +4% from the quarter before. Operating margin was 17.7%, net earnings $108M (9.8% of revenue).
Travel & Leisure, Q3 2026: revenue $1.1B (+6% year over year), operating margin 17.7%, net earnings $108M, operating cash flow $130M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +4% | +5% |
| Operating profit | $195M | -7% | -9% |
| Net earnings | $108M | -0.9% | -3% |
| Operating cash flow | $130M | -41% | -20% |
| Free cash flow | $111M | -43% | -18% |
What changed
Revenue was $1.1B in Q3 2026, up 5% year over year and up 4% from the previous quarter. Vacation ownership interest sales was the largest line at 50% of revenue. Vacation ownership interest sales added $0.05B year over year (up 10%), 89% of the total change.
Operating profit was $0.20B, a 17.7% margin (down 2.8 points year over year). Operating profit fell $0.02B even though revenue rose $0.06B versus Q3 2025, so costs grew faster than sales. Total costs grew 9% against revenue growth of 5%. The fastest-growing cost line was Cost of revenue (+69%). Net earnings were $0.11B, down 3% year over year. The effective tax rate was 26.0%.
Operating cash flow was $0.13B (down 20% year over year), 120% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.03B. Capital expenditures of $0.02B left free cash flow of $0.11B.
Questions
What was Travel & Leisure's revenue in the third quarter 2026?
Travel & Leisure (TNL) reported revenue of $1.1B for the third quarter 2026 (Q3 2026), +5% from a year earlier and +4% from the quarter before.
Was Travel & Leisure profitable in the third quarter 2026?
Operating profit was $195M (17.7% of revenue) and net earnings $108M.
Source: Travel & Leisure 10-Q on SEC EDGAR.