Travel + Leisure Co. (NYSE:TNL) Q1 2025 Earnings Conference Call April 23, 2025 8:30 AM ET Company Participants Mike Hug - Chief Financial Officer Michael Brown - President & Chief Executive Officer Conference Call Participants David Katz - Jefferies Patrick Scholes - Truist Securities Dany Asad - Bank of America Chris Woronka - Deutsche Bank Lizzie Dove - Goldman Sachs Asset Management Ben Chaiken - Mizuho Securities Stephen Grambling - Morgan Stanley Brandt Montour - Barclays Operator Welcome to the Trave ...

For the quarter ended March 2025, Travel + Leisure Co. (TNL) reported revenue of $934 million, up 2% over the same period last year. EPS came in at $1.11, compared to $0.97 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $934.58 million, representing a surprise of -0.06%. The company delivered an EPS surprise of +0.91%, with the consensus EPS estimate being $1.10.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Str ...

Financial Performance - Gross VOI sales increased by 4.5% to $512 million for the three months ended March 31, 2025, compared to $490 million in the same period last year [176]. - Net revenues rose by $18 million to $934 million for the three months ended March 31, 2025, with a foreign currency impact of $4 million [177]. - Net income attributable to Travel + Leisure Co. shareholders increased by $7 million to $73 million for the three months ended March 31, 2025 [180]. - Net revenues for the Vacation Ownership segment increased by $30 million to $755 million for the three months ended March 31, 2025, compared to $725 million in the same period of 2024, with a $2 million unfavorable impact from foreign currency [182]. - Travel and Membership segment net revenues decreased by $13 million to $180 million, primarily due to a $9 million decrease in transaction revenue and a $2 million decrease in subscription revenues [185]. - Total Company Adjusted EBITDA increased by $11 million to $202 million for the three months ended March 31, 2025, compared to $191 million in the same period of 2024 [182]. Operational Metrics - Volume per guest (VPG) increased by 5.8% to $3,212, reflecting consumers' recognition of the value proposition of the company's products [176]. - Adjusted EBITDA margin improved sequentially in the Travel and Membership business due to cost-saving initiatives, despite lower revenues from decreased member counts [167]. - Adjusted EBITDA for the Vacation Ownership segment rose by $24 million to $159 million, driven by a 5.8% increase in VPG due to a higher owner upgrade transaction mix [184]. - The number of exchange transactions decreased by 12.6% to 240,000, while total transactions fell by 6.7% to 415,000 [176]. Cash Flow and Liquidity - Net cash provided by operating activities increased by $74 million to $121 million for the three months ended March 31, 2025, compared to $47 million in the prior year [215]. - Net cash used in investing activities decreased by $35 million to $(22) million during the three months ended March 31, 2025, primarily due to a $40 million acquisition of Accor Vacation Club in 2024 [216]. - Net cash used in financing activities was $(63) million for the three months ended March 31, 2025, compared to $203 million provided in the prior year, reflecting a $274 million decrease in net proceeds from corporate debt [217]. - The company closed on securitization financings of $350 million during the first quarter of 2025, reinforcing its liquidity position [205]. - The company expects to finance capital spending programs and vacation ownership development projects primarily with cash flow generated from operations and cash equivalents [223]. Debt and Interest - Interest expense decreased by $7 million to $57 million due to a lower average outstanding debt balance and reduced interest rates on variable borrowings [178]. - As of March 31, 2025, total debt amounts to $3.493 billion, with non-recourse debt at $2.200 billion and interest on debt at $1.100 billion [210]. - The total outstanding balance of variable rate borrowings at March 31, 2025, was $1.365 billion, including $295 million in non-recourse debt and $1.07 billion in corporate debt [233]. - A hypothetical 10% change in interest rates would result in a $1 million increase or decrease in annual consumer financing interest expense and a $6 million increase or decrease in annual debt interest expense for Q1 2025 [232]. - As of March 31, 2025, the interest coverage ratio was 4.48 to 1.0 and the first lien leverage ratio was 3.31 to 1.0, indicating compliance with financial covenants [200]. Assets and Liabilities - Total assets increased by $29 million to $6,764 million as of March 31, 2025, primarily due to a $39 million increase in prepaid expenses and a $21 million increase in cash and cash equivalents [191]. - Total liabilities increased by $52 million to $7,667 million, mainly due to a $51 million increase in non-recourse vacation ownership debt [194]. - The company had $188 million in cash and cash equivalents as of March 31, 2025, which includes highly liquid investments [197]. - The revolving credit facility had $785 million of available capacity as of March 31, 2025, and is set to expire in October 2026 [198]. Shareholder Returns - The share repurchase program has a total authorization of $7.0 billion, with $373 million remaining available as of March 31, 2025 [224]. - Cash dividends paid were $0.56 per share during Q1 2025, totaling $41 million, compared to $0.50 per share and $38 million in Q1 2024 [226]. Expenses - Property management expenses increased by $11 million due to higher resort operating costs [181]. - The company continues to face pressure on its loan portfolio due to elevated delinquencies compared to historical levels [169]. - The company spent $22 million on vacation ownership development projects during the three months ended March 31, 2025, with anticipated full-year spending between $150 million and $180 million [220].

NEW YORK and TOKYO, April 22, 2025 /PRNewswire/ -- TNL Mediagene (Nasdaq: TNMG), a Tokyo-based next-generation digital media and data group in Asia, today publicly filed its Company Snapshot presentation highlighting key aspects of its business including preliminary 2024 Revenue and Adjusted EBITDA Guidance:30%+ Year-on-Year Revenue Growth in FY2024: The group achieved a revenue increase of more than 30% year-over-year. Revenue growth was driven by diversification into tech- and data-powered products, inclu ...

National Park Week Begins April 19ORLANDO, Fla., April 18, 2025 (GLOBE NEWSWIRE) -- America’s 63 National Parks draw in serious hikers, and they also provide opportunities for beginners and families alike to unwind, take their time and soak in nature’s beauty. For National Park Week and beyond, the program offers expert content to help travelers make the most of their time outdoors. The adventure-loving vacation club WorldMark by Wyndham has proudly teamed up with America’s Park Ranger, Ash Nudd, as the Wor ...

Travel + Leisure Co. (TNL) shares rallied 13.2% in the last trading session to close at $43.89. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 19.6% loss over the past four weeks.Following President Trump's announcement to suspend U.S. tariffs on most countries for 90 days, Travel + Leisure shares soared, reflecting renewed investor optimism.This company is expected to post quarterly earnings of $1.11 per sh ...

Event Overview - The Food & Wine Classic in Charleston will take place from November 14-16, 2025, and tickets will go on sale on May 15, 2025 [1][2] - The event is presented by Explore Charleston and aims to showcase Charleston's culinary scene [1][2] Event Highlights - The festival will feature over 40 culinary stars and local talents, including Emeril and EJ Lagasse, Tyler Florence, and Melissa King, among others [3] - Signature events include cooking demonstrations, wine and cocktail seminars, and the Grand Tasting, which will feature hundreds of winemakers and culinary experts [3] Special Events - Southern Living's Lowcountry Tailgate will return, featuring BBQ by local legends and music, celebrating Southern culture [4] - Additional programming will include exclusive experiences curated by Travel + Leisure, highlighting local dining and shopping [5] Sponsorship and Economic Impact - Explore Charleston is the presenting sponsor, with additional sponsors including Discover South Carolina and Lexus [6] - The Charleston region's travel and hospitality industry supported over 51,000 jobs and generated an economic impact of over $12.8 billion in 2022 [11]

Co-organized by the Generative AI Conference committee and TNL Mediagene, the two-day conference will feature a split agenda: the Generative AI Developers Conference on May 23, followed by the Generative AI Conference on May 24. This dual format allows tailored content for developers, business professionals, and AI enthusiasts alike. "Our mission is to bridge the gap between cutting-edge AI development and real-world applications," said Mu Yueh Lee, curator of the Generative AI Conference. "Since our first ...

NEW YORK and TOKYO, March 19, 2025 /PRNewswire/ -- Mediagene Inc., a group company of TNL Mediagene (NASDAQ: TNMG), is pleased to announce the start of distribution for Labrador CMS in the Japanese market. Developed by LABRADOR CMS AS (Tordenskioldsgate 2, 0854 Oslo, Norway), Labrador CMS is an innovative content management system (CMS) designed specifically for professional news publishers.About Labrador CMSLabrador CMS is a cloud-based CMS developed for news publishers. It utilizes cutting-edge headless C ...

Core Concept - The article introduces "Brandformance" as an approach that enhances branding while improving performance [1] Group 1: Brandformance Strategy - The company develops brand content measures that not only increase the number of users considering a purchase but also enhance their desire to buy, aiming to improve overall effectiveness and efficiency [2] - Mediagene's content strategy drives user engagement from awareness to purchase, utilizing the unique characteristics of each medium [7] Group 2: Strengths of Mediagene - Mediagene has established itself as a trusted media brand by accumulating authentic content over many years, which aids in brand awareness and drives user purchases [4] - The company creates easy-to-understand content tailored to the target audience, effectively communicating the value of advertisers' products [5] - Mediagene designs compelling narratives around problem-solving and benefits, engaging audiences through contextually relevant stories [6] Group 3: Company Overview - TNL Mediagene, formed from the merger of The News Lens Co. and Mediagene Inc. in May 2023, operates across multiple languages and subjects, including news, business, and technology [7][8] - The company prides itself on political neutrality, quality content, and its reach with younger audiences, employing approximately 550 staff across Asia [8]