Jun 2026 (Q2 FY26) — Jul 22, 2026
Travel + Leisure Q2 FY26 — Strong Performance and Accretive Acquisitions Drive Raised Outlook
Read the full callTravel + Leisure earnings: last reported Wed, 22 Jul 2026, for the quarter ended Jun 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,063 | +4.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 19.8 | −0.5 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 109 | +0.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
37 of 39 judged targets kept · 28 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 FY26 adjusted EBITDA | $260 million to $270 million | Mar 2026 | we generated revenue of $1.06 billion and EBITDA of $269 million | Achieved |
| FY26 full-year adjusted EBITDA | $1.03 billion to $1.055 billion | Dec 2025 | we now expect full year gross VOI sales of $2.6 billion to $2.675 billion and EBITDA of $1.065 billion to $1.085 billion. | Revised Up |
| Accor Vacation Club FY26 VOI sales growth | nearly double VOI sales in 2026 | Mar 2026 | Accor Vacation Club sales remain on track to nearly double in 2026 | On Track |
2 of Travel & Leisure Co.'s 67 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 64 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: $69.91 on 22 Oct 2025 → $64.93. High $78.74 (14 Apr 2026), low $61.25 (17 Nov 2025).
Overview
Guidance
37 of 39 judged targets kept · 28 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 FY26 adjusted EBITDA | $260 million to $270 million | Mar 2026 | we generated revenue of $1.06 billion and EBITDA of $269 million | Achieved |
| FY26 full-year adjusted EBITDA | $1.03 billion to $1.055 billion | Dec 2025 | we now expect full year gross VOI sales of $2.6 billion to $2.675 billion and EBITDA of $1.065 billion to $1.085 billion. | Revised Up |
| Accor Vacation Club FY26 VOI sales growth | nearly double VOI sales in 2026 | Mar 2026 | Accor Vacation Club sales remain on track to nearly double in 2026 | On Track |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 67 tracked commitments, with each call’s wording and source.
Call summaries
Travel + Leisure Q2 FY26 — Strong Performance and Accretive Acquisitions Drive Raised Outlook
Read the full callTravel + Leisure Co. Q1 FY26 — Strong VOI Performance Drives Outsized EPS Growth
Read the full callEvery analysed call
Financials
Net profit, year on year: +1% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 993 | 970 | 934 | 1,018 | 1,044 | 1,025 | 961 | 1,063 |
| Expenses | 804 | 765 | 778 | 812 | 830 | 1,048 | 802 | 853 |
| Operating profit | 189 | 205 | 156 | 206 | 214 | -23 | 159 | 210 |
| Operating margin | 19.0% | 21.1% | 16.7% | 20.2% | 20.5% | −2.2% | 16.6% | 19.8% |
| Interest | 63 | — | — | — | — | — | — | — |
| Profit before tax | 130 | 158 | 101 | 152 | 158 | -74 | 108 | 155 |
| Tax rate | 25.4% | 25.3% | 27.7% | 28.9% | 29.8% | 16.2% | 26.9% | 29.7% |
| Net profit | 97 | 119 | 73 | 108 | 111 | -62 | 79 | 109 |
| EPS ($ per share) | 1.40 | — | 1.09 | 1.63 | 1.70 | — | 1.25 | 1.75 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 |
| Reserves | 1,442 | 1,785 | 1,390 | 1,587 | 1,808 | 2,067 | 2,334 | 2,412 |
| Total liabilities | 7,727 | 7,977 | 8,581 | 7,382 | 7,661 | 7,655 | 7,615 | 7,742 |
| Fixed assets | 712 | 680 | 666 | 689 | 658 | 655 | 591 | 531 |
| Investments | 25 | 35 | 26 | 21 | 18 | 19 | 18 | 18 |
| Total assets | 7,158 | 7,453 | 7,613 | 6,588 | 6,757 | 6,738 | 6,735 | 6,760 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 442 | 452 | 374 | 568 | 442 | 350 | 464 | 640 |
| Cash from investing | -725 | -66 | -65 | -93 | -50 | -80 | -124 | -107 |
| Cash from financing | 280 | -289 | 502 | -1,288 | -196 | -500 | -458 | -443 |
| Net cash flow | -12 | 98 | 815 | -820 | 191 | -230 | -129 | 97 |
| Capital expenditure | -99 | -108 | -69 | -57 | -52 | -74 | -81 | -117 |
| Free cash flow | 343 | 344 | 305 | 511 | 390 | 276 | 383 | 523 |
Vacation Ownership grew from 83% to 85% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Vacation Ownership | 83% | — | 81% | 84% | 84% | — | 83% | 85% | +6.3% |
| Travel and Membership | 17% | — | 19% | 16% | 16% | — | 17% | 15% | -5.4% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
116 filings between Oct 27, 2025 and Aug 26, 2026.
Purchases
$65.7K
1 purchase by 1 insider
Sales
$36.09M
29 sales by 10 insiders
31% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Also filed: 7 dispositions to the issuer, 2 gifts.
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| RICHARDS GEOFFREY | — | $9.09M | Jul 27, 2026 |
| Brown Michael Dean | — | $8.07M | Aug 6, 2026 |
| MYERS JEFFREY | — | $5.96M | Aug 4, 2026 |
| MARSHALL KIMBERLY | — | $4.42M | Jul 23, 2026 |
| ESFAHANI SY | — | $4.10M | Aug 4, 2026 |
| Savina James J | — | $2.22M | Mar 17, 2026 |
| Duncan Thomas Michael | — | $1.48M | Aug 26, 2026 |
| ROBIN-CAPLAN AMANDINE | — | $291.3K | Feb 20, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 26, 2026 | Duncan Thomas Michael SVP, Chief Accounting Officer | Sale | 20,000 | $1.48M |
| Aug 25, 2026 | ROBIN-CAPLAN AMANDINE See remarks | Award | 4,291 | $0 |
| Aug 25, 2026 | ROBIN-CAPLAN AMANDINE See remarks | Tax withheld | 1,689 | $124.4K |
| Aug 6, 2026 | Brown Michael Dean See Remarks | Sale 10b5-1 plan | 200 | $15.8K |
| Aug 6, 2026 | Brown Michael Dean See Remarks | Option exercise 10b5-1 plan | 200 | $8.9K |
| Aug 5, 2026 | Brown Michael Dean See Remarks | Option exercise 10b5-1 plan | 4,150 | $184.2K |
| Aug 5, 2026 | Brown Michael Dean See Remarks | Sale 10b5-1 plan | 4,150 | $328.8K |
| Aug 4, 2026 | MYERS JEFFREY See Remarks | Sale | 34,000 | $2.64M |
| Aug 4, 2026 | ESFAHANI SY Chief Technology Officer | Sale | 52,617 | $4.10M |
| Jul 27, 2026 | RICHARDS GEOFFREY See Remarks | Sale | 33,744 | $2.55M |
| Jul 23, 2026 | MARSHALL KIMBERLY Chief Human Resources Officer | Sale | 32,691 | $2.45M |
| Jun 16, 2026 | HERRERA GEORGE Director | Sale | 500 | $37.6K |
| Jun 4, 2026 | MARSHALL KIMBERLY Chief Human Resources Officer | Sale | 28,000 | $1.96M |
| May 25, 2026 | Hoag Erik D Chief Financial Officer | Award | 24,541 | $0 |
| May 25, 2026 | Hoag Erik D Chief Financial Officer | Tax withheld | 9,658 | $628.9K |
| May 14, 2026 | Post Denny Marie Director | Sale | 2,500 | $159.6K |
| Apr 23, 2026 | Hoag Erik D Chief Financial Officer | Purchase | 1,000 | $65.7K |
| Apr 17, 2026 | Brown Michael Dean See Remarks | Sale 10b5-1 plan | 9,443 | $747.0K |
| Apr 17, 2026 | Brown Michael Dean See Remarks | Option exercise 10b5-1 plan | 9,443 | $419.1K |
| Apr 16, 2026 | Brown Michael Dean See Remarks | Option exercise 10b5-1 plan | 1,109 | $49.2K |
| Apr 16, 2026 | Brown Michael Dean See Remarks | Sale 10b5-1 plan | 1,109 | $87.8K |
| Mar 31, 2026 | Brady Louise F. Director | Award | 802 | $0 |
| Mar 31, 2026 | Wargotz Michael H Director | Award | 1,193 | $0 |
| Mar 31, 2026 | RICKLES RONALD L Director | Award | 488 | $0 |
| Mar 31, 2026 | Post Denny Marie Director | Award | 399 | $0 |
| Mar 31, 2026 | HERRERA GEORGE Director | Award | 402 | $0 |
| Mar 31, 2026 | MARTINEZ LUCINDA Director | Award | 40 | $0 |
| Mar 31, 2026 | HOLMES STEPHEN P Director | Award | 494 | $0 |
| Mar 31, 2026 | BUCKMAN JAMES E Director | Award | 1,188 | $0 |
| Mar 18, 2026 | HERRERA GEORGE Director | Sale | 1,748 | $122.9K |
| Mar 17, 2026 | Savina James J See Remarks | Sale | 31,596 | $2.22M |
| Mar 17, 2026 | HERRERA GEORGE Director | Sale | 1,214 | $85.6K |
| Mar 15, 2026 | MARSHALL KIMBERLY Chief Human Resources Officer | Tax withheld | 2,266 | $155.3K |
| Mar 15, 2026 | RICHARDS GEOFFREY See Remarks | Award | 13,277 | $0 |
| Mar 15, 2026 | Brown Michael Dean See Remarks | Tax withheld | 11,429 | $783.2K |
| Mar 15, 2026 | ESFAHANI SY Chief Technology Officer | Award | 4,979 | $0 |
| Mar 15, 2026 | Duncan Thomas Michael SVP, Chief Accounting Officer | Award | 1,037 | $0 |
| Mar 15, 2026 | RICHARDS GEOFFREY See Remarks | Tax withheld | 5,225 | $358.1K |
| Mar 15, 2026 | MARSHALL KIMBERLY Chief Human Resources Officer | Award | 5,757 | $0 |
| Mar 15, 2026 | MYERS JEFFREY See Remarks | Tax withheld | 5,225 | $358.1K |
| Mar 15, 2026 | MYERS JEFFREY See Remarks | Award | 13,277 | $0 |
| Mar 15, 2026 | Duncan Thomas Michael SVP, Chief Accounting Officer | Tax withheld | 253 | $17.3K |
| Mar 15, 2026 | Savina James J See Remarks | Tax withheld | 2,939 | $201.4K |
| Mar 15, 2026 | Savina James J See Remarks | Award | 7,468 | $0 |
| Mar 15, 2026 | ROBIN-CAPLAN AMANDINE See Remarks | Tax withheld | 1,143 | $78.3K |
| Mar 15, 2026 | Brown Michael Dean See Remarks | Award | 29,044 | $0 |
| Mar 15, 2026 | ROBIN-CAPLAN AMANDINE See Remarks | Award | 2,904 | $0 |
| Mar 15, 2026 | ESFAHANI SY Chief Technology Officer | Tax withheld | 1,960 | $134.3K |
| Mar 11, 2026 | Wargotz Michael H Director | Award | 3,671 | $0 |
| Mar 11, 2026 | Post Denny Marie Director | Award | 3,478 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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