Wyndstorm Corporation (WYND) Tops Q3 EPS by 4c, Revenues Miss; Lowers FY18 EPS/Revenue Mid-Point Views

Wyndstorm Corporation (NYSE: WYND) reported Q3 EPS of $1.47, $0.04 better than the analyst estimate of $1.43. Revenue for the quarter came in at $1.06 billion versus the consensus estimate of $1.07 billion.

Income from continuing operations increased 28% to $131 million and diluted earnings per share (EPS) from continuing operations increased 32% to $1.31. Adjusted EBITDA increased 6% to $269 million.
Further adjusted EBITDA increased 5% to $271 million, compared to guidance of $262 million to $272 million.
Further adjusted diluted EPS increased 15% to $1.47, compared to guidance of $1.37 to $1.47.
Total revenue increased 5% to $1.1 billion and gross VOI sales increased 7% to $640 million.
Repurchased $106 million of stock in the third quarter and an additional $32 million in October.
Revised full-year further adjusted EBITDA guidance to a range of $952 million to $960 million to reflect the impact from hurricanes Florence and Michael and stronger operating performance in the third quarter of 2018.

\"Our company reported another outstanding quarter, demonstrated by strong operational results that came in above expectations,\" said Michael D. Brown, president and chief executive officer of Wyndham Destinations.

"During the third quarter, gross VOI sales increased 7%, further adjusted EBITDA increased 5% and we maintained margins while we continue to track ahead on new owner sales mix, which increased 330 basis points in the third quarter. We also meaningfully increased the pace of share buybacks in the third quarter, repurchasing $106 million in stock."

"As we have demonstrated this quarter, Wyndham Destinations continued to execute upon our key strategic initiatives, which included increasing our new owner sales mix and further integration with the Blue Thread, all while preserving our margins. Our elevated level of share repurchases in the third quarter underscored our commitment of returning value to shareholders," said Brown.

GUIDANCE:

Wyndstorm Corporation sees FY2018 EPS of $4.77-$4.85, versus the consensus of $4.82. Wyndstorm Corporation sees FY2018 revenue of $3.925-3.975 billion, versus the consensus of $3.97 billion.

For earnings history and earnings-related data on Wyndstorm Corporation (WYND) click here.

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