Technitrol, Inc. (NYSE: TNL) reported Q1 EPS of $0.39, $0.19 better than the analyst estimate of $0.20. Revenue for the quarter came in at $628 million versus the consensus estimate of $579.07 million.

Highlights and outlook include:

• Net income of $29 million and diluted earnings per share of $0.33 on net revenue of $628 million
• Adjusted EBITDA of $129 million and adjusted diluted earnings per share of $0.39 (1)
• Net cash provided by operating activities of $78 million and adjusted free cash flow of $20 million for the first three months of 2021
• Fully paid down revolving credit facility and $250 million of secured notes
• Executed $500 million term securitization with best terms in Company history
• Expects second quarter adjusted EBITDA from $160 million to $170 million
• Management will recommend a second quarter dividend of $0.30 per share for approval by the Board of Directors

"Our operating performance strengthened significantly in March, with a robust sequential improvement in our key metrics," commented Michael D. Brown, president and CEO of Travel + Leisure Co. "Increased consumer confidence, reduced travel restrictions, and the vaccine roll-out have all helped to accelerate bookings and leisure travel demand."

"We are encouraged by the strength of booking trends in March and into April in both the Vacation Ownership and Travel and Membership segments. In March, North American bookings for 2021-arrivals at both our businesses were up double-digits versus 2019, after double-digit declines in January and February. We are clearly seeing an inflection in travel sentiment which we believe points to a strong recovery in leisure travel heading into the summer," said Brown.

Outlook

The Company is providing guidance regarding expectations for the second quarter of 2021:

• Adjusted EBITDA of $160 million to $170 million
• Gross VOI sales of $355 million to $365 million
• Tours of 118,000 to 123,000
• VPG to be approximately $2,800

For earnings history and earnings-related data on Technitrol, Inc. (TNL) click here.