Travel & Leisure Co. — Form 8-K
Filed October 27, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 52/100
What the filing says
Travel & Leisure Co. reported Q3 2026 net revenue of $1.10 billion and net income of $108 million (diluted EPS $1.73). Adjusted EBITDA was $283 million, up 6% YoY; Adjusted diluted EPS was $2.21, up 23% YoY. The company raised full-year 2026 Adjusted EBITDA guidance midpoint to $1.0775 billion (range $1.070–$1.085 billion). Year-to-date, TNL invested ~$350 million in two acquisitions (Yes& Vacations and Spinnaker Resorts, closed Q3) and returned $364 million to shareholders ($250M buybacks, $114M dividends). Leverage ratio rose to 3.3x due to acquisition funding.
Why this rating
Modest growth (revenue +5% Q3, EBITDA +6%, EPS +23%) and guidance raise are positive but modest relative to $3.3B market cap. Acquisitions are strategic but integration risk exists; leverage at 3.3x is manageable but elevated.
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