Conference Call
Hilton Grand Vacations will host a conference call on Nov. 6, 2023, at 9 a.m. (ET) to discuss third quarter results.
To access the live teleconference, please dial
1-877-407-0784 in the U.S./Canada (or +1-201-689-8560 internationally) approximately 15 minutes prior to the teleconferences start time. A live webcast will also be available by logging onto the HGV Investor Relations website at
https://investors.hgv.com.
In the event of audio difficulties during the call on the toll-free number, participants are advised that accessing the
call using the +1-201-689-8560 dial-in number may bypass the source of audio
difficulties.
A replay will be available within 24 hours after the teleconferences completion through Nov. 13, 2023. To access the replay, please
dial 1-844-512-2921 in the U.S.
(+1-412-317-6671 internationally) using ID#13735181. A webcast replay and transcript will also be available within 24 hours after
the live event at https://investors.hgv.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of
the Securities Exchange Act of 1934, as amended. Forward-looking statements convey managements expectations as to the future of HGV, and are based on managements beliefs, expectations, assumptions and such plans, estimates, projections
and other information available to management at the time HGV makes such statements. Forward-looking statements include all statements that are not historical facts, and may be identified by terminology such as the words outlook,
believe, expect, potential, goal, continues, may, will, should, could, would, seeks, approximately,
projects, predicts, intends, plans, estimates, anticipates, future, guidance, target, or the negative version of these words or other
comparable words, although not all forward-looking statements may contain such words. The forward-looking statements contained in this press release include statements related to HGVs revenues, earnings, taxes, cash flow and related financial
and operating measures, and expectations with respect to future operating, financial and business performance and other anticipated future events and expectations that are not historical facts.
HGV cautions you that our forward-looking statements involve known and unknown risks, uncertainties and other factors, including those that are beyond
HGVs control, which may cause the actual results, performance or achievements to be materially different from the future results. Any one or more of these risks or uncertainties could adversely impact HGVs operations, revenue, operating
profits and margins, key business operational metrics, financial condition or credit rating.
For a more detailed discussion of these factors, see the
information under the captions Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations in HGVs most recent Annual Report on Form
10-K, which may be supplemented and updated by the risk factors in HGVs quarterly reports, current reports and other filings HGV makes with the SEC.
HGVs forward-looking statements speak only as of the date of this communication or as of the date they are made. HGV disclaims any intent or obligation
to update any forward-looking statement made in this communication to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
Non-GAAP Financial Measures
The Company refers to certain non-GAAP financial measures in this press release, including Adjusted Net Income or Loss,
Adjusted Diluted EPS, EBITDA, Adjusted EBITDA, EBITDA profit margin, Adjusted EBITDA profit margin, Free Cash Flow and Adjusted Free Cash Flow, profits and profit margins for HGVs key activities - real estate, financing, resort and club
management, and rental and ancillary services. Please see the tables in this press release and Definitions for additional information and reconciliations of such non-GAAP financial measures.
The Company believes these additional measures are also important in helping investors understand the performance and efficiency with which we are able to
convert revenues for each of these key activities into operating profit, both in dollars and as margins, and are frequently used by securities analysts, investors and other interested parties as one of common performance measures to compare results
or estimate valuations across companies in our industry.
The Company refers to Adjusted EBITDA guidance excluding deferrals and recognitions, which does
not take into account any future deferrals of revenues and direct expenses related to the sales of VOIs under construction that are recognized, only on a non-GAAP basis, as the quantification of reconciling
items to the most directly comparable U.S. GAAP financial measure is not readily available without unreasonable effort due to uncertainties associated with the timing and amount of such items. These items may create a material difference between the
non-GAAP and comparable U.S. GAAP results.
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