Resorts & Development

Wyndham Destinations reports Q4 and full-year 2019 results

Wyndham Destinations has reported positive fourth quarter and full-year 2019 financial results for the period ended 31 December 2019, its first full year as a standalone company.

Highlights include:

  • Net VOI sales increased 4% to $464 million; gross VOI sales increased 3% to $582 million in the fourth quarter
  • Fourth quarter GAAP diluted EPS from continuing operations increased 57% to $1.73
  • Adjusted diluted EPS from continuing operations in the fourth quarter increased 24% to $1.58
  • Net income from continuing operations increased 46% to $155 million and adjusted net income from continuing operations increased 15% to $142 million in the fourth quarter
  • Fourth quarter adjusted EBITDA increased 10% to $265 million (1)
  • Delivered full-year net cash provided by operating activities from continuing operations of $453 million (55% increase) and adjusted free cash flow from continuing operations of $617 million (6% increase)
  • Repurchased 7.6 million shares of common stock for $340 million in 2019
  • Full-year 2020 Adjusted EBITDA is projected to be between $1.03 billion and $1.05 billion
  • The Board of Directors authorised an 11% increase in the quarterly dividend to $0.50 per share

Michael D. Brown, president and CEO of Wyndham Destinations, said: “In our first full year as a standalone public company, Wyndham Destinations delivered on our promise to provide value to shareholders through steady growth, strong margins and robust free cash flow.

“We are pleased with our fourth quarter and full-year results as adjusted EBITDA, gross VOI sales and tours each grew four per cent in 2019.

“We delivered full-year adjusted free cash flow of $617 million, further demonstrating the strength in our underlying business model and our continued focus on the optimisation of our balance sheet.

“Our business has steady momentum and we believe we’re well-positioned for growth in 2020. As we begin the year, our priorities remain the same – delivering great vacations for our owners and members while providing strong returns for our shareholders.”