Travel + Leisure Co. (TNL), a leisure travel company, on Wednesday reported a net loss for the fourth quarter, mainly due to higher expenses. However, the company recorded an increase in revenue, helped by 5% tour growth and 2% volume per guest growth.
For the three-month period to December 31, 2025, the company reported a net loss of $61 million, or $0.95 per share, compared with a net profit of $119 million, or $1.75 per share, in the same period last year. This net loss includes $210 million in inventory write-downs and impairments related to the resort optimization initiative.
Excluding items, income was $120 million, or $1.83 per share, higher than $119 million, or $1.72 per share, last year. Excluding items, EBITDA rose to $272 million from $252 million in the prior year.
Loss before tax was $73 million as against a profit of $158 million a year ago. Operating loss stood at $22 million, compared with a profit of $206 million in 2024. Total expenses moved up to $1.048 billion from the prior year's $765 million.
Revenue increased to $1.026 billion from $971 million in the previous year, helped by the performance of almost all segments. Net VOI sales increased to $495 million from $456 million a year ago.
For the first quarter of fiscal 2026, the management will pay a dividend of $0.60 per share.
Looking ahead, for the first quarter of fiscal 2026, Travel + Leisure expects adjusted EBITDA of $210 million to $220 million, higher than the $202 million recorded for the first quarter of fiscal 2025.
For fiscal 2026, the travel company anticipates adjusted EBITDA of $1.030 billion to $1.055 billion, higher than the $990 million recorded for fiscal 2025.
TNL was up by 0.05% at $72.90 in the pre-market trade on the New York Stock Exchange.
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