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Travel + Leisure TNL Q2 2025 earnings

Reported July 23, 2025 · Before market open

Revenue$1.0BMiss by $21.7M
EPS$1.65Miss by $0.01
Revenue estimate$1.0B
EPS estimate$1.66

Next report

Oct 28, 2026 (in 3 months)
Revenue estimate$1.1B
EPS estimate$2.07

Financials

Q2 2025

Income statement

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Revenue$1.0B+3.4%
Gross profit$997.0M+3.4%
Operating income$206.0M+9.0%
Net income$108.0M-16.3%
EPS (diluted)$1.62-10.5%

Balance sheet

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Cash & equivalents$387.0M+16.6%
Total debt$4.3B+2.9%
Total equity-$852.0M+3.7%
Total assets$6.8B+1.7%

Cash flow

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Operating cash flow$232.0M+33.3%
CapEx$37.0M+76.2%
Free cash flow$195.0M+27.5%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$3.34B+4.0%
Enterprise value$7.28B+2.8%
P/E8.4×+1.0×
P/S0.9×0.0×

Profitability

See full
Gross margin97.9%+1.2pp
Operating margin19.3%+0.1pp
Net margin10.1%-1.2pp
FCF margin12.6%+2.8pp

Segments

By product

See full
Vacation ownership interest sales$474.0M+7.5%
Consumer financing$112.0M+0.9%
Deferred subscription revenue$43.0M-2.3%

By geography

See full
UNITED STATES$886.3M+4.1%

Versus estimates

Revenue

Q2 2026$1.1BBeat by $20.9MQ1 2026$961.0MBeat by $6.1MQ4 2025$1.0BBeat by $25.6MQ3 2025$1.0BBeat by $43.6M
Q2 2025$1.0BMiss by $21.7M
Q1 2025$934.0MMiss by $74.0M

Diluted EPS

Q2 2026$1.88In lineQ1 2026$1.45Beat by $0.14Q4 2025$1.83In lineQ3 2025$1.80Beat by $0.08
Q2 2025$1.65Miss by $0.01
Q1 2025$1.11Beat by $0.01

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Questions, answered.

When did Travel + Leisure report Q2 2025 earnings?
Travel + Leisure (TNL) reported Q2 2025 earnings on July 23, 2025 before market open.
What were Travel + Leisure's Q2 2025 revenue and EPS?
Travel + Leisure reported revenue of $1.0B and eps of $1.65 for Q2 2025.
Did Travel + Leisure beat estimates in Q2 2025?
Revenue missed the consensus estimate of $1.0B by $21.7M. EPS missed the consensus estimate of $1.66 by $0.01.
How did Travel + Leisure's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 3.4% from $985.0M a year earlier and eps grew 8.6% from $1.52.
Where can I find Travel + Leisure's Q2 2025 SEC filings?
You can read the 10-Q periodic report (0001361658-25-000258) directly on SEC EDGAR. The filing index links above go to sec.gov.