Travel + Leisure Co. (TNL), a prominent entity in the timeshare industry, announced on Wednesday a third-quarter profit of $97 million, equating to $1.39 per share. This marks a decrease from the previous year's $110 million or $1.49 per share, largely attributable to rising expenses.
After adjustments for non-recurring items, the company's earnings stood at $110 million, or $1.57 per share, surpassing the analysts' average projection of $1.49 per share.
The company's operating income experienced a decline, falling to $189 million from the previous year's figure of $207 million.
Despite these challenges, quarterly revenue exhibited growth, increasing to $993 million from $986 million in the same period last year, although it fell short of the $1.01 billion analysts had anticipated.
Looking ahead, the company plans to propose a dividend of $0.50 per share for the fourth quarter.
