Travel + Leisure Co. (NYSE:TNL) Q2 2024 Earnings Conference Call July 24, 2024 8:30 AM ET

Company Participants

Jill Greer - VP, IR
Michael Brown - President & CEO
Mike Hug - CFO

Conference Call Participants

Chris Woronka - Deutsche Bank
Patrick Scholes - Truist Securities
David Katz - Jefferies
Brandt Montour - Barclays
Dany Asad - Bank of America
Ian Zaffino - Oppenheimer

Operator

Hello, and welcome to the Travel + Leisure Second Quarter 2024 Earnings Conference Call and Webcast. [Operator Instructions]. A question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded.

It's now my pleasure to turn the call over to Jill Greer, Vice President, Investor Relations. Please go ahead, Jill.

Jill Greer

Thanks, Kevin. Good morning to everyone, and thanks for dialing in. Joining us this morning are, Michael Brown, our President and Chief Executive Officer; and Mike Hug, our Chief Financial Officer. Michael will provide an overview of our financial results and our longer-term growth strategy, and Mike will then provide greater detail on the quarter, our balance sheet, and outlook for the rest of the year. Following our prepared remarks, we'll open the call up for questions.

Before we begin, we'd like to remind you that our discussions today will include forward-looking statements. Actual results could differ materially from those indicated in the forward-looking statements, and the forward-looking statements made today are effective only as of today. We undertake no obligation to publicly update or revise these statements. The factors that could cause actual results to differ are discussed in our SEC filings and in our earnings press release.

You can find a reconciliation of non-GAAP financial measures discussed in today's call in the earnings release available on our Investor Relations website. Finally, all comparisons today are to the same period of the prior year unless specifically stated.

With that, I'm pleased to turn the call over to Michael Brown.

Michael Brown

Good morning and thank you to everyone for joining us today.

This morning we released our second quarter results, which showed top-line growth, healthy margins, and strong free cash flow. Revenues grew 4% to $985 million with adjusted EBITDA of $244 million at the high end of our guidance range.

We have a resilient and value-driven business model are executing well against our key priorities for the year, and demand for our product remains solid, all of which factored into our decision to increase our full year EBITDA guidance.