Travel + Leisure Co. Q1 Profit Increases, but misses estimates

(RTTNews) - Travel + Leisure Co. (TNL) released earnings for its first quarter that increased from last year but missed the Street estimates.

The company's bottom line came in at $51 million, or $0.59 per share. This compares with $29 million, or $0.33 per share, in last year's first quarter.

Excluding items, Travel + Leisure Co. reported adjusted earnings of $60 million or $0.69 per share for the period.

Analysts on average had expected the company to earn $0.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 28.8% to $809 million from $628 million last year.

Travel + Leisure Co. earnings at a glance (GAAP) :

-Earnings (Q1): $51 Mln. vs. $29 Mln. last year. -EPS (Q1): $0.59 vs. $0.33 last year. -Analyst Estimate: $0.72 -Revenue (Q1): $809 Mln vs. $628 Mln last year.