Travel + Leisure Q3 Profit Declines But Beats View

(RTTNews) - Travel + Leisure Co. (TNL), a timeshare company, Wednesday reported a profit of $97 million or $1.39 per share for the third quarter, lower than $110 million or $1.49 per share in the same quarter a year ago, primarily due to increase in expenses.

Excluding one-time items, earnings were $110 million or $1.57 per share, that beat the analysts average estimate of $1.49 per share.

Operating income declined to $189 million from $207 million last year.

Revenue for the quarter, however, grew to $993 million from $986 million in the previous year. The consensus estimate was for $1.01 billion.

The company plans to recommend a dividend of $0.50 per share for the fourth quarter.