Investor Presentaiton
WYNDHAM
ā«DESTINATIONS
2019 Guidance (in millions, except per share amounts)
2019 Guidance
2018A (a)
Low
High
Year-over-year
Growth at Midpoint
Net revenues
Vacation ownership
$3,140
Exchange & Rentals
905
$3,220
925
$3,016
5%
918
-%
Corporate and other
(5)
Total
$4,040
(5)
$4,140
(3)
$3,931
4%
Adjusted EBITDA
$990
$1,000
$942
6%
Separation and other costs (a)
15
Further adjusted EBITDA (a)
$990
$1,000
$957
4%
Stock-based compensation
(19)
(17)
(18)
Depreciation and amortization (b)
(113)
(111)
(121)
Net interest expense
Adjusted pre-tax income
Adjusted taxes (c)
(157)
(155)
(159)
$704
$714
$659
8%
(190)
(192)
(179)
Adjusted net income from continuing operations
Weighted average diluted shares outstanding
Adjusted diluted earnings per share from continuing operations
$514
$522
$480
8%
92.8
92.8
99.2
$5.54
$5.62
$4.84
15%
Note: Amounts may not add due to rounding. The Company is providing guidance for adjusted
net income from continuing operations, adjusted EBITDA and adjusted diluted EPS only on a
non-GAAP adjusted basis because not all of the information necessary for a quantitative
reconciliation of forward-looking non-GAAP financial measures to the most directly comparable
GAAP financial measures is available without unreasonable effort, primarily due to uncertainties
relating to the occurrence or amount of these adjustments or other potential adjustments that
may arise in the future.
2018 is adjusted to reflect results as if Wyndham Hotels & Resorts were separated from Wyndham Destinations and the sale of the European vacation
rentals business was completed for all periods.
(a)
(b)
(c)
Excludes amortization of acquisition-related intangible assets.
2019 guidance assumes an effective tax rate of 27%.
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