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AI brief of an SEC Form 8-K · Travel + Leisure (TNL)

Travel + Leisure Co. swings to $61 million Q4 loss on $210 million charge; 2026 outlook given

Mixed Impact 4 of 5 earnings Written later

Travel + Leisure Co. (TNL) reported a fourth-quarter 2025 net loss of $61 million, or $0.95 per diluted share, compared with net income of $119 million a year earlier, after $210 million of inventory write-downs and impairments tied to its Resort Optimization Initiative. Fourth-quarter revenue rose 6% to $1.03 billion, while full-year 2025 net income was $230 million, down from $411 million. The company guided 2026 Adjusted EBITDA to $1,030 million to $1,055 million and its Board approved a new $750 million share repurchase authorization.

Key points

  • Q4 2025 net loss of $61 million (diluted loss of $0.95 per share) vs. net income of $119 million in Q4 2024
  • Q4 2025 revenue of $1.03 billion; full-year 2025 net income of $230 million, diluted EPS of $3.44, Adjusted EBITDA of $990 million
  • 2026 full-year Adjusted EBITDA guidance of $1,030 million to $1,055 million; management will recommend a Q1 2026 dividend of $0.60 per share
  • Board approved a new $750 million share repurchase authorization

The filing

CompanyTravel + Leisure (TNL)
Form8-K, current report
Filed with the SECFeb 18, 2026, 6:31 AM ET
Accession number0001361658-26-000005

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 18, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.