Hilton Worldwide 8-K
PositiveEarningsNew guidance
World Cup and favorable calendar shifts underpin Q3 RevPAR outlook; non-RevPAR benefits expected in H2 boosted Q2 earnings.
Filed 2026-07-28 06:01 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q2 2026 results with Q3 and FY2026 guidance. Hilton’s comparable system-wide RevPAR rose 3.9% as both occupancy and average daily rate increased; management and franchise fee revenue grew 6.4%. Net income and Adjusted EBITDA also benefited from $17M of non-RevPAR items expected in H2 that occurred in Q2.
Key Figures
| Metric | Q2 2026 | Q2 2025 | Y/Y |
|---|---|---|---|
| Revenue | $3.34B | $3.14B | 6.5% |
| Operating income | $858M | $778M | 10.3% |
| Net income | $482M | $442M | 9.0% |
| Diluted EPS | $2.10 | $1.84 | 14.1% |
| Diluted EPS, adjusted for special items (non-GAAP) | $2.29 | $2.20 | 4.1% |
| Adjusted EBITDA (non-GAAP) | $1.05B | $1.01B | 4.6% |
- H1 revenue was $6.28B vs $5.83B; net income was $865M vs $742M; diluted EPS was $3.76 vs $3.07 and adjusted diluted EPS was $4.30 vs $3.92; Adjusted EBITDA was $1.96B vs $1.80B.
- Comparable system-wide RevPAR increased 3.9%. Hilton added 21,600 net rooms and approved 42,900 rooms for development; its 541,300-room pipeline was up 6% Y/Y.
- Repurchased 2.9M shares for $932M in Q2; quarterly capital return including dividends was $966M. July 23 shares outstanding were 225.1M. June 30 debt was $13.4B, excluding unamortized financing costs and discount, at a 5.03% weighted average rate; cash and cash equivalents were $1.064B, including $55M restricted. Issued $1.0B principal of 5.500% senior notes due 2031 and repaid $450M of revolver borrowings.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Comparable system-wide RevPAR growth, currency neutral | Q3 2026 | ≈4.0% | — | — |
| Diluted EPS (GAAP) | Q3 2026 | $2.20-$2.26 | — | — |
| Diluted EPS, adjusted for special items (non-GAAP) | Q3 2026 | $2.28-$2.34 | — | — |
| Net income | Q3 2026 | $502M-$516M | — | — |
| Adjusted EBITDA (non-GAAP) | Q3 2026 | $1.035B-$1.055B | — | — |
| Comparable system-wide RevPAR growth, currency neutral | FY2026 | 3.0%-3.5% | — | — |
| Diluted EPS (GAAP) | FY2026 | $8.22-$8.35 | — | — |
| Diluted EPS, adjusted for special items (non-GAAP) | FY2026 | $8.89-$9.01 | — | — |
| Net income | FY2026 | $1.883B-$1.911B | — | — |
| Net income attributable to Hilton stockholders | FY2026 | $1.884B-$1.912B | — | — |
| Adjusted EBITDA (non-GAAP) | FY2026 | $4.040B-$4.080B | — | — |
| Contract acquisition costs and capital expenditures, excluding third-party reimbursements | FY2026 | ≈$300M | — | — |
| Capital return | FY2026 | ≈$3.5B | — | — |
| General and administrative expenses | FY2026 | ≈$400M | — | — |
| Net unit growth | FY2026 | 6.0%-7.0% | — | — |
The outlook reflects expected Q3 benefits from the World Cup and favorable calendar shifts, with unfavorable calendar shifts and midterm elections expected to affect Q4. Hilton expects H2 2026 net unit growth to exceed H1.
Investor Takeaways
- Track Q3 comparable RevPAR against the ≈4.0% outlook and whether the stated calendar and World Cup effects materialize.
- FY2026 results will test the RevPAR, earnings and net unit growth ranges, with H2 expected to deliver stronger net unit growth.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3