Wyndham 10-Q Details Q3 Beat: $99M Net Income, $207M EBITDA, Record 264,000-Room Pipeline
WH is trading near its 52-week low of $66.87 (14% above the low).
Summary
Wyndham's Q3 10-Q backs up the October 21 beat with $99M of net income, $207M adjusted EBITDA and $226M of nine-month operating cash flow, while detailing a record ~264,000-room pipeline and the accounting for its Revo franchisee foreclosure.
Key Events · Earnings and Guidance · WH
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Q3 Results Confirmed in Full
Net revenues of $410M versus $382M a year ago, operating income of $172M versus $178M, and diluted EPS of $1.33 versus $1.36; adjusted EBITDA came in at $207M.
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Nine-Month Cash Flow and Capital Returns
Operating cash flow of $226M versus $215M, funding $196M of buybacks (2.5M shares at an average $76.95) and $98M of dividends, with $479M left on the repurchase authorization after a $400M September increase.
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Record Pipeline of 264,000 Rooms
Over 2,200 hotels and approximately 264,000 rooms, up 4% year-over-year excluding Revo, with 78% new construction and a fee-per-available-room premium of roughly 30% to the existing system.
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Revo Foreclosure and Restricted Cash
Wyndham took ownership of two European hotels with $23M of estimated net asset fair value after the Revo insolvency, wrote off $13M of loans and $10M of development advance notes, and holds $19M of restricted cash pending court adjudication that may take years.
Analysis · WH · Real Estate & Construction
The headline numbers were already out on October 21, but the 10-Q is where the balance-sheet and cash-flow story lives. Nine-month operating cash flow rose to $226M from $215M, and the company returned $294M to shareholders year-to-date ($196M buybacks at an average $76.95 plus $98M of dividends) while still growing the pipeline to a record ~264,000 rooms. The one soft spot is the Revo franchisee insolvency: Wyndham foreclosed on two European hotels worth $23M of net assets and carries $19M of restricted cash whose ultimate recovery depends on insolvency courts that could take years. Leverage is comfortable — first-lien ratio of 2.0x against a 5.0x covenant and $917M of undrawn revolver capacity — so the buyback and dividend are not straining the balance sheet.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 29.3% of the 1529 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WH was trading at $76.14 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $5.7B. The 52-week trading range was $66.87 to $90.35. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.