Bluegreen Vacations Corporation Reports Financial Results for the Fourth Quarter and Full Year 2020
Bluegreen Vacations Corporation (BXG) reported its financial results for Q4 and FY 2020. Q4 net income was $7.0 million, down from $10.6 million YoY, with EPS at $0.10 compared to $0.14 last year. Adjusted EBITDA fell to $19.8 million from $30.0 million. Total revenue in Q4 was $151.2 million, a decrease from $183.9 million in Q4 2019, though up from $144.6 million in Q3 2020. System-wide sales of vacation ownership interests (VOIs) were $112.2 million, down from $155.5 million YoY. Despite challenges from COVID-19, the company reported a 54% increase in free cash flow to $70.8 million for 2020.
- Q4 free cash flow increased by 54% to $70.8 million from $46.1 million in 2019.
- System-wide sales of VOIs in Q4 increased by 7.6% from Q3 2020.
- Average sales volume per guest (VPG) rose by 8% in Q4 compared to Q4 2019.
- Net income decreased by 34% in Q4 2020 compared to Q4 2019.
- Total revenue in 2020 decreased by 29.6% to $521.1 million from $740.2 million in 2019.
- Adjusted EBITDA fell to $49.4 million in 2020, down from $121.8 million in 2019.
Bluegreen Vacations Corporation (NYSE: BXG) ("Bluegreen" or the “Company") reported today its financial results for the quarter and year ended December 31, 2020.
Fourth Quarter 2020 Highlights:
-
Net income attributable to shareholders was
$7.0 million in the current year fourth quarter compared to$10.6 million in the prior year quarter. -
Earnings Per Share (“EPS”) was
$0.10 in the current year fourth quarter, compared to$0.14 in the prior year quarter. -
Adjusted EBITDA attributable to shareholders decreased to
$19.8 million in the current year fourth quarter, compared to$30.0 million in the prior year quarter. -
Total revenue increased to
$151.2 million in the current year quarter from$144.6 million in the third quarter of 2020, but decreased from the$183.9 million total revenue in the prior year fourth quarter. -
System-wide sales of vacation ownership interests (“VOIs”) increased to
$112.2 million in the current year fourth quarter from$104.3 million in the third quarter of 2020, but decreased from$155.5 million in the prior year fourth quarter. -
The current year quarter’s results were adversely affected by the economic impact of the COVID-19 pandemic. In response to the pandemic, Bluegreen had temporarily closed all of its VOI sales centers in the last week of March 2020 but by December 31, 2020, the Company:
- was operating marketing kiosks at 98 Bass Pro Shops and Cabela’s stores, including 10 new Cabela’s locations;
- had reactivated the Choice Hotels call transfer program;
-
had reopened all of its resorts (resort occupancy rates for the fourth quarter of 2020 at resorts with sales centers was approximately
71% , compared to80% in the fourth quarter of 2019); - and reopened all but two of its VOI sales centers.
-
Average sales volume per guest (“VPG”) increased
8% in the current year quarter compared to the fourth quarter of 2019. -
The Company completed a private offering and sale of approximately
$131.0 million of VOI receivable-backed notes in October 2020.
Full Year 2020 Highlights:
-
Net income attributable to shareholders was
$8.2 million in 2020 compared to$34.9 million in 2019. -
EPS was
$0.11 in 2020, compared to$0.47 in 2019. -
Adjusted EBITDA attributable to shareholders decreased to
$49.4 million in 2020, compared to$121.8 million in 2019. -
Total revenue decreased to
$521.1 million in 2020 from$740.2 million in 2019. -
System-wide sales of VOIs decreased to
$367.0 million in 2020 from$619.1 million in 2019. -
Free cash flow increased to
$70.8 million in 2020, an increase of54% from$46.1 million in 2019.
Alan B. Levan, Chairman, President and Chief Executive Officer of Bluegreen, commented, “We continue to be encouraged by the results of our ongoing focus on safely reopening our resorts and our sales and marketing operations after closing substantially all of these operations in March 2020 in response to the COVID-19 pandemic. We are very pleased with the pace of the rebound in our fourth quarter system-wide sales of VOIs, which at
Mr. Levan continued, “As discussed in more detail in a separate press release, starting in the fourth quarter of 2019 and throughout 2020, we have redesigned and enhanced our sales and marketing infrastructure as part of the Bluegreen Renewal initiative investing in refreshing the physical appearance of our sales centers and marketing materials throughout the Company and our strategy includes pursuing a regional focus with each region led by senior vice presidents, each of whom have over 20 years of timeshare sales and marketing experience. In addition, we relocated our national sales leadership to Knoxville, TN, a central hub to Bluegreen’s sales and marketing footprint, headed by industry-veteran, Dusty Tonkin, as Bluegreen’s Executive Vice President, Chief Sales and Marketing Officer. Most importantly, we believe this strategy has made Bluegreen more agile to take advantage of opportunities for sales and marketing expansion in each region as market conditions allow.”
Mr. Levan concluded, “We are also pleased to report the continuing rebound in our vacation package sales despite the COVID-19 pandemic. We sold over 43,000 vacation packages in the fourth quarter, compared to approximately 55,000 in the fourth quarter of 2019. We’ve recommenced our marketing operations at 98 Bass Pro Shops and Cabela’s stores, including opening marketing kiosks at 10 new Cabela’s stores, and anticipate operating marketing kiosks in over 120 Bass Pro and Cabela’s store locations by the end of 2021. The Bass Pro/Cabela’s vacation package program now exceeds pre-pandemic volumes in the aggregate, and we look forward to the growth in VOI sales that we hope will follow from the growth in package sales. We also value our relationship with Choice Hotels and the historically successful call-transfer program with Choice. While this program continues to run at volumes commensurate with lower travel due to COVID-19, we believe that volumes of vacation packages sold through this program will return to historical levels as travel recovers.”
Financial Results
(dollars in millions, except per share data)
|
Three Months Ended December 31, |
|
Year Ended December 31, |
||||||||||||||
|
2020 |
|
2019 |
|
Change |
|
2020 |
|
2019 |
|
Change |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue |
$ |
151.2 |
|
$ |
183.9 |
|
(17.8) |
% |
|
$ |
521.1 |
|
$ |
740.2 |
|
(29.6) |
% |
Income before non-controlling interest and provision for income taxes |
$ |
12.5 |
|
$ |
15.7 |
|
(20.4) |
% |
|
$ |
18.8 |
|
$ |
58.3 |
|
(67.8) |
% |
Net income attributable to shareholders |
$ |
7.0 |
|
$ |
10.6 |
|
(34.0) |
% |
|
$ |
8.2 |
|
$ |
34.9 |
|
(76.5) |
% |
Earnings per share basic and diluted |
$ |
0.10 |
|
$ |
0.14 |
|
(28.6) |
% |
|
$ |
0.11 |
|
$ |
0.47 |
|
(76.6) |
% |
Adjusted EBITDA Attributable to Shareholders (1) |
$ |
19.8 |
|
$ |
30.0 |
|
(34.0) |
% |
|
$ |
49.4 |
|
$ |
121.8 |
|
(59.4) |
% |
Capital-light revenue (2) as a percentage of total revenue |
|
|
|
|
|
|
280 |
bp |
|
|
|
|
|
|
|
(100) |
bp |
(1) |
See Appendix for reconciliation of Adjusted EBITDA Attributable to Shareholders to Net Income Attributable to Shareholders. |
(2) |
Bluegreen's "capital-light" revenue includes revenue from sales of VOIs under fee-based sales and marketing arrangements, just-in-time inventory acquisition arrangements, and secondary market arrangements, as well as other fee-based services revenue and cost reimbursements revenue. |
Adjusted EBITDA was
Segment Results
Sales of VOIs and Financing Segment
(dollars in millions, except per guest and per transaction amounts)
|
Three Months Ended December 31, |
|
Year Ended December 31, |
||||||||||||||
|
2020 |
|
2019 |
|
Change |
|
2020 |
|
2019 |
|
Change |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
System-wide sales of VOIs |
$ |
112.2 |
|
$ |
155.5 |
|
(27.8) |
% |
$ |
367.0 |
|
$ |
619.1 |
|
(40.7) |
% |
|
Segment adjusted EBITDA |
$ |
22.5 |
|
$ |
35.2 |
|
(36.1) |
% |
$ |
46.9 |
|
$ |
143.6 |
|
(67.3) |
% |
|
Sales offices |
|
24 |
|
|
26 |
|
(7.7) |
% |
|
24 |
|
|
26 |
|
(7.7) |
% |
|
Sales offices selling to new prospects |
|
18 |
|
|
19 |
|
(5.3) |
% |
|
18 |
|
|
19 |
|
(5.3) |
% |
|
Guest Tours |
|
37,779 |
|
|
56,662 |
|
(33.3) |
% |
|
120,801 |
|
|
235,842 |
|
(48.8) |
% |
|
Average sales price per transaction |
$ |
17,213 |
|
$ |
15,359 |
|
12.1 |
% |
$ |
16,586 |
|
$ |
15,307 |
|
8.4 |
% |
|
Selling and marketing expenses, as a |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% of system-wide sales of VOIs |
|
|
|
|
|
|
170 |
bp |
|
|
|
|
|
|
730 |
bp |
|
Sales to tour conversion ratio |
|
|
|
|
|
|
(70) |
bp |
|
|
|
|
|
|
110 |
bp |
|
Sales volume per guest ("VPG") |
$ |
2,976 |
|
$ |
2,758 |
|
7.9 |
% |
$ |
3,046 |
|
$ |
2,642 |
|
15.3 |
% |
|
Number of Bass Pro and Cabela's |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
marketing locations |
|
98 |
|
|
83 |
|
18.1 |
% |
|
98 |
|
|
83 |
|
18.1 |
% |
|
Number of vacation packages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
outstanding, beginning of the period (1) |
|
134,619 |
|
|
163,205 |
|
(17.5) |
% |
|
169,294 |
|
|
163,100 |
|
3.8 |
% |
|
Number of vacation packages sold |
|
43,632 |
|
|
54,898 |
|
(20.5) |
% |
|
131,970 |
|
|
205,161 |
|
(35.7) |
% |
|
Number of vacation packages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
outstanding, end of the period (1) |
|
121,915 |
|
|
169,294 |
|
(28.0) |
% |
|
121,915 |
|
|
169,294 |
|
(28.0) |
% |
|
Provision for loan losses |
|
|
|
|
|
|
(150) |
bp |
|
|
|
|
|
|
680 |
bp |
|
Cost of VOIs sold |
|
|
|
|
|
|
180 |
bp |
|
|
|
|
|
|
(80) |
bp |
|
Financing revenue, net of financing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
expense |
$ |
15,226 |
|
$ |
15,353 |
|
(0.8) |
% |
$ |
61,883 |
|
$ |
60,454 |
|
2.4 |
% |
|
(1) |
Excludes vacation packages sold to customers more than one year prior to the period presented and vacation packages sold to customers who had already toured but purchased an additional vacation package. |
System-wide sales of VOIs
System-wide sales of VOIs were
Fee-based sales commission revenue
Fee-based sales commission revenue was
Selling and Marketing Expenses
Selling and marketing expenses were
During the fourth quarter of 2020 we sold 43,632 vacation packages, compared to 54,898 vacation packages sold in the fourth quarter of 2019. This decrease reflects lower vacation package sales through the Choice program and other programs that were reduced or terminated, partially offset by an increase of
As recently announced, Bluegreen returned as the entitlement sponsor for The Bluegreen Vacations Duel At DAYTONA, a pair of 150-mile qualifying races for the DAYTONA 500 at Daytona International Speedway. Bluegreen believes that this sponsorship and other aspects of its relationship with NASCAR provide Bluegreen’s owners with experiences at NASCAR races that will be a driver of additional upgrade sales as well as to provide the Company an opportunity to introduce its resorts and destinations to NASCAR fans.
Provision for Loan Losses
The provision for loan losses varies based on the amount of financed, non fee-based sales during the period and changes in our estimates of future notes receivable performance for existing and newly originated loans. The provision for loan losses as a percentage of gross sales of VOIs was
The COVID-19 pandemic has had a material adverse impact on unemployment in the United States and economic conditions in general and the impact may continue for some time. The Company believes that the COVID-19 pandemic will continue to have an impact on the collectability of its VOI notes receivable. Accordingly, the Company increased its estimate of defaults for the 2021 year based on its historical experience, forbearance requests received from its customers, and other factors, including, but not limited to, the seasoning of the notes receivable and FICO scores of the customers; however there is no assurance that the allowance for loan losses will prove to be adequate.
The Company continues to monitor and address the activity of so-called third-party timeshare exit firms and aggressively pursue its previously announced “zero tolerance strategy” in an effort to protect Bluegreen’s timeshare owners against the unscrupulous actions of these firms. Some of these firms have increased their activities during the COVID-19 pandemic and the Company will continue to consider appropriate courses of action regarding this industry-wide issue. As previously announced, Bluegreen and the bankruptcy trustee for American Resort Management Group (“ARMG”), one of the so-called timeshare exit firms, ultimately entered into a court-approved settlement in connection with Bluegreen’s suit against ARMG which allowed
Net Carrying Cost of Inventory
Net carrying cost of inventory increased
General and Administrative Expense
General and Administrative Expense related to the Company’s sales and marketing operations decreased
Financing Revenue, net of Financing Expense
Interest income on VOI notes receivable decreased
Resort Operations and Club Management Segment
(dollars in millions)
|
Three Months Ended December 31, |
|
Year Ended December 31, |
||||||||||||||
|
2020 |
|
2019 |
|
% Change |
|
2020 |
|
2019 |
|
% Change |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Resort operations and club management |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
revenue |
$ |
43.7 |
|
$ |
42.0 |
|
4.0 |
% |
|
$ |
168.6 |
|
$ |
174.9 |
|
(3.6) |
% |
Segment adjusted EBITDA |
$ |
16.0 |
|
$ |
14.9 |
|
7.4 |
% |
|
$ |
65.4 |
|
$ |
59.9 |
|
9.2 |
% |
Resorts managed |
|
49 |
|
|
49 |
|
— |
% |
|
|
49 |
|
|
49 |
|
— |
% |
In the fourth quarter of 2020, resort operations and management club revenue increased by
Corporate and Other
Adjusted EBITDA related to Corporate and Other decreased
Balance Sheet and Liquidity
As of December 31, 2020, unrestricted cash and cash equivalents totaled
Subject to eligible collateral and the terms of the facilities, the Company had approximately
Free cash flow, which the Company defines as cash flow from operating activities less capital expenditures, was
Non-GAAP Financial Measures
The Company refers to certain non-GAAP financial measures in this press release, including system-wide sales of VOIs, adjusted EBITDA attributable to shareholders and free cash flow. Please see the supplemental tables and definitions attached herein for additional information and reconciliation of such non-GAAP financial measures.
About Bluegreen Vacations Corporation: Bluegreen Vacations Corporation (NYSE: BXG) is a leading vacation ownership company that markets and sells vacation ownership interests and manages resorts in popular leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with 68 Club and Club Associate Resorts and access to nearly 11,300 other hotels and resorts through partnerships and exchange networks. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services to, or on behalf of, third parties. Bluegreen Vacations Corporation is approximately
About Bluegreen Vacations Holding Corporation: Bluegreen Vacations Holding Corporation (NYSE: BVH) (OTCQX: BVHBB) (formerly BBX Capital Corporation), is a Florida-based holding company whose sole investment is its approximate
Forward-Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements are based on current expectations of management and can be identified by the use of words such as “believe”, “may”, “could”, “should”, “plans”, “anticipates”, “intends”, “estimates”, “expects”, and other words and phrases of similar impact. Forward-looking statements involve a number of risks, uncertainties and other factors, many of which are beyond our control, that may cause actual results or performance to differ from those set forth or implied in the forward-looking statements. These risks and uncertainties include, without limitation, risks relating to public health issues, including in particular the COVID-19 pandemic and the effects of the pandemic, including resort closures, travel and business restrictions, volatility in the international and national economy and credit markets, worker absenteeism, quarantines and other health related restrictions; the length and severity of the COVID-19 pandemic and our ability to successfully resume full business operations thereafter; governmental and agency orders, mandates and guidance in response to the COVID-19 pandemic and the duration thereof, which is uncertain and will impact our ability to fully utilize resorts and operate sales centers and other marketing activities; the pace of recovery following the COVID-19 pandemic; the risk that resorts and sales operations, including those at Bass Pro and Cabela’s store locations, may be subject to additional closures in the future, particularly in locations where COVID-19 cases have increased; competitive conditions; our liquidity and the availability of capital; our ability to successfully implement our strategic plans and initiatives to navigate the COVID-19 pandemic; risks that default rates may increase and exceed the Company’s expectations, including due to the impact on consumers of the COVID-19 pandemic and if our efforts to address the actions of timeshare exit firms and the increase in default rates associated therewith are not successful; risks related to our indebtedness, including the potential for accelerated maturities and debt covenant violations; the risk of heightened litigation as a result of actions taken in response to the COVID-19 pandemic; the impact of the COVID-19 pandemic on our operations and our payment of regular or special dividends in the future, including that we have suspended the payment of regular quarterly cash dividends due to the impact of the COVID-19 pandemic, and the payment of dividends may not be resumed (or, if resumed, the amounts thereof may not be consistent with historical rates); the impact of the COVID-19 pandemic on consumers, including their income, their level of discretionary spending both during and after the pandemic, and their views towards travel and the vacation ownership industries; the risk that our strategic alliances and arrangements, including our marketing arrangements with Bass Pro and the Choice Hotels program and our relationship with NASCAR and sponsorship of the Duel at Daytona race, may not result in the benefits anticipated, including increased VOI sales and that sales from the Choice Hotels program may not return to pre-pandemic levels; risks associated with the Bluegreen Renewal initiative, including that the initiative and expenses associated therewith, including with respect to sales centers and marketing activities, may not result in increased sales or revenues or otherwise in the benefits anticipated; the risk that the improvement in operating results in the fourth quarter of 2020 compared to the third quarter of 2020 may not be maintained or continue; the risk that vacation package sales may not convert to tours and/or VOI sales at anticipated or historical rates; the risk that our allowance for loan losses may not be adequate and, accordingly, may need to be further increased in the future; our ability to successfully implement our strategic plans and initiatives, generate earnings and long-term growth; and the additional risks and uncertainties described in Bluegreen's filings with the Securities and Exchange Commission, including, without limitation, those described in the “Risk Factors” section of Bluegreen’s Annual Report on Form 10-K for the year ended December 31, 2020, which is expected to be filed on or about March 1, 2021. Bluegreen cautions that the foregoing factors are not exclusive. You should not place undue reliance on any forward-looking statement, which speaks only as of the date made. Bluegreen does not undertake, and specifically disclaims any obligation, to update or supplement any forward-looking statements. In addition, past performance may not be indicative of future results.
FINANCIAL SCHEDULES
|
||||||||||||||||
BLUEGREEN VACATIONS CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (In thousands, except for per share data) |
||||||||||||||||
|
||||||||||||||||
|
|
For the Three Months Ended |
|
For the Years Ended |
||||||||||||
|
|
December 31, |
|
December 31, |
||||||||||||
|
|
2020 |
|
2019 |
|
2020 |
|
2019 |
||||||||
|
|
Unaudited |
|
|
|
|
|
|
||||||||
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Gross sales of VOIs |
|
$ |
73,409 |
|
|
$ |
85,242 |
|
|
$ |
230,938 |
|
|
$ |
311,076 |
|
Provision for loan losses |
|
|
(12,858 |
) |
|
|
(16,218 |
) |
|
|
(56,941 |
) |
|
|
(55,701 |
) |
Sales of VOIs |
|
|
60,551 |
|
|
|
69,024 |
|
|
|
173,997 |
|
|
|
255,375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Fee-based sales commission revenue |
|
|
25,346 |
|
|
|
46,799 |
|
|
|
89,965 |
|
|
|
207,832 |
|
Other fee-based services revenue |
|
|
28,265 |
|
|
|
31,229 |
|
|
|
111,823 |
|
|
|
125,244 |
|
Cost reimbursements |
|
|
17,651 |
|
|
|
14,956 |
|
|
|
64,305 |
|
|
|
63,889 |
|
Interest income |
|
|
19,376 |
|
|
|
21,938 |
|
|
|
81,022 |
|
|
|
87,902 |
|
Other income, net |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total revenue |
|
|
151,189 |
|
|
|
183,946 |
|
|
|
521,112 |
|
|
|
740,242 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cost of VOIs sold |
|
|
4,863 |
|
|
|
4,304 |
|
|
|
13,597 |
|
|
|
21,845 |
|
Cost of other fee-based services |
|
|
18,327 |
|
|
|
19,527 |
|
|
|
79,434 |
|
|
|
83,440 |
|
Cost reimbursements |
|
|
17,651 |
|
|
|
14,956 |
|
|
|
64,305 |
|
|
|
63,889 |
|
Selling, general and administrative expenses |
|
|
89,197 |
|
|
|
114,692 |
|
|
|
311,625 |
|
|
|
472,356 |
|
Interest expense |
|
|
7,303 |
|
|
|
9,583 |
|
|
|
31,980 |
|
|
|
39,538 |
|
Other expense, net |
|
|
1,386 |
|
|
|
5,138 |
|
|
|
1,342 |
|
|
|
910 |
|
Total costs and expenses |
|
|
138,727 |
|
|
|
168,200 |
|
|
|
502,283 |
|
|
|
681,978 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Income before non-controlling interest and |
|
|
|
|
|
|
|
|
|
|
|
|
||||
provision for income taxes |
|
|
12,462 |
|
|
|
15,748 |
|
|
|
18,829 |
|
|
|
58,264 |
|
Provision for income taxes |
|
|
2,139 |
|
|
|
3,016 |
|
|
|
3,212 |
|
|
|
12,140 |
|
Net income |
|
|
10,323 |
|
|
|
12,732 |
|
|
|
15,617 |
|
|
|
46,124 |
|
Less: Net income attributable to |
||||||||||||||||
non-controlling interest |
|
|
3,371 |
|
|
|
2,178 |
|
|
|
7,392 |
|
|
|
11,273 |
|
Net income attributable to Bluegreen |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Vacations Corporation shareholders |
|
$ |
6,952 |
|
|
$ |
10,554 |
|
|
$ |
8,225 |
|
|
$ |
34,851 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Comprehensive income attributable to |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Bluegreen Vacations Corporation |
|
|
|
|
|
|
|
|
|
|
|
|
||||
shareholders |
|
$ |
6,952 |
|
|
$ |
10,554 |
|
|
$ |
8,225 |
|
|
$ |
34,851 |
|
BLUEGREEN VACATIONS CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (In thousands, except for share and per share data) |
|||||||||||||
|
|||||||||||||
|
|
For the Three Months Ended |
|
For the Years Ended |
|
||||||||
|
|
December 31, |
|
December 31, |
|
||||||||
|
|
2020 |
|
2019 |
|
2020 |
{
"@context": "https://schema.org",
"@type": "FAQPage",
"name": "Bluegreen Vacations Corporation Reports Financial Results for the Fourth Quarter and Full Year 2020 FAQs",
"mainEntity": [
{
"@type": "Question",
"name": "What were Bluegreen Vacations' earnings for Q4 2020?",
"acceptedAnswer": {
"@type": "Answer",
"text": "Bluegreen Vacations reported net income of $7.0 million and EPS of $0.10 for Q4 2020."
}
},
{
"@type": "Question",
"name": "How much did Bluegreen Vacations' total revenue decrease in 2020?",
"acceptedAnswer": {
"@type": "Answer",
"text": "Total revenue for Bluegreen Vacations decreased by 29.6% to $521.1 million in 2020."
}
},
{
"@type": "Question",
"name": "What was the system-wide sales of VOIs in Q4 2020 for Bluegreen Vacations?",
"acceptedAnswer": {
"@type": "Answer",
"text": "System-wide sales of vacation ownership interests (VOIs) were $112.2 million in Q4 2020."
}
},
{
"@type": "Question",
"name": "How did Bluegreen Vacations perform compared to Q3 2020?",
"acceptedAnswer": {
"@type": "Answer",
"text": "Total revenue in Q4 2020 increased by 4.6% from $144.6 million in Q3 2020."
}
},
{
"@type": "Question",
"name": "What were the free cash flow results for Bluegreen Vacations in 2020?",
"acceptedAnswer": {
"@type": "Answer",
"text": "Bluegreen's free cash flow increased by 54% to $70.8 million in 2020."
}
}
]
}
FAQ
What were Bluegreen Vacations' earnings for Q4 2020?
Bluegreen Vacations reported net income of $7.0 million and EPS of $0.10 for Q4 2020.
How much did Bluegreen Vacations' total revenue decrease in 2020?
Total revenue for Bluegreen Vacations decreased by 29.6% to $521.1 million in 2020.
What was the system-wide sales of VOIs in Q4 2020 for Bluegreen Vacations?
System-wide sales of vacation ownership interests (VOIs) were $112.2 million in Q4 2020.
How did Bluegreen Vacations perform compared to Q3 2020?
Total revenue in Q4 2020 increased by 4.6% from $144.6 million in Q3 2020.
What were the free cash flow results for Bluegreen Vacations in 2020?
Bluegreen's free cash flow increased by 54% to $70.8 million in 2020.
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