Wyndham Hotels & Resorts, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share

3 Months Ended

Mar. 31, 2024


4. EARNINGS PER SHARE

The computation of basic and diluted earnings per share (“EPS”) is based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares, respectively.

The following table sets forth the computation of basic and diluted EPS (in millions, except per share data):


	Three Months Ended March 31,
	2024		2023
Net income	$	16	$	67

Basic weighted average shares outstanding	81.2		86.5
Stock options and restricted stock units (“RSUs”) (a)	0.6		0.6
Diluted weighted average shares outstanding	81.8		87.1

Earnings per share:
Basic	$	0.20	$	0.77
Diluted	0.19		0.77

Dividends:
Cash dividends declared per share	$	0.38	$	0.35
Aggregate dividends paid to stockholders	$	32	$	31

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(a) Diluted shares outstanding excludes shares related to stock options of 0.5 million for the three months ended March 31, 2023. Such stock options were immaterial for the three months ended March 31, 2024. Diluted shares outstanding excludes shares related to RSUs of 0.3 million and 0.5 million related to RSUs for the three months ended March 31, 2024 and 2023, respectively. Such shares are excluded as their effect would have been anti-dilutive under the treasury stock method.

Stock Repurchase Program

The following table summarizes stock repurchase activity under the current stock repurchase program (in millions, except per share data) which includes excise taxes and fees:


	Shares	Cost		Average Price Per Share
As of December 31, 2023	20.7	$	1,361	$	65.69
For the three months ended March 31, 2024	0.7	57		78.63
As of March 31, 2024	21.4	$	1,418	$	66.12

The Company had $387 million of remaining availability under its program as of March 31, 2024.