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

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Net income	$	86	$	70	$	102	$	137

Basic weighted average shares outstanding	80.4		85.3		80.7		85.9
Stock options and restricted stock units (“RSUs”) (a)	0.3		0.4		0.5		0.5
Diluted weighted average shares outstanding	80.7		85.7		81.2		86.4

Earnings per share:
Basic	$	1.07	$	0.82	$	1.27	$	1.59
Diluted	1.07		0.82		1.26		1.59

Dividends:
Cash dividends declared per share	$	0.38	$	0.35	$	0.76	$	0.70
Aggregate dividends paid to stockholders	$	31	$	30	$	63	$	61

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(a) Diluted shares outstanding excludes anti-dilutive shares related to stock options of 0.2 million for both the three and six months ended June 30, 2023. Anti-dilutive shares related to stock options were immaterial for both the three and six months ended June 30, 2024. Diluted shares outstanding excludes anti-dilutive shares related to RSUs of 0.6 million for both the three and six months ended June 30, 2024 and 0.4 million and 0.5 million for the three and six months ended June 30, 2023, respectively.

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 six months ended June 30, 2024	2.6	188		74.20
As of June 30, 2024	23.3	$	1,549	$	66.61

The Company had $657 million of remaining availability under its program as of June 30, 2024.