Vacasa Inc (VCSA)

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Vacasa Shares Soar 36% on Higher 2022 Outlook Following Strong Demand
5:18 pm ET August 10, 2022 (Dow Jones) Print

By Denny Jacob


Vacasa Inc. shares soared 36% to $4.13 in after-hours trading Wednesday after the company raised its full-year outlook on the heels of strong demand in recent months.

The vacation rental property management services provider guided for full year 2022 revenue between $1.17 billion to $1.19 billion, up from its prior forecast of $1.13 billion to $1.18 billion. The company also guided for adjusted earnings before interest, taxes, depreciation and amortization between a loss of $7 million to zero, narrower than its previous forecast of an adjusted Ebitda between a loss of $14 million to a loss of $21 million.

Vacasa guided for revenue between $385 million to $395 million and adjusted Ebitda between $55 million to $60 million in the third quarter.

"We experienced strong guest demand during the second quarter and July that has continued into August," Chief Executive Matt Roberts said.

The company also posted second-quarter results. Vacasa swung to a gain of $9.9 million, or 2 cents a share, for the quarter ended June 30, from a loss of $19.9 million, or no earnings per-share, a year earlier. Analysts polled by FactSet expected a loss of 18 cents a share.

Revenue rose to $310.3 million from $237.6 million. Analysts polled by FactSet expected $285.5 million.


Write to Denny Jacob at [e-mail]


(END) Dow Jones Newswires

August 10, 2022 17:18 ET (21:18 GMT)