The earnings call highlighted successful operational improvements and cost reductions, alongside significant challenges in gross booking values, home churn, and industry-wide headwinds. While there are promising developments in operational efficiency, the financial metrics reflect ongoing struggles in the market.

Company Guidance

In the third quarter of 2024, Vacasa reported several key metrics during its earnings call. Gross booking value was $670 million, reflecting a 19% year-over-year decline, while nights sold totaled 1.6 million, down 21% from the previous year. Despite these decreases, gross booking value per night sold increased by 2% to $413. The company managed approximately 38,000 homes by the end of the quarter, a reduction from 40,000 in the previous quarter, indicating ongoing churn. Revenue for the period was $314 million, marking a 17% decline year-over-year. Cost of revenue and operations and support expenses both declined by 16% year-over-year, remaining consistent as a percentage of revenue at 40% and 17%, respectively. Adjusted EBITDA was $69 million, down from $74 million in the third quarter of 2023. Despite the challenges, early bookings for the first quarter of 2025 are pacing slightly better compared to the same time in 2023, although the company remains cautious due to industry volatility.

Successful Summer Peak Season

Vacasa served nearly 400,000 guest reservations and generated over $300 million of income for homeowners. Guest satisfaction and review scores increased year-over-year.

Operational Efficiency Improvements

The company localized decision-making, allowing teams to make market-level decisions, improving hospitality experience and operational efficiency.

AI Integration

Initial progress in leveraging artificial intelligence to enhance service outcomes and improve efficiency for homeowner and guest-facing teams.

Cost Reduction Achievements

Significant year-over-year declines in operating expenses due to restructuring, with sales and marketing expenses down 30%, technology and development expenses down 41%, and general and administrative expenses down 10%.

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Vacasa (VCSA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

VCSA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 15, 2021	2021 (Q3)	- / 2.00	―	―	―	―
Mar 16, 2022	2021 (Q4)	-5.51 / -1.20	0	―	―	―
May 11, 2022	2022 (Q1)	-2.51 / -2.60	-0.005	-51900.00% (-2.60)	―	―
Aug 10, 2022	2022 (Q2)	-3.69 / 0.40	-0.065	715.38% (+0.47)	―	―
Nov 09, 2022	2022 (Q3)	1.34 / 0.80	2	-60.00% (-1.20)	―
Mar 14, 2023	2022 (Q4)	-7.43 / -14.00	-1.2	-1066.67% (-12.80)	―
May 09, 2023	2023 (Q1)	-4.60 / -2.00	-2.6	23.08% (+0.60)	―
Aug 08, 2023	2023 (Q2)	-1.70 / -0.20	0.4	-150.00% (-0.60)	―
Nov 07, 2023	2023 (Q3)	1.02 / -18.37	0.8	-2396.25% (-19.17)	―
Feb 28, 2024	2023 (Q4)	-6.73 / -3.48	-14	75.14% (+10.52)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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VCSA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	$2.88	$2.77	-3.82%
Aug 08, 2024	$3.96	$2.39	-39.65%
May 09, 2024	$6.51	$5.99	-7.99%
Feb 28, 2024	$11.26	$9.45	-16.07%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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