How did TNL's Q4 earnings surprise impact its annual performance?

Travel + Leisure Co. (TNL) experienced a positive Q4 earnings surprise, which had a notable impact on its annual performance:

1. **Q4 Earnings Surprise**: TNL's Q4 net income was $119 million, with an EPS surprise of $0.1. This indicates that the company's performance for the quarter exceeded market expectations.

|code|Ticker|Name|Date|Net Income|market_code|
|---|---|---|---|---|---|
|TNL|TNL.N|Travel + Leisure|2024 Q1|6.6E7|169|
|TNL|TNL.N|Travel + Leisure|2024 Q2|1.29E8|169|
|TNL|TNL.N|Travel + Leisure|2024 Q3|9.7E7|169|
|TNL|TNL.N|Travel + Leisure|2024 Q4|1.19E8|169|

2. **Annual Performance Impact**:
- **Revenue Contribution**: When considering the full year 2024, TNL's total revenue reached $971 million for Q4. This suggests that the strong Q4 performance contributed significantly to the company's annual revenue.
- **Net Income Influence**: TNL's net income for the full year 2024 was $378 million. While the Q4 net income figure is not directly comparable to the annual net income, the strong Q4 performance would have been a significant factor in achieving this annual net income.
- **Profit Margin**: TNL maintained a profit margin of 9.8% for the full year 2024, which is in line with the FY 2023 margin. The consistent profit margin across the year indicates that the Q4 earnings surprise did not negatively impact the company's overall profitability for the year.

|code|Ticker|Name|Date|Revenue Surprise|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|TNL|TNL.N|Travel + Leisure|2024 Q1|9840000|9.16E8|169|
|TNL|TNL.N|Travel + Leisure|2024 Q2|-2200000|9.85E8|169|
|TNL|TNL.N|Travel + Leisure|2024 Q3|-1.7E7|9.93E8|169|
|TNL|TNL.N|Travel + Leisure|2024 Q4|1.337E7|9.71E8|169|

3. **Analyst Expectations and Stock Performance**: Analysts had a "Strong Buy" consensus rating for TNL, with an average price target of $64. The positive Q4 earnings surprise could potentially lead to an upward revision in price targets, reflecting improved investor confidence in the company's future performance.

In conclusion, TNL's Q4 earnings surprise had a positive impact on its annual performance, contributing to the company's revenue and net income figures for the full year 2024. The strong Q4 performance, along with consistent profit margins, positions TNL well in the eyes of analysts and investors.