Core Viewpoint - Sabre Corporation announced the commencement of tender offers to purchase up to $336.375 million of its securities through its subsidiary Sabre GLBL Inc, with specific terms and conditions outlined in the Offer to Purchase [1][3][4]. Tender Offer Details - The tender offers will expire on June 17, 2025, with an early tender deadline of June 3, 2025, for holders to receive total consideration including an early tender premium [3][4]. - The total consideration for each $1,000 principal amount of securities validly tendered before the early tender deadline includes a premium of $50.00, with specific amounts for different series of securities detailed in the announcement [1][4]. - Securities tendered after the early tender deadline will receive a lower tender offer consideration, which is the total consideration minus the early tender premium [4][15]. Securities Information - The tender offers include various senior secured notes with different principal amounts and interest rates, such as 8.625% notes due 2027 and 7.375% notes due 2025, with total amounts outstanding of $656.783 million and $23.393 million respectively [1][4]. - The aggregate maximum tender amount is subject to increase or decrease at the discretion of Sabre GLBL, and the purchase of one series of securities is not conditioned on the purchase of any other series [1][6]. Financing Transaction - Sabre GLBL announced a financing transaction involving the offering of $1.325 billion aggregate principal amount of 11.125% senior secured notes due 2030, which is expected to provide sufficient net cash proceeds to fund the aggregate purchase price for the tender offers [7][8]. - Completion of the financing transaction is subject to customary closing conditions, and there are no assurances that it will be completed [7]. Additional Information - The announcement does not contain the full terms and conditions of the tender offers, which are detailed in the Offer to Purchase [8]. - Sabre GLBL may also purchase additional securities in the open market or through other means following the completion of the tender offers [9].

Core Viewpoint - Sabre Corporation has announced an upsized offering of $1,325,000,000 in Senior Secured Notes, increasing from an initial $975,000,000, with a maturity date set for July 15, 2030 and an interest rate of 11.125% [1][2]. Group 1: Offering Details - The Senior Secured Notes will pay interest semi-annually and are guaranteed by Sabre Holdings Corporation and its subsidiaries [2]. - The offering is expected to close on June 4, 2025, subject to customary closing conditions [1]. - The Secured Notes will be secured by a first-priority security interest in substantially all property and assets of Sabre GLBL and the guarantors [2]. Group 2: Use of Proceeds - A portion of the net proceeds will be used to prepay outstanding borrowings under an intercompany loan agreement, specifically targeting a senior secured term loan due in 2028 [3]. - Remaining proceeds will be utilized to prepay, redeem, or repurchase other indebtedness through various methods, including tender offers [3]. Group 3: Tender Offers - Sabre GLBL plans to launch tender offers for certain existing senior secured notes, with a maximum aggregate purchase amount of $336,375,000 [3]. - The details of the Tender Offers will be included in the offers to purchase dated May 20, 2025 [6]. Group 4: Company Overview - Sabre Corporation is a leading technology company focused on the travel industry, providing solutions for airlines, hoteliers, and travel agencies [7]. - The company is headquartered in Southlake, Texas, and serves customers in over 160 countries globally [7].

Group 1 - Sabre Corporation announced an offering of $975,000,000 aggregate principal amount of senior secured notes by its subsidiary Sabre GLBL Inc [1] - The Secured Notes will be guaranteed by Sabre Holdings Corporation and secured by a first-priority security interest in substantially all property and assets of Sabre GLBL and the guarantors [2] - The net proceeds from the sales of the Secured Notes are expected to be used to prepay outstanding borrowings under an intercompany loan agreement and to address other indebtedness [3] Group 2 - The Secured Notes will be offered in a private offering to qualified institutional buyers and non-U.S. persons outside the United States [4] - The offering does not constitute an offer to sell or solicitation of an offer to buy the Secured Notes in jurisdictions where such offering would be unlawful [5] - Sabre Corporation is a leading technology company in the travel industry, serving customers in over 160 countries globally [6]

Core Viewpoint - Sabre (SABR) has received an upgrade to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, indicating a positive outlook for the company's stock price [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Institutional investors often rely on earnings estimates to determine the fair value of stocks, leading to significant buying or selling activity that impacts stock prices [4]. Sabre's Earnings Outlook - The recent upgrade for Sabre reflects an improvement in its underlying business, which is expected to drive the stock price higher as investors respond positively to this trend [5][10]. - For the fiscal year ending December 2025, Sabre is projected to earn $0.18 per share, representing a 194.7% increase from the previous year, with a 91.7% increase in the Zacks Consensus Estimate over the past three months [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [7]. - The upgrade to Zacks Rank 2 places Sabre in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

Core Viewpoint - Sabre Corporation reported a break-even bottom line for Q1 2025, missing the earnings estimate of 1 cent per share, compared to a loss of 2 cents per share in the same quarter last year [1] Financial Performance - Sabre's revenues for Q1 2025 were $776.62 million, which was 1.77% below the Zacks Consensus Estimate and represented a 0.8% decline year over year [1] - The adjusted EBITDA for Q1 2025 was $149.6 million, an improvement from $142 million in the previous year, with an adjusted EBITDA margin of 19.3%, up 110 basis points year over year [6] Segment Performance - Travel Solutions segment revenues decreased by 2% year over year to $702.13 million, primarily due to lower air bookings and the impact of previously demigrated carriers [2] - Distribution revenues, a sub-division of Travel Solutions, fell by 0.5% to $569 million, affected by lower air bookings but partially offset by increased average booking fees and hotel distribution bookings [3] - IT Solutions revenues were $133 million, down 6% year over year, attributed to customer demigrations [4] - Hospitality Solutions segment revenues increased to $85.2 million from $78.8 million in the prior year, driven by positive customer deployments and CRS transaction growth [5] Cash Flow and Balance Sheet - At the end of Q1 2025, Sabre had cash, cash equivalents, and restricted cash of $672 million, down from $745.5 million in the previous quarter [6] - Cash used in operating activities was $81 million, resulting in a negative free cash flow of $98 million during the quarter [7] Guidance - For 2025, Sabre expects revenue growth in the high single digits, with the Zacks Consensus Estimate for revenues at $3.23 billion, indicating a year-over-year growth of 6.57% [8] - Adjusted EBITDA is forecasted to be approximately $630 million for 2025, with expectations of generating over $200 million in cash flow throughout the year [8] - For Q2 2025, Sabre anticipates revenue growth in flat to low single digits and an adjusted EBITDA of $140 million [9]

Core Insights - Sabre Corporation has appointed Jennifer Catto as Executive Vice President and Chief Marketing Officer to lead its global marketing strategy and brand development [1][2][5] - Jennifer Catto brings over 25 years of experience in brand transformation and integrated marketing from her previous roles at various companies [2][4] - The appointment reflects Sabre's commitment to innovation and enhancing customer engagement as it aims to become the premier technology platform in travel [5] Company Overview - Sabre Corporation is a leading global travel technology company that addresses complex challenges in the travel industry, serving customers in over 160 countries [6] - The company focuses on harnessing speed, scale, and insights to empower airlines, hoteliers, and travel agencies [6] Leadership Vision - Jennifer Catto emphasizes the importance of a brand as a promise to the market and aims to shape Sabre's brand to reflect its transformation and innovation [3][5] - The leadership believes that Catto's unique blend of creativity and operational focus will enhance Sabre's brand and deepen customer engagement [5]

Core Insights - Sabre reported revenue of $776.62 million for the quarter ended March 2025, reflecting a decrease of 0.8% year-over-year and a revenue surprise of -1.77% compared to the Zacks Consensus Estimate of $790.57 million [1] - The company's EPS was $0.00, an improvement from -$0.02 in the same quarter last year, but fell short of the consensus estimate of $0.01, resulting in an EPS surprise of -100.00% [1] Financial Performance Metrics - Travel Solutions - Air Bookings were reported at 82.44 million, below the average estimate of 85.29 million [4] - Travel Solutions - Lodging, Ground and Sea Bookings reached 13.92 million, slightly above the average estimate of 13.73 million [4] - Hospitality Solutions - Central Reservations System Transactions totaled 30.77 million, in line with the average estimate of 30.75 million [4] - Total Travel Solutions Bookings were 96.36 million, below the average estimate of 99.02 million [4] - Passengers Boarded in Travel Solutions were 165.83 million, slightly below the estimate of 167 million [4] - Revenue from Hospitality Solutions was $85.21 million, exceeding the average estimate of $83.39 million, representing an 8.1% increase year-over-year [4] - Revenue from Travel Solutions was $702.13 million, below the average estimate of $718.39 million, reflecting a year-over-year decline of 1.6% [4] - IT Solutions Revenue within Travel Solutions was $133.01 million, below the estimate of $140 million, marking a 5.9% decrease year-over-year [4] - Distribution Revenue in Travel Solutions was $569.12 million, below the average estimate of $578.40 million, with a year-over-year change of -0.6% [4] Stock Performance - Sabre's shares have returned +25.6% over the past month, outperforming the Zacks S&P 500 composite's +10.6% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Sabre (SABR) Q1 2025 Earnings Call May 07, 2025 09:00 AM ET Company Participants Brian Evans - SVP, Investor Relation & TreasurerKurt Ekert - President & Chief Executive OfficerMike Randolfi - Chief Financial OfficerJed Kelly - Managing Director - Equity ResearchJames Goodall - Director & Head - Transport & Leisure Conference Call Participants Victor Cheng - AnalystJoshua Baer - AnalystJeff Harlib - AnalystNone - AnalystAlex Irving - Analyst Operator Good morning, and welcome to the Sabre First Quarter twen ...

Sabre (SABR) Q1 2025 Earnings Call May 07, 2025 09:00 AM ET Company Participants Brian Evans - SVP, Investor Relation & TreasurerKurt Ekert - President & Chief Executive OfficerMike Randolfi - Chief Financial OfficerJed Kelly - Managing Director - Equity ResearchJames Goodall - Director & Head - Transport & Leisure Conference Call Participants Victor Cheng - AnalystJoshua Baer - AnalystJeff Harlib - AnalystNone - AnalystAlex Irving - Analyst Operator Good morning, and welcome to the Sabre First Quarter twen ...

Sabre (SABR) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.01. This compares to loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this provider of technology services to the travel industry would post a loss of $0.07 per share when it actually produced a loss of $0.08, delivering a surprise of -14.29%.Over the last four quarters ...