For the quarter ended June 2024, Sabre (SABR) reported revenue of $767.24 million, up 4% over the same period last year. EPS came in at -$0.05, compared to -$0.17 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $750.13 million, representing a surprise of +2.28%. The company delivered an EPS surprise of +28.57%, with the consensus EPS estimate being -$0.07. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how the ...

Sabre (SABR) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 28.57%. A quarter ago, it was expected that this provider of technology services to the travel industry would post a loss of $0.05 per share when it actually produced a loss of $0.02, delivering a surprise of 60%. Over the last fou ...

Travel Solutions Performance - Travel Solutions reported direct billable bookings for Air at 76,225, a decrease of 0.9% from 76,944 in the previous year[94]. - Direct billable bookings for LGS increased by 9.4% to 14,755 from 13,485 year-over-year[94]. - Total direct billable bookings for Travel Solutions reached 90,980, reflecting a 0.6% increase compared to 90,429 in the same period last year[94]. - IT solutions passengers boarded decreased by 2.0% to 168,906 from 172,337 year-over-year[94]. - Central Reservations System transactions for Hospitality Solutions increased by 3.9% to 33,156 from 31,916 year-over-year[94]. Financial Performance - Net loss attributable to common stockholders for the three months ended June 30, 2024, was $(69,760) million, compared to $(129,278) million for the same period in 2023, representing a 46% improvement[98]. - Adjusted Net Loss from continuing operations for the six months ended June 30, 2024, was $(24,220) million, a decrease of 79% from $(115,241) million in the same period of 2023[98]. - Adjusted EBITDA for the three months ended June 30, 2024, was $128,694 million, up 76% from $73,049 million in the same period of 2023[98]. - Operating income for the three months ended June 30, 2024, was $60,855 million, compared to a loss of $(42,183) million in the same period of 2023[98]. - Adjusted Operating Income for the three months ended June 30, 2024, was $106,989 million, significantly higher than $46,095 million in the same period of 2023[100]. - Adjusted Operating Income for the six months ended June 30, 2024, was $224,758, compared to a loss of $116,486 in the same period of 2023, reflecting a significant improvement[104]. - Adjusted EBITDA for the six months ended June 30, 2024, reached $271,000, up from a loss of $116,067 in the prior year[104]. - Operating income for the six months ended June 30, 2024, was $158,940, compared to a loss of $180,875 in the same period of 2023[104]. Cost Management - The company expects to achieve annual operating expense reductions of approximately $200 million due to a cost reduction plan initiated in Q2 2023[82]. - The company incurred restructuring costs of $82 million related to the cost reduction plan since Q2 2023[82]. - Selling, general and administrative expenses decreased by $13,426,000, or 7%, to $165,637,000, mainly due to reduced restructuring costs[115]. - Technology costs decreased by $65,011,000, or 23%, to $219,268,000, primarily due to cost reduction initiatives and cloud migrations[113]. - Technology costs decreased by $114,158 or 21%, totaling $441,559 for the six months ended June 30, 2024, primarily due to cost reduction initiatives[122]. Debt and Interest Expenses - Approximately 42% of the company's debt is variable, which is sensitive to interest rate fluctuations[84]. - Interest expense, net for the three months ended June 30, 2024, was $129,294 million, compared to $106,134 million in the same period of 2023, indicating rising debt servicing costs[98]. - Interest expense for the six months ended June 30, 2024, was $(254,041), indicating a substantial financial burden[104]. - Interest expense increased by $23,160,000, or 22%, to $129,294,000, attributed to additional interest from financing activities[116]. - Interest expense increased by $48 million, or 23%, totaling $254,041 for the six months ended June 30, 2024, due to additional interest from financing activities[126]. Revenue Growth - Total revenue for the three months ended June 30, 2024, was $767,241,000, representing a 4% increase from $737,529,000 in the same period of 2023[109]. - Travel Solutions revenue increased by $24 million, or 4%, to $695,050,000, driven by a 4% increase in transaction-based distribution revenue and a 1% increase in direct billable bookings[110]. - Hospitality Solutions revenue rose by $7 million, or 9%, to $83,238,000, primarily due to a 4% increase in transaction volumes[111]. - Total revenue for the six months ended June 30, 2024, was $1,550,127, an increase of $69,903 or 5% compared to $1,480,224 for the same period in 2023[120]. - Travel Solutions revenue increased by $60 million, or 4%, primarily due to a $67 million increase in transaction-based distribution revenue[120]. - Hospitality Solutions revenue rose by $12 million, or 8%, driven by a $13 million increase in SynXis Software and Services revenue[120]. Cash Flow and Liquidity - Cash used in operating activities for the six months ended June 30, 2024, was $(39,959), an improvement from $(99,188) in the same period of 2023[107]. - Free Cash Flow for the six months ended June 30, 2024, was $(87,753), compared to $(147,378) in the prior year, indicating better cash management[107]. - Cash used in operating activities was $40 million for the six months ended June 30, 2024, an improvement of $59 million compared to the same period in 2023[144]. - Cash provided by financing activities was $54 million for the six months ended June 30, 2024, including proceeds of $150 million from the issuance of 2026 Exchangeable Notes[146]. - Cash and cash equivalents as of June 30, 2024, were $612,614, a decrease from $648,207 as of December 31, 2023[130]. Restructuring and Future Outlook - The company has experienced material headwinds in financial results for 2023 and into Q2 2024, with air distribution volume growth leveling off[82]. - The company anticipates being substantially complete with restructuring activities associated with the cost reduction plan by the end of 2024[82]. - The company expects to generate positive free cash flow for the full year 2024, although its ability to generate cash is subject to various external factors[132]. - The company expects to be a U.S. federal cash taxpayer in 2024, benefiting from the usage of net operating losses (NOLs) and certain tax credits[132]. Miscellaneous - The company recorded $8 million in digital services tax (DST) during Q2 2024, with $6 million being retroactive to prior periods[132]. - The company had no off-balance sheet arrangements during the six months ended June 30, 2024[149]. - There were no material changes to market risk exposure since December 31, 2023, as previously disclosed[153].

SOUTHLAKE, Texas, Aug. 1, 2024 /PRNewswire/ -- Sabre Corporation ("Sabre") (NASDAQ: SABR) today announced financial results for the quarter ended June 30, 2024. Sabre has posted its second quarter 2024 earnings release and earnings presentation to its Investor Relations webpage at investors.sabre.com/financialinformation/quarterly results. The earnings release is also available on the Securities and Exchange Commission's website at www.sec.gov. As previously announced, Sabre will host a live webcast of its ...

Financial Performance - Q2 2024 revenue totaled $767 million, up 4% from Q2 2023[2] - Operating income improved to $61 million, a $103 million year-over-year increase[2] - Adjusted EBITDA reached $129 million, a 76% increase from Q2 2023[6] - Free Cash Flow for Q2 2024 was $8 million, compared to negative $57 million in Q2 2023[6] - Revenue for Q2 2024 increased to $767.2 million, up from $737.5 million in Q2 2023, representing a 4% growth[31] - Operating income for Q2 2024 improved significantly to $60.9 million, compared to an operating loss of $42.2 million in Q2 2023[31] - Net loss for Q2 2024 decreased to $69.5 million, down from $124.0 million in Q2 2023, reflecting a 44% reduction in losses[31] - Net loss attributable to common stockholders for Q2 2024 was $69.76 million, a significant improvement from $129.28 million in Q2 2023[42] - Adjusted EBITDA for Q2 2024 was $128.69 million, up from $73.05 million in Q2 2023, with an Adjusted EBITDA margin of 16.8% compared to 9.9% in the prior year[42] - Free Cash Flow for Q2 2024 was $8.01 million, a substantial improvement from a negative $56.86 million in Q2 2023[43] - Net loss improved from $(223,766) million in the first half of 2023 to $(140,590) million in the first half of 2024[33] - Cash used in operating activities decreased from $(99,188) million in the first half of 2023 to $(39,959) million in the first half of 2024[33] - Adjusted Net Loss from continuing operations improved to $18.48 million in Q2 2024 from $56.94 million in Q2 2023[42] - Cash provided by operating activities turned positive at $28.13 million in Q2 2024, compared to a negative $26.78 million in Q2 2023[43] Segment Performance - Travel Solutions revenue increased 4% to $695 million, driven by favorable rate impacts and increased bookings[11] - Hospitality Solutions revenue grew 9% to $83 million, with central reservation system transactions up 4%[13] - Travel Solutions segment generated $163.64 million in Adjusted Operating Income for Q2 2024, while Corporate segment reported a loss of $62 million[44] - Adjusted Operating Income for Travel Solutions in Q2 2023 was $116,368, while Hospitality Solutions reported a loss of $2,037, and Corporate had a loss of $68,236, resulting in a total Adjusted Operating Income of $46,095[45] - Adjusted EBITDA for Q2 2023 was $73,049, with Travel Solutions contributing $136,641, Hospitality Solutions $4,307, and Corporate a loss of $67,899[45] - In the six months ended June 30, 2024, Adjusted Operating Income for Travel Solutions was $333,426, Hospitality Solutions $7,818, and Corporate a loss of $116,486, totaling $224,758[46] - Adjusted EBITDA for the six months ended June 30, 2024, was $271,000, with Travel Solutions contributing $368,625, Hospitality Solutions $18,442, and Corporate a loss of $116,067[46] - For the six months ended June 30, 2023, Adjusted Operating Income for Travel Solutions was $206,470, Hospitality Solutions a loss of $10,531, and Corporate a loss of $122,168, totaling $73,771[47] - Adjusted EBITDA for the six months ended June 30, 2023, was $131,111, with Travel Solutions contributing $251,349, Hospitality Solutions $1,497, and Corporate a loss of $121,735[47] Costs and Expenses - Technology costs decreased by 23% in Q2 2024 to $219.3 million, compared to $284.3 million in Q2 2023[31] - Interest expense increased by 22% in Q2 2024 to $129.3 million, up from $106.1 million in Q2 2023[31] - Stock-based compensation increased to $12.23 million in Q2 2024 from $8.74 million in Q2 2023[42] - Interest expense, net rose to $129.29 million in Q2 2024 from $106.13 million in Q2 2023[42] - Restructuring and other costs decreased significantly to $15.49 million in Q2 2024 from $59.37 million in Q2 2023[42] - Additions to property and equipment decreased to $20.12 million in Q2 2024 from $30.08 million in Q2 2023[43] - Additions to property and equipment were $(47,794) million in the first half of 2024, slightly lower than $(48,190) million in the same period of 2023[33] - Restructuring and other costs in 2024 primarily represent charges associated with the cost reduction plan implemented in Q2 2023, totaling $10,439[49] - Acquisition-related costs in 2024 were $863, primarily related to fees and expenses incurred for acquisition and disposition-related activities[49] - Litigation costs, net in 2024 were $1,579, associated with antitrust litigation and other foreign non-income tax contingency matters[49] - Indirect tax matters in 2024 included a charge of $6,131 due to newly adopted legislation in Canada[49] Balance Sheet and Cash Flow - Ended Q2 with a cash balance of $634 million[2] - Q2 2024 cash from operations was $28 million, the first positive Q2 operating cash flow in five years[2] - Total assets decreased slightly from $4,672,194 million in December 2023 to $4,666,375 million in June 2024[32] - Cash and cash equivalents decreased from $648,207 million in December 2023 to $612,614 million in June 2024[32] - Long-term debt decreased from $4,829,461 million in December 2023 to $4,789,406 million in June 2024[32] - Accounts receivable increased from $343,436 million in December 2023 to $376,476 million in June 2024[32] Guidance and Forward-Looking Statements - Full-year 2024 Adjusted EBITDA guidance raised to ~$525 million, up from prior guidance of ~$520 million[17] - Adjusted EBITDA and Free Cash Flow are provided as forward guidance, though specific figures are not disclosed[23][24] Market Presence and Strategy - Sabre serves customers in over 160 countries, highlighting its global market presence[19] - The company emphasizes its focus on innovative products and next-generation technology solutions to empower travel partners[19] - Sabre's financial performance is influenced by transaction volumes in the global travel industry, particularly air travel[26] - The company faces risks related to pricing pressure in the Travel Solutions business and changes affecting travel supplier customers[26] - SabreMosaic, a next-generation AI-infused retailing platform, was announced[2] Definitions and Metrics - The company defines Adjusted EBITDA as loss from continuing operations adjusted for various factors including depreciation, amortization, and interest expense[35] - Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by revenue[36] - Free Cash Flow is defined as cash used in operating activities less cash used in additions to property and equipment[36]

SynXis CRS is the leading global hospitality commerce and distribution platform, enabling hoteliers to achieve their strategic goals with streamlined distribution, centralized control, and greater flexibility. With this renewal, Wyndham will continue to benefit from efficient pricing and inventory management, extensive global distribution connectivity, robust bulk upload tools, and a fully integrated guest profile linked to its Wyndham Rewards® program. The platform will also help Wyndham to maintain its co ...

Investor Contact: Brian Roberts [email protected] SOURCE Sabre Corporation SOUTHLAKE, Texas, July 30, 2024 /PRNewswire/ -- Sabre (NASDAQ: SABR), a leading software and technology company powering the global travel industry, today announced that American Airlines has renewed its subscription to PRISM, Sabre's industry-leading corporate travel contract management solution used by more than 30 of the world's premier airlines. PRISM is a powerful business intelligence solution that goes beyond a simple data fee ...

The market expects Sabre (SABR) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on August 1, 2024, might help the stock move higher if these key numbers are better ...

"We are pleased to have Sabre and its partners distribute our HA Connect™ content, which broadens access to our unique offers and products and will greatly enhance the booking experience for travelers," said Brent Overbeek, Executive Vice President and Chief Revenue Officer, Hawaiian Airlines. Sabre Corporation is a software and technology company that takes on the biggest opportunities and solves the most complex challenges in travel. The Company connects travel suppliers and buyers around the globe and ac ...

About Sabre Website Information SABR-F Media Kristin Hays [email protected] [email protected] SOURCE Sabre Corporation Sabre Corporation is a software and technology company that takes on the biggest opportunities and solves the most complex challenges in travel. The Company connects travel suppliers and buyers around the globe and across the ecosystem through innovative products and next-generation technology solutions. Sabre harnesses speed, scale and insights to build tomorrow's technology today – empowe ...