Sabre

Sabre's fourth-quarter 2024 results gain from strength in global air, hotel and travel bookings, offset by weakness in IT solutions.» Mehr auf zacks.com

Sabre reports significant financial improvement in 2024 results. 2024 Business highlights: aAdsList.push('Article'); aAdsListSize.push([300, 250]); aAdsListCA.push(null); * Achieved revenue and Adjusted EBITDA guidance for Q4 and full year 2024 * Generated an 8 point year-over-year improvement in operating margin from solid revenue growth and lower operating costs * Launched SabreMosaicTM, a next-generation offer-and-order platform, and announced commercial partnerships with Virgin Australia and Riyadh Air * Secured large airline and agency wins, setting the foundation for 2025 growth * Achieved Hospitality Solutions Adjusted EBITDA target * Refinanced ~$1.9 billion of the Company's debt maturities; plan to pay 2025 maturities as they come due 2024 Financial results: * Revenue totaled $715 million in Q4 and $3,030 million for the full year * Operating income totaled $57 million in Q4 and $286 million for the full year * Net loss attributable to common stockholders totaled $75 million in Q4 and $279 million for the full year * Generated $115 million of Adjusted EBITDA(1) in Q4 and $517 million for the full year * Ended year with cash balance of $746 millionSOUTHLAKE, Texas - Sabre Corporation ('Sabre' or the 'Company') (NASDAQ: SABR) today announced financial results for the quarter and year ended December 31, 2024. 'Sabre's performance this quarter and for full year 2024, along with our expectations for 2025, highlights the continued progress we are making against our strategy. We delivered solid revenue and Adjusted EBITDA growth, reflecting strong momentum,' said Kurt Ekert, President and CEO. Ekert continued, 'Our team achieved key product development milestones and secured meaningful commercial wins, accelerating our growth trajectory. We believe the success of our strategy-focused on delivering an end-to-end travel commerce platform and intelligent retailing solutions-positions us to achieve double-digit year-on-year growth in both distribution bookings and CRS transactions in 2025. We are excited about the opportunities ahead and believe that our technology, innovation, and talent will drive long-term value for our customers and stakeholders.' Q4 2024 Financial Summary Consolidated fourth quarter revenue totaled $715 million, a 4% improvement versus $687 million in the fourth quarter of 2023. Revenue growth was driven by positive performance in both Travel Solutions and Hospitality Solutions, including an increase in global air and hotel bookings, and favorable rate impacts from travel supplier mix. Operating income totaled $57 million versus operating income of $37 million in the fourth quarter of 2023. The improvement in operating results was driven by the items impacting revenue described above, a decrease in technology expenses due to cost savings related to our cloud migrations, lower labor and professional services costs, and lower depreciation and amortization. These positive impacts were partially offset by increased Travel Solutions incentive expenses and an increase in a litigation reserve. Net loss attributable to common stockholders totaled $75 million, an improvement versus a net loss of $96 million in the fourth quarter of 2023. Diluted net loss attributable to common stockholders per share (EPS) totaled $0.19, versus diluted net loss attributable to common stockholders per share of $0.26 in the fourth quarter of 2023. The improvement in net loss attributable to common stockholders was driven by the improvement in operating income described above and a reduction in income tax expense, partially offset by debt modification costs of $21 million associated with the refinancing activity in the quarter and higher interest expense. Adjusted EBITDA was $115 million, an improvement versus Adjusted EBITDA of $96 million in the fourth quarter of 2023. The improvement in Adjusted EBITDA was primarily driven by revenue growth due to an increase in global air and hotel bookings and favorable rate impacts from travel supplier mix, lower technology expenses due to cost savings related to our cloud migrations, and a decrease in labor and professional services expenses. These impacts were partially offset by increased Travel Solutions incentive expenses. Sabre reported Adjusted EPS of ($0.08), an improvement versus ($0.12) in the fourth quarter of 2023. With regards to Sabre's fourth quarter 2024 cash flows (versus prior year): * Cash provided by operating activities totaled $83 million (vs. $96 million) * Cash used in investing activities totaled $16 million (vs. $29 million) * Cash used in financing activities totaled $6 million (vs. $22 million) * Capitalized expenditures totaled $16 million (vs. $19 million) Free Cash Flow for the quarter was $67 million, versus Free Cash Flow of $77 million in the fourth quarter of 2023. Free Cash Flow for the quarter includes $19 million paid for debt modification costs associated with the refinancing activity in the fourth quarter of 2024. Full Year 2024 Financial Summary For the full year 2024, Sabre consolidated revenue totaled $3.0 billion, a 4% improvement versus $2.9 billion for the prior year. Revenue growth was driven by positive performance in both Travel Solutions and Hospitality Solutions, including favorable rate impacts from travel supplier mix and an increase in global air and hotel bookings. Operating income was $286 million, a significant improvement versus operating income of $47 million in 2023. The improvement in operating results was driven by the items impacting revenue described above, lower labor and professional services costs and a $61 million decrease in restructuring charges, both driven by our cost reduction plan, a decrease in technology expenses due to cost savings related to our cloud migrations, and lower depreciation and amortization. These impacts were partially offset by increased Travel Solutions incentive expenses, an increase in indirect taxes, and an increase in a litigation reserve. Net loss attributable to common stockholders totaled $279 million versus net loss of $542 million in 2023. Diluted net loss attributable to common stockholders per share totaled $0.73, versus diluted net loss attributable to common stockholders per share of $1.56 in 2023. The decrease in the net loss attributable to common stockholders was driven by the improvement in operating income described above, an income tax benefit of $2 million in the current period versus income tax expense of $35 million in the prior year, and a loss on the extinguishment of debt of $38 million as a result of a refinancing activity that occurred during 2024 versus a loss on the extinguishment of debt of $109 million during 2023. These items were partially offset by a $62 million increase in interest expense, $21 million in debt modification costs associated with the refinancing activity that occurred in the fourth quarter of 2024, and a $16 million increase primarily due to other non-operating gains recognized in the prior year that did not repeat in 2024. Adjusted EBITDA was $517 million, an improvement versus Adjusted EBITDA of $337 million in 2023. The improvement in Adjusted EBITDA was driven by revenue growth due to favorable rate impacts from travel supplier mix and an increase in global air and hotel bookings, lower technology expenses due to cost savings related to our cloud migrations, and a decrease in labor and professional services expenses driven by our cost reduction plan. These impacts were partially offset by increased Travel Solutions incentive expenses. For the full year 2024, Sabre reported Adjusted EPS of ($0.19), versus ($0.52) per share in 2023. With regard to Sabre's full year 2024 cash flows (versus prior year): * Cash provided by operating activities totaled $71 million (vs. $56 million) * Cash used in investing activities totaled $30 million (vs. $110 million) * Cash provided by financing activities totaled $40 million (vs. used in $94 million) * Capitalized expenditures totaled $84 million (vs. $87 million) Free Cash Flow for the full year was negative $14 million, versus Free Cash Flow of negative $31 million in 2023. Free Cash Flow for the year includes $19 million paid for debt modification costs associated with the refinancing activity in the fourth quarter of 2024. Financial Results: See full release at:https://investors.sabre.com/static-files/57182a46-0283-43f2-aa60-1ee4f094bce0(C) 2025 Electronic News Publishing, source ENP Newswire» Mehr auf marketscreener.com

Sabre Corporation (NASDAQ:SABR ) Q4 2024 Results Conference Call February 20, 2025 9:00 AM ET Company Participants Brian Evans - SVP, IR and Treasurer Kurt Ekert - CEO and President Mike Randolfi - CFO and EVP Scott Wilson - EVP and President, Hospitality Solutions Conference Call Participants Josh Baer - Morgan Stanley Alex Irving - Bernstein Jed Kelly - Oppenheimer Victor Cheng - Bank of America Dan Wasiolek - Morningstar Wei Fang - Mizuho Operator Good morning, and welcome to the Sabre Fourth Quarter and Full Year 2024 Earnings Conference Call. My name is Didi, and I will be your operator.» Mehr auf seekingalpha.com