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Mar 31, 2023
Sabre Q1 2023 Earnings Report
Announced first quarter 2023 results, exceeding prior guidance and highlighting a durable path to 2023 and 2025 financial targets.
Key Takeaways
Sabre's Q1 2023 revenue reached $743 million, a 27% increase year-over-year, driven by growth in global air, hotel, and travel bookings and favorable rate impacts. The company's net loss was $104 million, or $0.32 per share. Adjusted EBITDA was $58 million, up from $5 million in Q1 2022. The company focuses on driving growth, realigning resources, generating free cash flow and deleveraging the balance sheet. Resource realignment supports strategic initiatives and is expected to reduce costs by $200 million annually, including $100 million in 2H'23.
Kurt Ekert elected Chief Executive Officer and President.
Q1 revenue and adjusted EBITDA exceeded prior guidance.
Strategic priorities focused on driving growth, realigning resources, generating free cash flow and de-levering the balance sheet.
Resource realignment supports strategic initiatives and is expected to reduce costs by $200 million annually, including $100 million in 2H'23.
Revenue by Segment
Forward Guidance
Sabre's second quarter, second half, and full-year 2023 outlook are summarized as follows: Q2 2023 Revenue ~$700M, Adjusted EBITDA ~$45M, Free Cash Flow ($60M) to ($80M) incl. $20M-$30M restructuring. 2H 2023 Revenue ~$1.4B, Adjusted EBITDA ~$200M to $220M, Free Cash Flow Positive in both Q3 & Q4. FY 2023 Revenue $2.8B to $3.0B Adjusted EBITDA $300M to $320M Free Cash Flow excl. restructuring ($40M) - ($50M) excl. $20M-$30M restructuring.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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