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Mar 31, 2024
Sabre Q1 2024 Earnings Report
Reported strong first quarter results exceeding prior guidance and raised full-year 2024 financial outlook.
Key Takeaways
Sabre's Q1 2024 revenue totaled $783 million, a 5% increase year-over-year. The company reported an operating income of $98 million, a significant improvement from the previous year. Net loss attributable to common stockholders was $71 million, and adjusted EBITDA reached $142 million.
Strong financial performance exceeded prior Q1 guidance, leading to raised full-year 2024 revenue and Adjusted EBITDA outlook.
Operating income reached $98 million with a 13 percentage point operating margin improvement; Q1 revenue increased 5% year-over-year while operating costs declined 8% over the same period.
Hyatt implementation to the SynXis platform is on schedule, with first bookings expected in Q2.
Refinanced over $300 million of 2025 debt maturities and increased liquidity by approximately $70 million.
Revenue by Segment
Forward Guidance
Sabre's second quarter 2024 revenue is expected to be ~$750M and Adjusted EBITDA is expected to be ~$115M. The full year 2024 revenue is expected to be ~$3,040M and Adjusted EBITDA is expected to be ~$520M.
Positive Outlook
- Second quarter 2024 Adjusted EBITDA guidance consists of second quarter expected net loss attributable to common stockholders of approximately $68 million.
- Expected stock-based compensation expense of approximately $14 million.
- Expected depreciation and amortization of property and equipment and amortization of capitalized implementation costs of approximately $24 million.
- Expected net interest expense of approximately $131 million.
- Expected provision for income taxes of approximately $4 million.
Challenges Ahead
- Full-year Adjusted EBITDA guidance consists of full-year expected net loss attributable to common stockholders of approximately $256 million.
- Expected the impact of acquisition-related amortization of approximately $39 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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