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Dec 31, 2021
Sabre Q4 2021 Earnings Report
Reported continued improvement in results and announced future margin growth expectations.
Key Takeaways
Sabre's Q4 2021 revenue totaled $501 million, a 60% improvement versus Q4 2020. Net loss attributable to common stockholders totaled $192 million, an improvement versus net loss of $325 million in the fourth quarter of 2020.
Welcomed dynamic travel leader, Kurt Ekert, as Sabre's President
Travel recovery trends continued to improve during the fourth quarter
Expanded partnership with American Express Global Business Travel
Exceeded 2021 technology transformation milestones including moving 18% of mid-range workloads to Google Cloud
Revenue by Segment
Forward Guidance
Sabre's full-year 2022 outlook is summarized as follows: Outlook at Possible Sabre Bookings Recovery Scenarios
Positive Outlook
- Revenue $2.2B to $2.5B if Sabre Bookings Recovery is 50% of 2019
- Adjusted EBITDA > Flat if Sabre Bookings Recovery is 50% of 2019
- Revenue $2.5B to $2.8B if Sabre Bookings Recovery is 60% of 2019
- Adjusted EBITDA > $100M if Sabre Bookings Recovery is 60% of 2019
- Revenue $2.8B to $3.1B if Sabre Bookings Recovery is 70% of 2019
Challenges Ahead
- Excludes AirCentre expected results after expected sale in Q1 2022.
- Technology Transformation (~$45M): ~$25M technology transformation spend
- Technology Transformation (~$45M): ~$20M hosting bubble costs due to temporary inefficiencies from running workloads across multiple environments
- SG&A (~$40M): ~$10M business systems
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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