GBTG Q1 2024 Earnings Report
Key Takeaways
American Express Global Business Travel reported strong Q1 2024 financial results, with a 6% year-over-year revenue growth to $610 million and a 24% increase in Adjusted EBITDA to $123 million. The company also reached positive first-quarter Free Cash Flow of $24 million, representing a $133 million year-over-year increase, and reiterated its full-year 2024 revenue and Adjusted EBITDA guidance ranges.
TTV grew 9% year-over-year.
Revenue grew 6% year-over-year to $610 million.
Adjusted EBITDA increased by 24% year-over-year, reaching $123 million.
Free Cash Flow was $24 million, a $133 million improvement year-over-year.
GBTG
GBTG
GBTG Revenue by Segment
Forward Guidance
The company reiterated its full-year 2024 revenue and Adjusted EBITDA guidance ranges. Revenue is expected to be between $2.43 billion and $2.50 billion, with Adjusted EBITDA between $450 million and $500 million. Free cash flow is expected to be greater than $100 million.
Positive Outlook
- Revenue between $2.43B – $2.50B (+ 6% – 9%).
- Adjusted EBITDA between $450M – $500M (+ 18% – 32%).
- Adjusted EBITDA Margin 18% – 20% (+ ~150bps – 350bps).
- Free Cash Flow > $100M.
Revenue & Expenses
Visualization of income flow from segment revenue to net income