- Sabre Corp SABR reported fourth-quarter FY21 revenue growth of 60% year-on-year to $501 million, beating the consensus of $497 million.
- Due to continued recovery from the pandemic, higher global air, hotel, and other travel bookings drove the increase.
- Travel Solutions revenue rose 63% Y/Y to $450.9 million. The operating loss improved 91% Y/Y to $(10.4) million.
- Distribution revenue grew 118% Y/Y to $286 million. IT Solutions revenue increased 14% Y/Y to $164.9 million.
- Hospitality Solutions' revenue increased 31% Y/Y to $54.5 million. The operating loss improved 43% Y/Y to $(8.8) million.
- Sabre decreased the adjusted EBITDA margin loss from (32)% to (5.3)%.
- Adjusted loss per share of $(0.47) missed the consensus loss of $(0.44).
- It used $6.5 million in operating cash flow and held $999.4 million in cash and equivalents.
- Outlook: Including AirCentre, Sabre sees FY22 revenue of $2.4 billion - $2.7 billion at 50% bookings recovery, revenue of $2.7 billion - $3 billion at 60% bookings recovery and revenue of $3 billion - $3.3 billion at 70% bookings recovery.
- Price action: SABR shares traded higher by 21% at $10.90 in the market on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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